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Biotech / Medical : wla(warner lambert) -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Wong who wrote (433)	1/20/1999 1:40:00 PM
From: Greg Jenkins	Read Replies (1) \| Respond to of 942

I just got in at $69. The following is from Individual Investor website. iionline.com. which listed WLA as one of the 25 stocks to own in 1999. Ready to Trade? Visit Our Warner Lambert is Fine Despite Rezulin Controversy: Buy (1/20) Individual Investor Online Analysis On January 15, Warner Lambert (NYSE: WLA) said that Rezulin, the company's FDA approved drug for type 2 diabetics will be reviewed by an FDA advisory committee on March 26, 1999. There has been concern that Rezulin has led to patient deaths. It has been known for quite some time however that use of the product could lead to toxicity of the liver, and abnormal liver function. It has been the company's position, and thus far the FDA's position that the product has been more helpful than harmful to patients, and that the product should remain on the market. The company hopes that this review will help alleviate public concern. We tend to agree and believe this "airing" may clear the air much as was the case when Elli Lilly's (NYSE: LLY) Prozac was reviewed and a clean bill of health was issued several years ago. Warner Lambert's spokesman, Jack Howarth recently said, "Warner Lambert is not concerned at all with a review of Rezulin. There are thousands of individuals who are more than happy with this product, and the fact that it has saved their lives." Howarth went on to say that he did not believe that this review of safety and efficacy data would yield any adverse consequences. Howarth said that it "is not uncommon for a controversial product, as Rezulin has certainly been, to be reviewed. In the end this could help us." The company's sentiments were essentially echoed by CIBC Oppenheimer analyst Steven G. Gerber, who rates the stock a "buy". Gerber said "that the FDA review should have no impact on the company. Certainly we not believe that the product would at all be shelved or recalled". Gerber believes that the company will earn $0.40 per share in the fourth quarter ending December 31, 1998, and $1.48 per share for FY 1998. In FY 1999 his estimates are $1.95 per share. His price target is $80.00 per share. Rezulin is taken by roughly 1.4 million Americans. In the third quarter alone Rezulin generated $181 million in revenue for the company despite "public concerns" about the safety and efficacy of the product. In FY 1999 it is estimated to generate $1 billion in revenue for the company. This is equivalent to about 7.8% of total estimated revenue of just over $12 billion in FY 1999. Analyst: Glenn S. Curtis Updated January 20, 1999 with WLA trading at $65.81. Recommended 11/16/98 at $73.63 WLA Analysis Archive I.I. Online's profiles are condensed reports on companies that may be attractive investment opportunities. You should thoroughly investigate any company presented here before making any investment decisions. you can get their complete analyst at their website. you will have to register but is free. greg