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

To: B.REVERE who wrote (5127)	8/24/1998 11:16:00 AM
From: Anthony Wong	Respond to of 9523

08/24 10:57 Monsanto<MTC.N>, Pfizer <PFE.N> up on Celebra news CHICAGO, Aug 24 (Reuters) - Shares of Monsanto Co. and Pfizer Inc. rallied in early trading Monday on news that their new Celebra arthritis drug received priority review status from the Food and Drug Administration. "This is certainly a positive for Monsanto," said one analyst. "Clearly, it's an important revenue for their future growth." The new drug, which analysts said has multibillion dollar sales potential, will be developed and sold by both companies in all areas of the world except Japan. It is the first of a new class of so-called COX-2 inhibitors, which block an enzyme that causes pain and inflammation. Unlike other arthritis remedies, Celebra is touted to have fewer side effects, particularly stomach problems. The initial uses for which Celebra has been submitted to the FDA are for rheumatoid arthritis and osteoarthritis and for pain. However, clinical trials for Alzheimer's disease and colon cancer are also underway. Monsanto was up 2-1/2 to 60 and Pfizer was up 1-3/16 to 107-1/4.