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Biotech / Medical : Pharma News Only (pfe,mrk,wla, sgp, ahp, bmy, lly) -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Wong who wrote (284)	6/11/1998 1:43:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 1722

Retracements are Short Term Prognosis, Stellar Stock Report Suggests in June Issue June 11, 1998 12:41 PM ATLANTA--(BUSINESS WIRE)--June 11, 1998-- Pfizer is a lot more than Viagra Market corrections are a necessary reality, the June issue of the Stellar Stock Report published here states, underscoring that the very term "correction" should not be seen as an impending doom. "These 'retracements' create fear and doubt, because it is essentially impossible to tell the difference between the beginnings of one and the beginnings of a trend change in the other direction," explains Richard Schmidt, the Naples, Fla.-based editor and author of the monthly newsletter. "Retracements indicate a time of uncertainty in the markets, when they can. But they can sure get our emotions all in a knot." Mr. Schmidt had earlier forecast a retracement in the 10 to 18% range, based in part on an anticipated Fed (Federal Reserve Bank) move to raise interest rates, expected last month, but possibly delayed until July. The minutes of the May (Fed) meeting show a definite bias toward a tighter monetary policy, the Stellar Stock Report observed, questioning a imminent decision by Fed Chairman Alan Greenspan to assist the Pacific Rim nations, while, at the same time, balance a growing need for a presumptive move against the potential of inflation in the nation's economy. "In the short term, either a continued market consolidation or short-term correction is expected," Mr. Schmidt writes. "This is one of those market-watch periods we experience once or twice a year where it is exceedingly important to look before we leap and where no action is the best course to take." The Stellar Stock Report editor still foresees a 10,000 Dow by the end of 1998 and over 12,000 by the close of next year. One of the star performers he has been watching is Pfizer (NYSE-PFE), which, in spite of a momentary setback, is well-poised to become a $200 stock, according to Schmidt. "Pfizer is more than a fad, " he argues, pointing to the success of Viagra in spite of several unfortunate deaths by users, but a projected market of more than 30 million men. "It's important to understand that impotency is usually the result of old age or disease or both. And, it's from these groups of people that we see the highest death rates. So we would be deceived to think that there wouldn't be a few Viagra users (out of more than a million) who would pass away, but it doesn't mean the drug was responsible." "But Viagra is just the tip of the iceberg," he argues, admitting a retracement was going to happen because of the press and FDA reports. Still, Pfizer has over 55 blockbuster drugs in development, including a new delivery system to speed the absorption of its drugs. "It's not a fly-by-night company or a one-drug wonder." Founded in 1997, the Stellar Stock Report is a private monthly newsletter detailing facts and opinions on the investment markets. It is published by Soundview Publications in Atlanta, which also offers Dennis Wheeler's Gold Stock Report, Caribbean Travel Letter, Women's Health Letter, John Elvin's Political Dynamite and Dr. William Campbell Douglass' Second Opinion. Subscriptions to Stellar Stock Report are $250 annually. Information is available from Soundview at 800/728.2288. CONTACT: Andrew Edson & Associates, Inc. Andrew S. Edson, 212/213-7636 or Soundview Publications Garrett Wood, 770/668-0432 Richard Schmidt, 941/947-2010 12:26 EDT JUNE 11, 1998 BW1257 JUN 11,1998 9:26 PACIFIC 12:26 EASTERN