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

To: Rob L. who wrote (698)	4/15/1998 4:19:00 PM
From: Jacques Tootight	Respond to of 1580

I'm guessing its just sector rotation. Techs are up, drugs are down; Drugs are up, techs are down.

To: Rob L. who wrote (698)	4/15/1998 4:21:00 PM
From: Brian Malloy	Read Replies (1) \| Respond to of 1580

I'd say that weakness in the drugs this weak is in part due to some rotation into tech, internet, and telecom related issues. The drugs have had a great run, and are taking a well deserved rest while people wait to see what the scripts are looking like. This quarters earnings are almost a non event, MRK will be in line with consenses estimates. IMHO

To: Rob L. who wrote (698)	4/15/1998 7:48:00 PM
From: one putt	Read Replies (2) \| Respond to of 1580

<<The stock had no reaction to FDA approval of its new drug.>> Perhaps this is because they did not receive approval from the FDA. Of course it is very likely that it will happen, I have seen it take up to six months to receive an approval following an approvable letter from the FDA. One particular stock I have been following for quite some time (Pharmos, PARS - NASDAQ) received FDA approval for two new opthalmological drugs at the same time, with huge potential, but had very little impact on the current trading price. Perhaps this is because the intial anticipation was already accounted for in the price. Until Merck begins generating revenues from this new product, the stock price will likely not reflect even FDA approval. Craig~