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

To: Paul Senior who wrote (17509)	8/5/2003 10:10:02 PM
From: Spekulatius	Read Replies (2) \| Respond to of 78476

Re MRK - I don't like MRK at current prices and the reason is Zocor. Zocor is MRK's largest cash cow but its patent will expire in 2006 and in some foreign countries earlier than that. I don't see with the pipeline currently visible and even with Zetia (which is shared with SGP) how they can grow out of this gapping hole once the patent is gone. MRK's recent quarter has a lagging topline growth (7% despite positive currency effects) and sharply increasing SG&A and R&D costs (17% and 25% respectively). I think this is a sign of more things to come. Message 18657211 Pharmaceutical sector, i like JNJ, NVS and to a lesser extend PFE.