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Biotech / Medical : Sepracor-Looks very promising -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (1432)	11/16/1998 9:08:00 AM
From: Frank Haims	Read Replies (1) \| Respond to of 10280

Thanks Peter that was what I hoped to find out. Looks good. Frank

To: Biomaven who wrote (1432)	11/17/1998 12:10:00 AM
From: Vector1	Read Replies (5) \| Respond to of 10280

David Maris of Bear Stearns does not like this company. Any thoughts on his note. SEPR: Single Isomer Oxybutynin Disappoints *SEPR announced results from a Phase II trial on (S)- oxybutynin, a compound being studied for the treatment of urinary incontinence. We believe that the data is not compelling, and at this point does not point to an advantage over PNU's Detrol or AZA's Ditropan XL. This data is especially disappointing given that as recent as last week the company had been encouraging enthusiasm in advance of the release, which caused undue weakness in AZA shares last week as well. We believe that the data shows the risks of single-isomer product development - while the promise for improved efficacy and side effects are there, delivering these in a product may not be as clear cut with each product candidate. We are eliminating the product from our year 2000 estimates, reducing our US sales forecast in 2001 from $30 million to $20 million, and from $62.5 million to $40 million in 2002. result, we are lowering our EPS estimates as follows: 2000 $1.05 from $1.15 (-$0.10); in 2001 $3.70 from $3.80 (-$0.10); and 2001 $5.30 from $5.50 (-$0.20). While the product was not expected to be a net contributor in its first year, we have increased R&D spending to reflect the later than expected launch, which drives our lower 2000 estimate. *Reiterate Neutral - Put SEPR profits to work in AZA. It should be noted that there was a conference call for sell-side analysts only, held yesterday morning from which we were excluded and management has not returned our repeated calls during the past week.