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

To: Mick Mørmøny who wrote (4134)	7/9/1998 8:13:00 PM
From: Anthony Wong	Read Replies (3) \| Respond to of 9523

Dow Jones - Pfizer's Results Likely To Prompt Upward Earnings Revisions July 09, 1998 7:50 PM By Christopher Bowe CHICAGO (Dow Jones)--Fueled by its pharmaceutical unit, including the success of Viagra, Pfizer Inc.'s (PFE) second quarter earnings not only beat estimates but could cause upward revisions for next quarter, analysts said. 'The drug of the year is Viagra, but Pfizer also has a hand in (what should be) next year's drug of the year,' said Leonard Yaffe M.D., pharmaceutical analyst at NationsBanc Montgomery Securities. Pfizer is working on Celebra, a still unapproved pain reliever for arthritis sufferers that does not irritate the stomach. The drug, which could have a U.S. market worth at least $3 billion, has also been mentioned as a potential prophylatic drug against colon cancer, Yaffe said. However, Viagra and three other drugs are Pfizer's stars of the second quarter. For the second quarter, Pfizer earned 47 cents a diluted share, 2 cents above consensus analysts' estimates, and up from 35 cents a share earned in the same period last year. Second quarter revenues increased to $3.63 billion from $2.91 billion in the same quarter of 1997. 'It was largely driven by Viagra, which beat our (sales) estimates by a couple of million dollars,' Yaffe said. Viagra accounted for $411 million in sales for the quarter, but it was not alone. Allergy drug Zyrtec's sales increased 50% world-wide, while sales of seratonin inhibitor Zoloft gained 23%. '(Pfizer's) a great long-term hold for all its other products,' said Marcel Brichon, analyst at Global Securities Corp. Brichon noted that there is still some hestitancy to try Viagra, and that reluctance could increase depending on the lawsuits concerning the drug. 'Once the hesitancy comes out of the marketplace, I expect strong growth,' he said. NationsBanc's sales projections for Viagra are $800 million this year and $1.9 billion in 1999. The NYSE-listed Pfizer gained 2 1/2 points Thursday, closing at 116, on volume of 4.4 million shares. Average daily volume is 5.2 million shares. -Christopher Bowe; 312-750-4141