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Biotech / Medical : Merck -- Ignore unavailable to you. Want to Upgrade?

To: Epicenter who wrote (1106)	12/10/1998 1:19:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 1580

Epicenter, there are two ratings cut (Deutsche Bank and Warburg) among the six. Maybe the others are still encouraged by the news re. the new drugs in the pipeline, especially on Vioxx. Deutsche Bank cut its rating and the target is $175, CIBC Oppenheimer has a strong buy and the target is also $175. Merck's revenue from the patent expiring drugs in 2001 may be cut in half from $3.5B to under $2B; if their new drugs' revenue can't cover this shortfall, then they may not even be able to grow 14% a year. The next 2 years is crucial. They still have some 9 new drugs to be introduced in the next 2 years, I believe.