Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Pharma News Only (pfe,mrk,wla, sgp, ahp, bmy, lly) -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Wong who wrote (814)	9/16/1998 9:15:00 AM
From: Anthony Wong	Respond to of 1722

Pfizer Inc. Maintained 'Buy' at Warburg Dillon Read Bloomberg News September 16, 1998, 8:32 a.m. ET Princeton, New Jersey, Sept. 16 (Bloomberg Data) -- Pfizer Inc. (PFE US) was maintained ''buy'' by analyst Jerome R. Brimeyer at Warburg Dillon Read Inc.. The 12-month target price is $135.00 per share. -- Andrew Bekoff in Princeton, New Jersey, (609)279-3652

To: Anthony Wong who wrote (814)	9/16/1998 9:17:00 AM
From: Anthony Wong	Read Replies (1) \| Respond to of 1722

[LLY] Novo Nordisk Seeks FDA Approval for Fast-Acting Diabetes Drug Bloomberg News September 16, 1998, 5:17 a.m. ET Novo Nordisk Seeks FDA Approval for Fast-Acting Diabetes Drug Copenhagen, Sept. 16 (Bloomberg) -- Novo Nordisk A/S, the world's largest maker of diabetes treatments, said it applied to the U.S. Food and Drug Administration for approval to sell a new, fast-acting insulin drug for treatment of diabetes. The new drug, NovoRapid, will compete with a similar product, Humalog, made by Eli Lilly & Co. of the U.S. In August, Novo applied to the European Medicines Evaluation Agency for European marketing approval for the drug. NovoRapid will mark the company's entry into the market for a newer, quicker-acting kind of analog insulin drugs, of which Humalog was the first example. It is intended for use immediately after meals, and is better at controlling patients' blood-sugar levels, Novo said. ''We believe Humalog is priced at a 30 percent premium to traditional insulin types,'' Palle Holm Olesen, an analyst at Nykredit Bank A/S, said when Novo applied for European marketing approval. Olesen has a ''buy'' recommendation on Novo shares. Novo products account for just over 50 percent of the world's $2.2 billion insulin market, ahead of Lilly with roughly 45 percent. The U.S. drugmaker introduced Humalog in 1996. It generated sales of $65 million in 1997 and had a market share of 7 percent by volume, according to Olesen. ''We believe this can help us win market share from Eli Lilly, and although it'll partly cannibalize sales of our current line of insulins, it's a more advanced product with a higher profit margin,'' Lars Rebien Soerensen, head of Novo's healthcare division, said in an interview in August. Novo plans to market NovoRapid throughout Europe and in the U.S. in mid-1999. Diabetes products accounted for 71 percent of Novo's total heath-care sales of 12.528 billion kroner in 1997. In addition to insulins, the company sells other products for diabetes patients, such as the NovoPen reusable injection system and LifeScan blood-sugar measurement equipment. Novo shares where unchanged at 950 kroner. --David Bentow in the Copenhagen bureau (45) 33 32 21 21/ab