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

To: BigKNY3 who wrote (5300)	8/29/1998 7:25:00 PM
From: Bradpalm1	Respond to of 9523

<<He really isn't worth the time or effort....unless you use him as a contrary indicator.>> So true, Big Kahuna (aka BigKNY3). Guess it's almost time to load up on some more PFE. My TA indicator is showing all green. Bradpalm1

To: BigKNY3 who wrote (5300)	8/29/1998 8:15:00 PM
From: BDR	Respond to of 9523

I second BigKNY3's recommendation to ignore the fish's postings. Trying to reason with the man/child will only provoke him and clutter your otherwise useful thread with his rantings. Remember, this is the poster who exhorted investors to go long VVUS 15 months ago because it was going to 400. To be fair, perhaps he meant cents not dollars. VVUS closed Friday at 387. Cents, that is.

To: BigKNY3 who wrote (5300)	8/30/1998 7:48:00 AM
From: BigKNY3	Respond to of 9523

Merck settles antitrust charges Medco unit accused of stifling competition Edward R. Silverman 08/28/98 The Star-Ledger Newark, NJ FINAL Page 053 Merck & Co. yesterday agreed to settle long-standing charges made by the Federal Trade Commission that its Medco unit, the nation's largest pharmacy-benefits manager, violates antitrust laws by giving unfair preference to Merck drugs. The settlement requires Medco, which Merck bought five years ago for $6.6 billion in the hopes of boosting drug sales, to take a variety of steps that would ensure drugs made by competitors are given equal treatment. Pharmacy-benefits managers offer their customers - health plans run by companies, governments and other organizations - methods aimed at getting doctors to choose less-expensive drugs, which prompt drug makers to offer large discounts. A key practice involves the use of formularies, which are lists of preferred drugs. In the event a health plan has a closed formulary and a doctor writes a prescription for a drug not on the list, Medco pharmacists call them and persuade them to switch to a preferred drug. But Medco and two other large pharmacy-benefits managers owned by drug makers, Eli Lilly & Co. and SmithKline Beecham Plc, have been accused by competitors, doctors and pharmacists of aggressively promoting drugs made by their parent companies. Earlier this year, Merck was sued by a New York woman who charged that Medco improperly forced her to switch to a costlier Merck drug from a competitive product, apparently the first time a consumer went to court to prevent drug switching. In announcing the settlement, which is similar to one struck with Lilly, the FTC found that "Merck's acquisition of Medco has reduced competition . . . and Medco has given favorable treatment to Merck drugs," said William Baer, director of the FTC's Bureau of Competition. The agency also found, in some cases, that consumers have been denied access to the drugs of competing manufacturers and that Medco is in a position to share with Merck sensitive pricing information it gets from Merck's competitors, which could foster collusion. To rectify the problem, Merck has agreed to maintain a so-called open formulary, and that all decisions regarding this list of drugs would be made by an independent committee of physicians and pharmacologists who have no financial interest in Merck. The agreement also calls for Medco to accept all discounts and rebates offered by any other drug maker seeking to have its products placed on the open formulary. And a firewall would prohibit Merck and Medco from sharing data about their competitors with each other. A Medco spokesman said these practices have been in place for nearly three years, following an agreement with 17 states that investigated Medco over similar concerns. At the time, Merck agreed to pay $2 million to reimburse the states for the cost of their inquiries. The Food and Drug Administration, however, is considering stricter oversight of pharmacy benefits managers owned by drug makers, especially marketing practices involving drug switching. So far, though, Medco appears to have given Merck a boost. Merck's share of the $12 billion in drug sales Medco managed last year grew to 15 percent, equal to $1.8 billion. That's up from 10 percent, or $300 million, five years ago. Medco covers about 51 million people.