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

To: Ron Flanigan who wrote (5979)	10/13/1998 10:20:00 PM
From: jim shiau	Read Replies (1) \| Respond to of 9523

NEW YORK (October 13, 1998 8:44 p.m. EDT nandotimes.com) - Despite a sales increase of 64 percent and a doubling of its third-quarter income, Pfizer Inc., maker of the popular new impotence drug Viagra, saw its stock price hammered on Tuesday. Pfizer said it earned $1.4 billion, or $1.06 a diluted share, on sales of $3.1 billion. A year earlier, the company earned $596 million, or 46 cents a share, on sales of $2.7 billion. Excluding one-time items, Pfizer earned $667 million, or 51 cents a share, which was below the 57 cents a share expected by Wall Street analysts surveyed by First Call Corp. The results were released after stock trading ended on the New York Stock Exchange and in after-hours trading, Pfizer's stock fell $6.75 to $89 a share. Pfizer said non-recurring gains came from the sale of two medical device units last month for $2.2 billion and charges of $236 million, which included a payment for co-marketing rights to the pain and arthritis drug Celebra, which is awaiting approval from the Food and Drug Administration. Hambrecht & Quist drug analyst Alex Zisson said Pfizer failed to meet Wall Street's exuberant earnings expectations because of lower than expected drug sales, including those of Viagra, and higher-than-expected expenses. Zisson said year-over-year R&D costs jumped 23 percent to $550 million in the quarter, about 5 percentage points higher than his own forecast. Selling, general and administrative expenses rose 26 percent to $1.3 billion, Zisson said, about 6 percentage points higher than he expected. Much of the increase was due to Pfizer's hiring of 1,100 additional salespeople in the quarter -- in part to prepare for the expected launch next year of Celebra, he added. Sergio Traversa, an analyst for New York research firm Mehta Partners, said worldwide Viagra sales of $141 million were "a bit disappointing. "But I don't see any real problem in terms of Pfizer's performance. The numbers were really good, but expectations were just too high," he added.

To: Ron Flanigan who wrote (5979)	10/14/1998 9:23:00 AM
From: Tokyo VD	Read Replies (1) \| Respond to of 9523

Ron, If you actually read my posts rather than fabricate your conclusion based on no critical thinking, you would comprehend that I'm negative on Zonagen as well as any HYPED "cure" for ED. Thanks for being intellectually honest as well being $0.09 away from the number. Good luck investing. Tokyo

To: Ron Flanigan who wrote (5979)	10/14/1998 9:27:00 AM
From: Tokyo VD	Read Replies (1) \| Respond to of 9523

Ron, Here is a Street.com review of the negative impact of the failed AHP-Monsanto failed merger. Pfizer (PFE:NYSE), which has a co-marketing deal on Celebra and will get a share of sales that is estimated to escalate as the superaspirin's sales rise. The market interpreted the collapse of the deal as good for Pfizer and sent the stock up 2 3/4 during New York trading to 95 3/4, though Pfizer shares retreated sharply in after-hours trading after the company reported weak third-quarter earnings. Investors were apparently thinking that Monsanto and Pfizer would renegotiate and make the Celebra deal better for Pfizer. Unless that happens, however, the deal's collapse is a negative for Pfizer, said one hedge manager who is short Pfizer. The American Home-Monsanto deal was to expand the Celebra-sales pie, benefiting Pfizer as well. As sales growth from Viagra slows down, Pfizer's earnings take a hit and Celebra becomes that much more important. The company reported maimed third-quarter results of 51 cents a share, compared to First Call consensus of 56 cents a share.