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

To: BigKNY3 who wrote (6219)	11/6/1998 11:12:00 AM
From: BigKNY3	Read Replies (3) \| Respond to of 9523

Merck hits new high on anticipation of Vioxx data NEW YORK, Nov 5 (Reuters) - Shares of Merck & Co <MRK.N> jumped Thursday to a lifetime high on anticipation of data to be presented next week on its candidate anti-inflammatory drug, Vioxx, analysts said. Data from late-stage clinical trials of Vioxx in treatment of rheumatoid arthritis are expected to be unveiled at the American College of Rheumatology annual meeting being held next week in San Diego. Merck has said it will seek marketing approval later this year from the U.S. Food and Drug Administration for Vioxx, a member of a new class of drugs that fight pain and inflammation by blocking the so-called Cox-2 enzyme. Monsanto Co's <MTC.N> G.D. Searle drug unit earlier this year submitted a new drug application for its own Cox-2 inhibitor, Celebra, which analysts have also described as a potential blockbuster. Data on that drug is also expected to be presented in San Diego. Merck was up 3-3/8 to 141-11/16 in late afternoon trade. Earlier Thursday, shares hit a lifetime intraday high of 142-5/16. Monsanto was up 1-5/16 to 39-5/16. Current pain and arthritis therapies such as aspirin also work by inhibiting the Cox-2 enzyme, but often cause ulcers and other gastrointestinal side effects by also blocking the Cox-1 enzyme which protects the stomach lining. Wall Street is hoping Vioxx and Celebra prove to be equally effective as current treatments while having little if any adverse effect on the protective Cox-1 enzyme. "Merck is showing some strength today on anticipation of the American College of Rheumatology meeting," said David Buck, a pharmaceuticals analyst for Sands Bros. & Co. Buck said Merck was also being helped to a lesser extent by a new marketing campaign it announced Thursday for its cholesterol-lowering drug Zocor (simvastatin). Merck announced a new refund policy for patients who fail to benefit from Zocor while simultaneously undergoing a diet to lower their level of "bad" LDL cholesterol. The Whitehouse Station, N.J., drug giant said patients and insurers would be eligible for a refund for the cost of up to six months of their Zocor prescriptions in the event patients failed to meet LDL-lowering targets while taking the drug. Mike Krensavage, a Brown Brothers Harriman drug analyst, said Merck's "Get-to-Goal Guarantee" was a clever sales hook designed to help prevent Zocor from losing more market share to Warner-Lambert's blockbuster drug Lipitor (atorvastatin). Zocor and Lipitor are members of the statin class of cholesterol-lowering drugs