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

To: Perry who wrote (3590)	6/19/1998 4:40:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 9523

I don't think analysts would take into account Zeldox's future sales when the drug is not yet approved by the FDA. Usually they revise their earnings estimates when the scripts for the newly approved drug start coming in and they have a better grasp of potential sales. LLY's Zyprexa (approved in late 1996) had $730 million in 1997 sales, and JNJ's Risperdal's 1997 sales (approved 4 years ago) have estimated 1997 sales of more than $840 million, so I would expect Zeldox, with PFE's formidable sales force, to have similar sales figures. Don't know how much more time Pfizer need to do the extra studies: 6 months to one year? PFE's news release didn't provide much information.

To: Perry who wrote (3590)	6/19/1998 5:15:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 9523

Some analyst comments on the non-approval from a Bloomberg update: It's unclear what the FDA's concerns are, said Alex Zisson, an analyst with Hambrecht & Quist who has a ''buy'' rating on Pfizer. ''There's some thought that the FDA is really starting to walk on eggshells now,'' following very public problems with drugs such as Roche Holding AG's Posicor, pulled off the market earlier this month because of its potential to have dangerous interactions with other drugs, he said. ''The open question now is how much is Zeldox going to be delayed?'' or whether it will hit the market at all, Zisson said. Best case scenario would be that the FDA only wants further analyses or information from ongoing studies, he said. Still, because Pfizer has many profitable drugs, Zeldox becomes less important, he said. ''In the scheme of things, even if Zeldox completely goes away, it's not a tragedy,'' he said.