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Biotech / Medical : NPSP NPS Pharmaceutical -- Ignore unavailable to you. Want to Upgrade?

To: mopgcw who wrote (177)	11/17/2003 8:16:33 PM
From: tom pope	Read Replies (1) \| Respond to of 363

Thanks, mopgcw, but that is really quite funny. Although I understand every word of the note (which is not always the case when I read biotech reports) I haven't the vaguest idea what the buy/sell conclusions might be in the analyst's mind. Tom

To: mopgcw who wrote (177)	11/17/2003 8:21:13 PM
From: tom pope	Respond to of 363

Here's what ML has to say Amgen (AMGN) - Raise 04 and 05 estimates by a penny. AMGN reported phase III data using Cinacalcet to treat secondary hyperparathyroidism. The data suggests strong efficacy with good tolerability. Approval should occur faster than expected, thus we adjusted our estimates accordingly. Based on priority review, we project US approval of Cinacalcet in late 1Q04 with launch in 2Q04, which is 6 months earlier than expected. EU launch should occur in late 2004. We estimate WW peak sales of more than $500 MM. Reiterate Buy and $81 target. Also, although good data for Roche's CERA was released, because the drug is merely a pegylated version of Neorecormon, it will likely eventually face a patent infringement challenge from Amgen.