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Biotech / Medical : Pharma News Only (pfe,mrk,wla, sgp, ahp, bmy, lly) -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Wong who wrote (1326)	1/19/1999 1:21:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 1722

Pfizer 4th-Qtr Profit Rises 42% to 54C a Shr: Instant Insight Bloomberg News January 19, 1999, 11:14 a.m. ET Expected Market Reaction Increase. Pfizer Inc.'s profit from continuing operations rose 42 percent to $711 million, or 54 cents a share, from $500 million, or 38 cents a share. The maker of the impotence pill Viagra and the depression medicine Zoloft was expected to earn 52 cents a share, the average estimate of analysts polled by First Call Corp. Behind the Numbers Pfizer began selling Viagra in Europe in the fourth quarter, which will add to its profits. Pfizer also completed the sale of its last medical-device unit in the fourth quarter, shedding this business to let it better concentrate on pharmaceuticals. While spending more than $2 billion a year on drug research, Pfizer began a further expansion of its sales force in the third quarter, part of a goal of adding 1,100 new representatives. The new hires could help Pfizer sell its own drugs, such as the heart medicine Norvasc and the antibiotics Trovan and Zithromax, as well as with the introduction of Celebrex, a new arthritis medicine from Monsanto Co. that Pfizer is marketing. What the Experts Say ''They've got strong growth across the board. Zithromax should have had a terrific quarter. Norvasc is still doing well,'' said Jeffrey Chaffkin, an analyst with PaineWebber, who has a ''buy'' rating on Pfizer. Previous Market Reaction Pfizer fell 5 1/2 to 87 1/2 on Oct. 13 after reporting third- quarter profit from operations that fell short of analysts' estimates. Some analysts hadn't counted on sales of Viagra slowing. Viagra had $411 million in sales in the second quarter, its first three months on the market. In the third quarter, sales fell to $141 million as the novelty surrounding the world's first pill to treat impotence diminished. Market Trend Pfizer had risen 33 percent to 115 15/16, as of Friday, since reporting third-quarter earnings. --Kerry Dooley in the Princeton newsroom (609) 279-4016/gfh