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Biotech / Medical : Centocor ( CNTO ) -- Ignore unavailable to you. Want to Upgrade?

To: FNS who wrote (503)	1/9/1998 10:55:00 AM
From: LJM	Respond to of 965

I recently heard discussion on CNBC that IMNX weakness was due to their approval process not moving as anticipated as well as worries about potential competition from Avakine.

To: FNS who wrote (503)	1/9/1998 6:19:00 PM
From: Todd D. Wiener	Read Replies (1) \| Respond to of 965

Biotech 4Q: Centocor's ReoPro Gets Boost From Labeling Dow Jones Newswires Centocor Inc. (CNTO), of Malvern, Pa., is seeing continued success with its ReoPro antiplatelet agent. The drug got a boost in early November when the FDA approved additional uses for the blood thinner. The new labeling will allow physicians to use ReoPro as additional therapy to prevent cardiac complications in a broad range of patients undergoing percutaneous coronary intervention and should boost sales of the drug, analysts said. In December, Centocor said it would be unable to complete an international distribution agreement for its Avakine drug in 1997 and therefore unable to meet analysts' estimates for the year. Earnings estimates of about 50 cents a share assumed an up-front payment from the expected international distribution agreement for Avakine, a monoclonal antibody for the treatment of Crohn's disease and rheumatoid arthritis. Centocor said it likely would earn just 20 a share in 1997. For the fourth quarter, analysts expect Centocor to report earnings of 2 cents a share, down from 4 cents a share a year ago, according to First Call Inc.