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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 (4926)	8/14/1998 3:32:00 AM
From: zurdo	Read Replies (2) \| Respond to of 9523

Thank you, Anthony my friend, an excellent post from VikingRapier!!! You are correct...It is well-written and unbiased, which makes it a very useful perspective...It rivals the Peabody reports in its detached and accurate point of view...Both appear to point to the same probable course PFE will be taking over the next several weeks (or months, for that matter)....No dramatic upsurges...Just a series of narrow moves...perhaps 1 to 1 1/2 points spread...mostly sideways yo-yo action...Most likely will not penetrate the 105 resistance barrier for weeks, due to tremendous selling pressure by the options sellers to keep the price below 105...Hopefully the market will not deteriorate any further, which could carry PFE into the 90 price level...Opening of the European market may have little or no effect on the price...Just my interpretations....I'm sure others may disagree...That's what makes this thread interesting and lively...

To: Anthony Wong who wrote (4926)	8/14/1998 7:13:00 AM
From: Anthony Wong	Respond to of 9523

U.K. Pfizer Official Says Howmedica Sale to Stryker is 'Plausible' Bloomberg News August 14, 1998, 6:06 a.m. ET U.K. Pfizer Official Says Howmedica Sale Report Is 'Plausible' London, Aug. 14 (Bloomberg) -- A Pfizer Inc. official said it's ''plausible'' that the New York-based drug company has agreed to sell its Howmedica medical products unit to Stryker Corp., though she said she'd not been advised by Pfizer's main office that an announcement was imminent. The Wall Street Journal on-line edition reported today that Pfizer agreed to sell the Howmedica unit to Stryker for $1.9 billion, citing ''people familiar with the matter.'' Paula Wittles, European marketing director for the Pfizer unit, said in an interview that Pfizer put Howmedica up for sale in February and that bids were due by the end of July. She said both Kalamazoo, Michigan-based Stryker and Sulzer AG, of Winterthur, Switzerland, were viewed as contenders. ''We have all been expecting an announcement sometime soon,'' said Wittles. ''There has been no announcement of any bids received.'' She said she is typically notified when a company announcement is imminent. Bob Fauteux, a spokesman for Pfizer in the U.S., declined to comment. Industry Consolidation The Howmedica unit would be the third medical products unit that Pfizer agreed to sell this year. Pfizer, the maker of Zoloft for depression and Procardia XL for hypertension, said it wanted to sell the units to focus on its core business of drugmaking. On July 22, Pfizer said it agreed to sell its American Medical Systems unit for $130 million to E.M. Warburg, Pincus & Co. On June 16, it said it would sell its Schneider Worldwide unit to Boston Scientific Corp. for $2.1 billion in cash. Howmedica makes orthopedic devices to replace damaged joints and other products. Speculation over imminent consolidation in the medical products industry was heightened July 21 when Johnson & Johnson said it agreed to buy DePuy Inc., another medical products maker, for $3.5 billion. The unit was 84 percent held by Swiss drugmaker Roche Holding AG, which will receive $2.9 billion for its shares. Johnson & Johnson offered $35 a share for the rest. --Dane Hamilton in the London newsroom (44-171) 330-7727/ph