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Biotech / Medical : Biogen -- Ignore unavailable to you. Want to Upgrade?

To: aknahow who wrote (1192)	1/4/2000 12:32:00 PM
From: William Partmann	Read Replies (2) \| Respond to of 1686

RESEARCH ALERT - Biogen downgraded NEW YORK, Jan 4 (Reuters) - Salomon Smith Barney said Tuesday that analyst Meirav Chovav downgraded Biogen Inc. to neutral from outperform. --said Biogen has exceeded stock price target of $77. --Biogen common traded down 9-7/8mid-day to 78-1/8. --said concerned about Biogen's liability if it loses litigation over Chiron's patent for Beta-interferon production. --said expects Chiron and Schering AG to demand a high royalty rate on beta-interferon sales (about 15 percent) if they prevail. --expects robust Avonex sales in 2000 and 2001, but sees relative sales growth slowing, which should lead to significantly lower EPS growth. --expects EPS growth to slow to an estimated 25 percent in 2000 and 22 percent in 2001 from growth rates of 54 percent in 1998 and 61 percent in 1999. --------------------------------------------------------------------------------