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Biotech / Medical : PFE (Pfizer) How high will it go?
PFE 25.04+2.6%Nov 21 9:30 AM EST
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To: Anthony Wong who wrote (6905)2/3/1999 9:54:00 AM
From: Anthony Wong  Read Replies (2) of 9523
 
From a Merrill Lynch Report "Celebrex - Strong out of the Box":

Merrill Lynch issued the above report on Pfizer on 2/1, and reiterated Pfizer's rating as A1-1-7, Buy and Long term buy. The bolds in the report are mine.

Investment highlights:

Initial prescription trends for Celebrex (Pfizer/Monsanto) are very encouraging. For the week ended January 22, new prescriptions for Celebrex totaled 9,940. It is important to note that the product was not yet been "officially launched". The official launch meeting for the sales force is slated for late February. Shortly after approval on December 31, Pfizer and Monsanto rolled out a massive sampling program. We therefore expect script trends to pick up dramatically in early March (IMS data captures prescriptions written 2 weeks prior to the data release).

Our revenue estimates for the product are $650 million in 1999 and $900 million in 2000. Pfizer will book its share of profits in its Alliance Revenue line as it does for Lipitor and Aricept currently. We are assuming alliance revenue from Celebrex of $77 million and $113 million for 1999 and 2000, respectively.

Merck's Vioxx, which is currently under priority review with the FDA, could be approved by May 23 rd. Celebrex is indicated for osteo- and rheumatoid arthritis, while Merck is seeking indication for osteoarthritis and pain for Vioxx.

For the full report, go to Merrill Lynch's web site (registration free until end of Feb.):
askmerrill.com
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