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Biotech / Medical : Monsanto Co.

MTC 2.745

-5.3%

12:49 PM EST

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To: jopawa who wrote (935)	1/20/1999 8:38:00 AM
From: Anthony Wong	Read Replies (2) of 2539

Comments on MTC from labpuppy.com: labpuppy.com Most Wall Street analysts did not cut their earnings estimates on Monsanto (MTC) despite the failure of their anti-platelet drugs, Orbofiban and Xemilofiban. However, many reduced their price targets on MTC into the high 40s from the mid-50s on this news. These drugs were not expected to add to earnings until around 2002. Moreover, most analysts had eliminated any future earnings from Orbofiban back in November when safety problems were announced. However, this news is strategically significant as it makes Searle into a one product company (Celebrex). Because Searle's pipeline has been dramatically reduced, it could force MTC to look for a merger partner (perhaps someone like Dupont) or to spin off/sell Searle.

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