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To: red_dog who wrote (58826)8/31/1999 4:46:00 PM
From: kendall harmon  Respond to of 120523
 
UTHR--news from today

BARCELONA, Spain, Aug. 31 /PRNewswire/ -- Dr. Stuart Rich, M.D. described the results of a 26-patient clinical study for a life-threatening heart-lung disorder at Europe's largest cardiology convention today. The heart-lung disorder is called primary pulmonary hypertension (PPH). The clinical study involved comparison of a new drug called ''UT-15'' to a placebo.

The new drug, ''UT-15'', is a modified version of a molecule called ''prostacyclin'' that is naturally produced within the body. A primary purpose of prostacyclin is to keep blood vessels healthy. However, the disorder called PPH is associated with low levels of natural prostacyclin. Consequently, researchers have tried providing PPH patients with additional prostacyclin to halt the progression of their illness.

Dr. Stuart Rich, M.D., is one of the world's leading experts on PPH. He recently chaired the World Health Organization's second symposium on PPH. He is the Director of the Center for Pulmonary Heart Disease at Rush Presbyterian St. Luke's Medical Center in Chicago, Illinois.

The abstract presentation at the European Society of Cardiology meeting concluded that ''UT-15 is a safe treatment of PPH and affects hemodynamics and exercise tolerance favorably.'' Dr. Rich also noted that UT-15 was well tolerated and worked similarly to ''Flolan,'' which is a 24-hour-a-day, 365 day- a-year continuous intravenous form of prostacyclin that patients must currently endure.

The co-authors of the paper, entitled ''Efficacy and Safety of UT-15, a Prostacyclin Analogue, for Primary Pulmonary Hypertension,'' were Dr. McLaughlin of Rush Medical College, Chicago, Illinois, Dr. Barst of Columbia Presbyterian Hospital, New York, New York, Dr. Rubin of the University of California, San Diego, Dr. Gaine of Johns Hopkins University, and Dr. Crow and Mr. Blackburn of United Therapeutics Corporation, Research Triangle Park, North Carolina.


biz.yahoo.com




To: red_dog who wrote (58826)8/31/1999 4:48:00 PM
From: red_dog  Read Replies (1) | Respond to of 120523
 
ANALYST(S): POWERS, JOHN

RATING: BUY
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Synopsis:

The following synopsis is qualified in its entirety by the more detailed information contained in the full research report, including the discussion of certain risks associated with an investment in this security contained in "Investment Risks."

Research dated prior to September 1, 1998 was prepared by an entity that was acquired by BancBoston Robertson Stephens Inc.

Key Points:

ISSX announced that it will acquire Netrex, a large managed security services company. ISS will buy Netrex in exchange for 2,450,000 shares of unregistered stock, valued at $56.7 million at today's market price. The acquisition will be accounted for as a pooling-of-interests. ISS plans to register up to 28% of this stock in a filing with the SEC. Netrex's revenues for 1998 were $21.8 million, and Netrex has more than 500 security-conscious customers. Netrex and its ePatrol services will be the basis for ISS's new eServices Organization.

This acquisition is very consistent with ISS's stated strategy. ISS has been interested in hosting intrusion detection capabilities for its customers that do not have sufficient IT staff to manage such a system internally. By acquiring Netrex, one of the largest managed security services providers, ISS gets the expertise it will need to build this new eServices business unit into a substantial part of its revenue.

Summary and valuation. At its current market cap of $946 million, the stock trades at 13.4x expected 1999 revenues and 9.2x expected 2000 revenues. We believe that this is a very attractive valuation for such a high quality company. Consequently, at the current valuation we rate the stock as a Buy.