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Biotech / Medical : PFE (Pfizer) How high will it go? -- Ignore unavailable to you. Want to Upgrade?

To: Stephen who wrote (7835)	6/9/1999 3:43:00 PM
From: Dan Spillane	Read Replies (1) \| Respond to of 9523

I guess this in part explains the precipitous drop from 150. It seems to me earnings estimates will come down, and that will be a time to pick up shares from those that have been the most clueless. Maybe some LEAPs...but no rush.

To: Stephen who wrote (7835)	6/9/1999 4:02:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 9523

Stephen, I haven't done a detailed analysis but PFE had 1Q total revenues of $3.93 B, so even taking a worse case scenario of zilch Trovan sales doesn't justify PFE's price drop to the low $100's from $150. I expect the impact on earnings would only be under ten cents/year. Analysts would be revising the sales from Trovan in the next few days and this would put further pressure on the stock price. Here is an excerpt from a May 26 Bloomberg article: In a report, Merrill Lynch analyst Steven Tighe wrote that there was underlying liver disease or use of other medications in most of these cases. Tighe said he is maintaining his accumulate rating on the stock. Tighe also said he is evaluating his Trovan sales estimates of $307 million for 1999 and $466 million for 2000 and may revise them. Trovan sales were $160 million in 1998, its first year on the market.