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

To: zurdo who wrote (4952)	8/14/1998 5:52:00 PM
From: utee	Read Replies (1) \| Respond to of 9523

PFE did not get a good price for their premier orthopedic company. JNJ just bought Depuy for over 3 billion and Depuy sales are avbout the same as Howmedica, maybe less. I don't understand how Howmedica was sold at auction - but buying some Stryker (I did today) may be a good deal, as the combined companies are now #1 in the orthopedic device field, and Stryker is very well positioned in this field. UTEE

To: zurdo who wrote (4952)	8/14/1998 6:12:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 9523

zurdo, the Howmedica deal isn't unexpected, and the price isn't spectacular either. Don't expect PFE stock to do much until EU approval of Viagra, which SHOULD put some excitement back into the stock price. Anthony

To: zurdo who wrote (4952)	8/14/1998 6:24:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 9523

The sale of Howmedica puts Pfizer more in line with its strategy to increase its focus on pharmaceutical development, said Lehman Brothers analyst Anthony Butler. Howmedica has been slowing earnings at Pfizer and occupying management's time, said Hambrecht & Quist analyst Alex Zisson. A lingering question is how the company will use the proceeds from the sale. A spokesman said they will be used for general corporate purposes. He declined to elaborate. Analysts suggested that a stock buyback is a likely option. (Source: Dow Jones article Stryker Faces Challenge To Integrate Howmedica,Analysts Say) smartmoney.com For Pfizer, the sale marks the final divestiture of its Medical Technologies Group. Analysts expect the drugmaker will use the cash from the sale to expand its marketing efforts and bolster its $2.3 billion R&D budget for fiscal 1998. (Source: Motley Fool Evening News) fnews.yahoo.com The funds from these sales will probably be used to fund expanded R&D, the expansion of the field force, more licensing agreements, and any other product or company opportunities that may appear. (Source: BigKNY3's post# 4943) Message 5495458