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Biotech / Medical : Monsanto Co.
MTC 2.185+7.9%3:56 PM EST
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To: twt who wrote (544)11/13/1998 6:24:00 PM
From: Anthony Wong  Read Replies (1) of 2539
 
twt, Enbrel is in a different class of drug, and is not a direct competitor of the COX-2 inhibitors. Enbrel was approved by the FDA last week, yet the stock (IMNX) only moved big time this week, and especially today when it is up more than $6 when the research study was presented at the ACR meeting. It takes time for the news to sink in and for investors to jump on board. You can invest in IMNX last week after the FDA approval was given and you can still make good money. With MTC, you can either take a more speculative approach and buy at the present price or take a more conservative approach and wait until the FDA advisory committee's recommendation (or even after final FDA approval) to average up.

There are many drug companies developing COX-2 inhibitors, but MTC and MRK are the frontrunners. We must expect competition in any drug, but first one out always has an advantage over the others, and Pfizer will be able to market the drug properly; there's no worry in that area. Sometimes it's not the best product that makes the most money, it's the best marketed product. Prozac is still a blockbuster drug for LLY though it has been out so many years already and its patent is near expiry (and there are lots of newer antidepressants around).

I don't think there'll be any leaking. Any speculation that the drug will be recommended by the Adv. Committee is based on the positive research data on the drug released so far.

Anthony
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