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Biotech / Medical : Centocor ( CNTO ) -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (869)	12/11/1998 1:51:00 AM
From: FNS	Read Replies (1) \| Respond to of 965

Peter, Re: <<The reduced estimate, according to this, had nothing to do with the presumed hypersensitivity reaction.>> Yes, this is a true statement! ...and thanks for the clarification on the studies. But let's get real!!! On 11/23 CNTO confirmed adverse reactions of 10 patients in test of Remicade - and on 11/23, Robertson Stephens lowered CNTO to Long Term Attractive and lowered its estimates for 1998 and 1999! That day the stock dropped 9% and IMNX started to run with the ball. Meanwhile, CNTO continued South breaking critical support area and the several Analysts have revised their estimates -- some of which were initially blue sky -- and also perhaps stemming from news of the adverse reaction of the Chron's patients in Remicade test. Bottomline, I'm glad that estimates have been revised (but not sure if Holvek concurs!)...and I do feel strongly that the stock has been over sold and will recover 40%-50% of it's recent loss. (IMO!) Unfortunately, the street hammers CNTO on any kind of negative news. See link previously provided by Henry Niman: biocognizance.com FNS