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Biotech / Medical : wla(warner lambert)
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To: Captain Jack who wrote (403)1/16/1999 3:06:00 PM
From: Mark Peterson CPA  Read Replies (2) of 942
 
However you trade or analyze WLA, you have to pay attention to their Lipitor production. They currently have two plants operating three shifts seven days a week and can't meet the demand for Lipitor. They are building a third plant for $500M in Ireland that may take a year or more to complete. Irrespective of any adverse news about Resulin, WLA is going to make its numbers on January 27, 1999. They are very good about "managing" reported earnings, so I expect them to exceed expected earnings by 3 - 5 %, which is still a positive earnings surprise. Don't overreact to this Resulin issue. I see the stock at 85 by April and another 2 for 1 split this year if the earnings continue as I expect them to. At today's price, you may be paying a high P/E this year (50+), but for next year, you have to figure they're also going to make earings, so you're really buying the stock today at a price that is effectively a P/E of 33-35 based on 1999 projected earnings.
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