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Biotech / Medical : PFE (Pfizer) How high will it go? -- Ignore unavailable to you. Want to Upgrade?

To: zx who wrote (2000)	5/4/1998 2:16:00 PM
From: Anthony Wong	Respond to of 9523

NEW YORK (Dow Jones)--Investor confusion over a name and a stock symbol seemed to have propelled Scherer Healthcare Inc.'s (SCHR) shares to a 52-week high Monday morning. Scherer Healthcare, an Atlanta medical products holding company, received an unexpected boost after The Wall Street Journal reported that Pfizer Inc. (PFE) signed a deal with R.P. Scherer Corp. (SHR), a drug delivery system maker based in Troy, Mich. Under the agreement, R.P. Scherer will develop a dissoluble wafer delivery system for Pfizer's popular Viagra impotence treatment. R.P. Scherer stock also reached a 52-week high on the news. "We are attributing the spike to possibly a misinterpretation of who issued the announcement," Scherer Healthcare Chief Financial Officer Gary Ruffcorn said after confirming that his company was not the Scherer involved in the Pfizer deal. He added that Scherer Healthcare had not released any news that would have affected its stock activity. Ruffcorn said Scherer Healthcare has had name recognition problems in the past, not only with R.P. Scherer, but with privately held Scherer Laboratories as well. The two companies both saw their shares jump in early trading, but Scherer Healthcare's shares recently settled, up a mere 1/32, or 0.8%, to 4 on Nasdaq volume of 131,200, more than 79 times the average daily volume of 1,650. Earlier, the shares climbed 26% to a 52-week high of 5. R.P. Scherer's NYSE-listed shares were recently at 79, up 5 7/16, or 7.4% on volume of 304,800, compared with daily average volume of 115,0oo. -Nicole Ridgway; 201-938-5174 (END) DOW JONES NEWS 05-04-98 12:47 PM