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Biotech / Medical : PFE (Pfizer) How high will it go? -- Ignore unavailable to you. Want to Upgrade?

To: BigKNY3 who wrote (7408)	4/15/1999 11:24:00 PM
From: BigKNY3	Respond to of 9523

-------------------------------------------------------------------------------- CNBC's FABER REPORT: Did Pfizer Warn? The following report was aired Thursday on CNBC-TV by CNBC reporter David Faber: "Did Pfizer warn? The drug giant has told analysts it is now looking for a range of between $2.40 and $2.50 in earnings for this year. And that would appear to be somewhat lower guidance since most analysts have estimates closer to $2.50 a share. Now, that is kind of a vague warning if you will. But, the maker of Viagra and the co-marketer of other large selling drugs, such as Celebrex and Lipitor, has a history of giving conservative guidance only eventually to exceed that guidance. On that conservative guidance or warning, depending on how you look at it, Pfizer shares are down about 10% on the day. The company is widely credited with having both a deep pipeline and a broad portfolio of drugs. And because of that, it has sported a multiple of roughly 60 times estimated earnings for this year and about 50 times the $3.00 in earnings that analysts have been guided to by the company for next year. Keep in mind those numbers may come down a bit with today's guidance. Given today's fall, those multiples are certainly coming down as well.

To: BigKNY3 who wrote (7408)	4/15/1999 11:26:00 PM
From: BigKNY3	Respond to of 9523

Pfizer Earnings -2: Celebrex Helps Lift Alliance Revenue 04/15/99 Dow Jones News Service Celebrex, Monsanto & Co.'s (MTC) new arthritis treatment launched in February and co-marketed by Pfizer and Monsanto's G.D. Searle division, helped push Pfizer's first quarter alliance revenue to $403 million from $150 million a year earlier. The sharp increase exceeded what some analysts had expected. Hambrecht & Quist's Corey Davis, who said it's difficult to estimate alliance revenue when exact terms of a deal aren't disclosed, had expected $380 million. "This is a pretty good sign that Pfizer's taking a pretty big cut of that," co-marketing deal he said. In early March, Celebrex, surpassed the blockbuster drug Viagra in generating record numbers of daily prescriptions early in its marketing cycle. Pfizer said Thursday that Celebrex is receiving more than 330,000 weekly U.S. prescriptions, more than any other arthritis treatment expect ibuprofen. Other Pfizer partnerships also contributed to alliance revenue. The company has an alliance with Warner-Lambert Co. (WLA) for the cholesterol-lowering drug Lipitor, and with Eisai Co. Ltd. for the Alzheimer's treatment Aricept. In the company's animal-health business, sales fell 1% to $286 million, hurt by a difficult operating environment including a weak livestock market in the U.S. and Europe along with foreign exchange. The current earnings estimates of $2.40 to $2.50 a share that Pfizer backed for the year represent a 20% to 25% growth in earnings per share from 1998, excluding the impact of certain charges and the divested medical technology group. The company said it expects to spend about $2.8 billion on research and development in 1999