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

To: Anthony Wong who wrote (1176)	2/13/1999 12:23:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 2539

Consumers Fear Gen-Food Rats Fed on GM Potatoes Suffer from Damaged Organs abcnews.go.com

To: Anthony Wong who wrote (1176)	2/13/1999 12:32:00 PM
From: Anthony Wong	Respond to of 2539

From ABC news: Friday's Midday Movers Monsanto very quietly dropped the development of two late-stage cancer drugs, making the company even more dependent on the success of its new pain and arthritis drug Celebrex. It also raises further questions about the quality of the research and development at Monsanto's drug unit Searle. The company recently killed two anti-blood-clotting drugs that they had hoped would be blockbusters. The St. Louis Post-Dispatch reported yesterday that the company had killed daniplestim, a blood cell stimulant that was in Phase III and promegapoietin, a platelet booster in Phase II. But Wall Street didn't catch on until today, when Brown Brothers Harriman, which rates the company a neutral, put out a morning note on the action. What's left from the program is a third anticancer drug, Leridistim, which is designed to prevent infections in cancer patients who have undergone chemotherapy. That has just begun Phase III clinical tests. "This leaves the company with practically no pipeline! Quite a comedown, even though Celebrex is blowing through the roof," emailed one money manager who is long the stock. MTC lately was off 1/2 to 47 11/16. abcnews.go.com