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Biotech / Medical : Agouron Pharmaceuticals (AGPH) -- Ignore unavailable to you. Want to Upgrade?

To: Vector1 who wrote (4933)	7/21/1998 6:14:00 PM
From: Intel Trader	Read Replies (1) \| Respond to of 6136

Maybe I'm a bit naive, but I think that today's results year over year in product sales, and royalties are very very good. Operating income went from a rather large loss last year to a figure that, had it been much better would be just short of miraculous. Had sales gone through the roof, I'd question such a move as either being the single act of a one act pony show or potential accounting errors. OI seems to be on a sustainable track. Inventories appear to have increased and I'd like to know the specifics about that. I want to know as well about Mr. Johnson's soon to be announced strategy. Cheers to all, it

To: Vector1 who wrote (4933)	7/21/1998 6:23:00 PM
From: ALL	Read Replies (1) \| Respond to of 6136

Fiscal Q4 Financial Analysis 1) Quarter-over-quarter, R&D increased 93.2% from $31,859 to $61,544. In other words, R&D less contract income ate about $1.04 post tax EPS for the quarter. R&D builds the pipeline. 2) Quarter-over-quarter, Viracept US revenues increased from $92,806,000 to $105,633,000 , or 13%. Annualized for the quarter, sales increased 163%. 3) Quarter-over-quarter, European revenues increased from $19,144,00 to $20,413,000, or 7%. The relatively slower increase could be a result of inventory build-up in the prior quarter. 4) Inventories, which the bears have been following, increased about 12.5% basically in line with total Viracept sales of 12.6%. In the pharmaceutical industry, inventory levels may not be the best leading indicator of future sales (IMHO).