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Biotech / Medical : Pharma News Only (pfe,mrk,wla, sgp, ahp, bmy, lly)

PFE 25.51

+4.6%

3:59 PM EST

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To: Anthony Wong who wrote (1518)	3/18/1999 4:02:00 PM
From: Anthony Wong	Read Replies (3) of 1722

RESEARCH ALERT-Lilly strong buy reiterated Thursday March 18, 2:18 pm Eastern Time CHICAGO, March 18 (Reuters) - Gruntal & Co. on Thursday reiterated its strong buy rating on Eli Lilly and Co. and called the decline in share price a ''stock on sale'' opportunity. -- In a written report received here, Gruntal analyst David Saks said his firm raised its 1999 sales estimates for schizophrenia drug Zyprexa to $1.95 billion from previous estimate of $1.75 billion. -- Gruntal also raised sales estimate for cancer drug Gemzar, to $425 million from $400 million. -- While reductions in 1999 sales estimates for antidepressant Prozac have driven the stock lower, the overall antidepressant market is still expanding. -- Gruntal left 1999 earnings per share estimate unchanged at $2.32 despite the company's confirmation of previous guidance of $2.25 to $2.30, and believes Lilly has the potential for an upside surprise. -- Gruntal's 12-month price target for Lilly is $113. -- Shares of Lilly traded off $1.125 at $87.625 after falling more than $5 a share on Wednesday.

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