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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 (563)	7/21/1998 9:21:00 AM
From: Sonki	Read Replies (1) \| Respond to of 1722

FIVE DRUG COMPANIES REPORT EARNINGS (BMY, MRK, SGP, AHP, SBH): A collection of 5 drug companies report second quarter earnings that collectively come in on-target in terms of earnings. Drug companies are typically very predictable in their earnings and can often, if necessary, juggle a few numbers to make sure they come in as expected. Before the open Tuesday, Schering-Plough (SGP) reported second quarter earnings of $0.52, a penny ahead of expectations. Bristol-Myers (BMY) and American Home Products (AHP) came in right in-line at $0.82 per share and $0.39 respectively. Merck (MRK) at $1.07 per share and SmithKline Beecham (SBH) at $0.36 both surprisingly came in a penny below expectations. Given the current market tone these numbers shouldn't cause much problem for either the stocks, the sector or the market. Drugs make up a big part of the S&P 500 and many fund managers' portfolios because they have such predictable earnings. We are a little surprised that MRK and SBH missed, but MRK did have 15% year-over-year per share profit growth on a revenue gain of 9.3% while SBH's numbers were less impressive as year-over-year per share earnings rose only 6%. Meanwhile, SGP had 23% revenue growth over the year, and BMY 9%. Warner-Lambert (WLA) and Pfizer (PFE) remain favorites in the drug sector for many analysts, but this collection of reports this morning is good enough to provide continued support to the drug sector.

To: Anthony Wong who wrote (563)	7/21/1998 1:47:00 PM
From: Anthony Wong	Respond to of 1722

Epilepsy Drugs Show Benefit in Alzheimer's Disease Patients Bloomberg News July 21, 1998, 7:00 a.m. ET Epilepsy Drugs Show Benefit in Alzheimer's Disease Patients Amsterdam, July 21 (Bloomberg) -- Drugs designed to counteract epileptic seizures, sold by Novartis AG, Abbott Laboratories and others, can benefit Alzheimer's patients, a new set of studies found. In many cases, doctors are already using the medications to calm the agitation suffered by patients with Alzheimer's, according to researchers at New York's University of Rochester. Still, these are the first prospective, controlled clinical studies to prove the benefits of the drugs in patients with the degenerative disease, they said. In two studies of the drug carbamazepine, sold by Switzerland's Novartis and a number of generic drug manufacturers, the researchers found that three out of four patients improved while on the drug. Promising results have also appeared in a preliminary study of divalproex, sold by Abbott Park, Illinois-based Abbott as Depakote, the researchers said. Behavior problems, such as aggression, ''wear care givers down and are one of the main reasons that patients are admitted to acute and long-term care institutions,'' said Anton Porsteinsson, a psychiatry professor at Rochester. ''This type of medicine alleviates those symptoms for many patients in a population that is a bear to treat.'' The National Institutes of Health funded the two studies of carbamazepine, while the Alzheimer's Association funded the preliminary study of divalproex. Researchers presented the studies at the 6th International Conference on Alzheimer's Disease and Related Disorders in Amsterdam. Cognex, a drug sold by Morris Plains, New Jersey-based Warner-Lambert Co., and Aricept, sold by Japan's Eisai Co. and New York-based Pfizer Inc., are currently approved in the U.S. for treating Alzheimer's. The Food and Drug Administration recently asked for more information from Novartis before granting U.S. approval to the company's Exelon drug for the condition. --Kristin Jensen in the Washington newsroom (202) 624-1843 /ba