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Biotech / Medical : Agouron Pharmaceuticals (AGPH)
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To: Henry Niman who wrote (5669)11/13/1998 12:36:00 PM
From: Zirdu   of 6136
 
Here's a snippet from a news release on Japan Tobacco earning report:

''Drugs and food sales were much higher than expected,'' said Yuji Fujimori, an analyst at Goldman Sachs. ''And Japan Tobacco takes almost all of the increase in drugs sales as profit.'' Margins are especially high in drugs, because JT collects fees from licensing pharmaceuticals it develops.

Sales of drugs more than doubled to 11.7 billion yen, while food sales rose more than 250 percent to 25.9 billion yen. JT's anti-AIDS drug Viracept sold more because studies showed it was effective for patients who have developed resistance to other similar anti-AIDS drugs. The company developed Viracept jointly with U.S. drug maker Agouron Pharmaceuticals. The drug delays the onset of AIDS in patients infected with the HIV virus.

''Viracept is selling like hot cakes in the U.S.,'' said William Gallacher, an analyst at Schroders Securities. ''And it's all royalties.''
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