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Biotech / Medical : Monsanto Co.

MTC 2.810

+1.1%

Jan 23 3:59 PM EST

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To: jopawa who wrote (953)	1/21/1999 2:58:00 PM
From: Anthony Wong	Read Replies (2) of 2539

Celebrex Introduction & earnings guidance, from a Bloomberg update: Monsanto has just begun shipping its new Celebrex arthritis drug, a potential blockbuster, and is moving six new drugs through advanced clinical trials. It is also working to integrate $6 billion in seed company acquisitions. The company had hoped these projects would be funded by merging with drug company American Home Products Corp. When the merger plans fell apart last year, Monsanto was forced to raise $5 billion in debt, equity and asset sales. Monsanto told analysts on a conference call that it is ''comfortable'' with a 75 cents to 85 cents a share earnings range for 1999. The company said it would not be comfortable with anything higher than 85 cents, analysts said. The estimates currently forecast by 15 analysts surveyed by First Call Corp. range from 70 cents to $1.00, with the average being 83 cents.

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