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

To: Ron Flanigan who wrote (6061)	10/14/1998 9:28:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 9523

<OT>Ron, the transcript for the NBR segment with the lady's name & all: What's Next For Stocks? SUSIE GHARIB: So, what do the technicians say about what's next for stocks? Let's check in with Kara Kavanagh of Bridge Trading. Her charts point to lower levels. So, Kara, it looks like you're bearish. What are the patterns that you're seeing? KARA KAVANAGH, TECHNICAL ANALYST, BRIDGE TRADING COMPANY: Basically what I'm seeing right now is bumping up to resistance levels in the major indexes, the Dow and the S&P for example. Bumping up to these upper trading ranges on lackluster volume. And you really would need the volume to break through to the upside. GHARIB: Actually, let's go to what your charts are saying, and first take a look at the Dow. Right now we're around the 8000 level? You're saying year end 6800. So that stock's going down another 15 percent. Walk us through this. KAVANAGH: Sure. It certainly is a possibility. Again, we don't have good volume on rally days. Also we probably have seen a test of the 74, 7500 level four or five times in the recent past. I think we're going to have to retest that level again. And I do believe if we break down through that 7400, 68 is probably the next stopping point on the Dow. GHARIB: Let's turn and see, we're on the S&P. Your forecast pretty much the same story where 8875 on the S&P by year end. GHARIB: That's another 15 percent drop from where we are now. Is this your worst case scenario? KAVANAGH: That's my worst case scenario. We did test 923 the other day so there is some support in the 900 to 923 area. But again, you know, 875, if we do break that 920 area is a possibility. GHARIB: You know, one of the things that I hear from a lot of the market strategists who are bearish and see stocks going lower, like yourself, is that there is not enough capitulation, not fear in the marketplace. KAVANAGH: Right. I think we're at the ... GHARIB: It's kind of scary, yes. KAVANAGH: ... to sum it all up. GHARIB: But is that your view, as well? KAVANAGH: I would pretty much have to agree. Again, the volume on the up- days is a problem. We haven't seen a clean out. We haven't seen a huge number of stocks on the NYSE making 52-week lows. Not beyond that 1000 level we saw recently. So there are still some factors, clean out factors let's say, that have not happened yet. GHARIB: We just have a few seconds left. Real quickly. When stocks do turn, which stock group will be the leaders this time, do you think? KAVANAGH: I think we need to focus on the financial stocks. They have led the market down. Hopefully, they will lead the market back up if we have a rosy scenario. But definitely take a look at the financial stocks. GHARIB: The banks and the brokers. KAVANAGH: Banks and brokers. GHARIB: Thanks, Kara. KAVANAGH: Thank you. GHARIB: And we've been speaking with Kara Kavanagh, technical analyst with Bridge Trading. quote.com

To: Ron Flanigan who wrote (6061)	10/14/1998 9:35:00 PM
From: Anthony Wong	Read Replies (3) \| Respond to of 9523

Pfizer Sued By Wife of Man Who Died After Using Viagra Bloomberg News October 14, 1998, 8:57 p.m. ET Pfizer Sued By Wife of Man Who Died After Using Viagra Washington, Oct. 14 (Bloomberg) -- Pfizer Inc., the second- largest U.S. drugmaker, was sued by the wife of a man who died of a heart attack after taking the company's Viagra impotence drug. In the suit filed October 9th in New York State Supreme Court, Eileen Mastroianni claims the drug is ''unreasonably dangerous and defective'' and that in offering Viagra for sale Pfizer is acting with ''reckless disregard for the public safety.'' Mastroianni's husband, 57-year-old Charles Mastroianni died June 10 after taking the drug. The lawsuit claims that Pfizer should have known that a significant portion of the drug's users were older men, who like Mr. Mastroianni, ''were at greater risk of angina.'' The lawsuit -- which asks for $10 million for each of several separate claims as well as additional damages and compensations -- was filed on behalf of Ms. Mastroianni by the law offices of attorney Ronald E. Benjamin, who has previously filed lawsuits for at least four other men who claim to have suffered heart attacks after taking the drug. Pfizer disputed Mastroianni's claims. ''We will first of all contest the lawsuit,'' said Andy McCormick, a spokesman for Pfizer. ''Secondly, we believe we have marketed the product responsibly.'' More than 4 million prescriptions have been written for the Viagra since its launch earlier this year, McCormick said. Introduced in April, the drug had the most successful launch ever in the U.S., and recorded sales of $411 million in the second- quarter. ''Lots of information about the use of the drug has been collected ... the safety and efficacy profile that we established in the clinical trials has been affirmed by the massive present experience,'' he said. The Food and Drug Administration had received reports of 69 men who died who had also used Viagra when it last updated its report Aug. 24. Agency officials said the reports haven't changed the FDA's posture as to the drug's safety. In no case has there been a direct cause and effect established between taking the drug and heart problems or death, the FDA and Pfizer said. Pfizer believes the incidents are more closely linked to ''the physical exertion related to the activity,'' McCormick said. ''We will prevail in litigation on this.'' --Kristin Reed in Washington (202) 624-1858 /ba quote.bloomberg.com