Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Anthony Wong who wrote (494)	7/9/1998 12:32:00 PM
From: Anthony Wong	Respond to of 1722

Pfizer Inc. Maintained 'Buy' at Warburg Dillon Read Bloomberg News July 9, 1998, 10:23 a.m. ET Princeton, New Jersey, July 9 (Bloomberg Data) -- Pfizer Inc. (PFE US) was maintained ''buy'' by analyst Jerome R. Brimeyer at Warburg Dillon Read Inc.. The 12-month target price is $135.00 per share. -- Andrew Bekoff in Princeton, New Jersey, (609)279-3652

To: Anthony Wong who wrote (494)	7/9/1998 12:34:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 1722

Abbott 2nd-Qtr Profit Rises 12% as Competition Hits Antibiotic Bloomberg News July 9, 1998, 6:22 a.m. PT Abbott 2nd-Qtr Profit Rises 12% as Competition Hits Antibiotic Abbott Park, Illinois, July 9 (Bloomberg) -- Abbott Laboratories, one of the world's biggest makers of medical tests and drugs, said second-quarter profit rose 12 percent amid more competition for its biggest medicine, the antibiotic Biaxin. Abbott said second-quarter net income rose to $585.6 million, or 38 cents a diluted share, from $521.5 million, or 33 cents a year earlier. Sales rose 5.7 percent to $3.07 billion from $2.90 billion. Abbott intends to expand its blood-screening and other medical tests. In April, it gained control of International Murex Technologies Corp. Abbott also is selling Biaxin, the world's third-biggest antibiotic with $1.3 billion in 1997 sales, in a package with an ulcer drug. The combination could keep Abbott from losing more market share to Pfizer Inc. antibiotics. ''It's going to help stabilize growth a little bit as they face more competition,'' said Sarah Ross, an analyst with Edward Jones, which has a ''buy'' rating on Abbott. Abbott rose 5/16 yesterday to 42 13/16. In February, Abbott started sales of a package that contains its ulcer drug Prevacid and two antibiotics. Abbott won FDA approval last year for Prevacid in combination with antibiotics to treat helicobacter pylori infections. This bacteria has been linked to ulcers. Abbott's sales of drugs and nutritional products, such as the drink Ensure, rose 3.5 percent to $1.73 billion from $1.68 billion. Biaxin faces competition from Pfizer's Zithromax and Trovan antibiotics. Trovan sales started earlier this year. Abbott sales of medical diagnostics rose 8.8 percent to $1.33 billion. Abbott was expected to earn 37 cents a diluted share, the average estimate of analysts polled by IBES International Inc. --Kerry Dooley in the Princeton newsroom (609) 279-4016/dd