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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Bill Cotter who wrote (16531)	3/4/2003 5:51:18 AM
From: Demetre Deliyanakis	Read Replies (1) \| Respond to of 78481

MRK is the better value play, but you have to separate Medco from Merk, to do a more balanced analysis.I think once Merck does the Medco spinoff, its shares will go up. Medco provides good sales growth, but low margins. Pipeline is very important. A big pharma, will have a lower P/E if most of its patents are near expiration. PFE has an excellent pipeline. I like to own at least 2 or 3 big pharma stocks for diversification purposes. There is some bad news on the wires about GSK today. Potential Patent problems with Paxil. I don't think you can go wrong owning a few big pharma stocks over the next few years. The demographics are favourable ( i.e. aging population, more emphasis on drugs vs hospitals etc...) Off Topic: I think WEN looks appealing at these levels. Especially, once they expand Tim Hortons into different regions of the USA. Demetre