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

To: Anthony Wong who wrote (4132)	7/9/1998 7:45:00 PM
From: Mick Mørmøny	Read Replies (2) \| Respond to of 9523

Viagra Helps Pfizer Post Big Gain By EILEEN GLANTON AP Business Writer NEW YORK (AP) -- The spectacular debut of the impotence drug Viagra helped pharmaceutical giant Pfizer Inc. (NYSE:PFE - news) post a 38 percent increase in second-quarter profits, the company said Thursday. The quarter ended June 28 is the first to reflect sales of Viagra, which debuted April 10. Since then, 2.7 million prescriptions have been filled and $411 million in sales have been recorded, Pfizer said. Pfizer earned $628 million, or 47 cents per share on a diluted basis, up from $457, or 35 cents per share, in the same period last year. Revenue jumped 25 percent to $3.63 billion from $2.91 billion. The profit results, released just before the close of stock-market trading, beat analysts' expectations of 45 cents per share, according a survey by First Call Corp. Pfizer shares rose $2.50 to $116 on the New York Stock Exchange. Pfizer's drug division drove the profit gain, with a 37 percent increase in worldwide revenue. Within the United States, revenue increased 64 percent to $1.8 billion. While Viagra grabbed the headlines and accounted for more than 11 percent of the company's total revenue, it wasn't the only drug filling Pfizer's coffers. The company's top-selling drug, calcium channel blocker Norvasc, brought in $618 million in the quarter, an 18 percent increase. Worldwide sales of Zoloft, a drug to treat depression and panic disorder, rose 23 percent to $398 million. Sales of allergy drug Zyrtec increased by 51 percent to $105 million. Also, revenue from Pfizer's alliances with other pharmaceutical companies more than tripled. Pfizer had combined revenue of $198 million from Lipitor, a cholesterol drug developed with Parke-Davis, and Aricept, an Alzheimer's disease drug developed by Eisai Co. While Pfizer's drug division thrived, others faltered. Pfizer said worldwide sales by from its medical technology group fell 12 percent to $321 million. Pfizer has been selling off businesses in the division, and said Thursday it is continuing its review of the remaining businesses in the group, Howmedia and American Medical Systems. Sales in Pfizer's animal health group rose 2 percent to $320 million in the quarter. Sales from consumer health care products fell 11 percent to $120 million, due to competition in over-the-counter medicines and a negative impact from foreign exchange rates. For the first six months, Pfizer earned $1.32 billion, or $1 per share, up from $1.06 billion, or 81 cents per share. Revenue rose to $6.97 billion from $5.91 billion.

To: Anthony Wong who wrote (4132)	7/9/1998 9:16:00 PM
From: B.REVERE	Read Replies (2) \| Respond to of 9523

Anthony, Viagra added 411 mill in sales on 2.9 mill scripts. That averages out to around 14 pills per script, not the 8.5 that most analysts have been quoting. I think even the IMS agency got fooled on this one. If there's no third-party payor on the script, does IMS still know about it or is the info coming from the insurance companies? An average of 14 pills per script would put annual sales for 1998 at around 1.26 billion even if sales stayed flat for the rest of the year. With Europe approved this September, look for another 300-500 mill tacked on the last quarter. PFE went from 12 3/4 at 3:50 pm to 15 1/2 in the last ten minutes on 1.4 mill shares. I think a few people liked what they saw. Later,