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

To: Dan Spillane who wrote (7753)	5/27/1999 5:46:00 PM
From: Joe S Pack	Read Replies (1) \| Respond to of 9523

Dan, I am with you. I added some more today. Though I missed the bottom I am positioning to keep cost dollar averaging in case it visits sub 100. I will also be party to LEAPS as and when it visits sub 100. I like ZPEAD on a better risk versus reward basis. One more month to go before split occurs and by that time these purchases will look like a very good move, IMHO. -Nat

To: Dan Spillane who wrote (7753)	5/27/1999 6:22:00 PM
From: Anthony Wong	Respond to of 9523

Dan, it's too good an opportunity to miss, when the stock price is down to the low 100's from $150.

To: Dan Spillane who wrote (7753)	5/27/1999 6:28:00 PM
From: Anthony Wong	Respond to of 9523

OSI May Get $50 Mln From Pfizer for Drug Research (Update1) Bloomberg News May 27, 1999, 4:20 p.m. ET OSI May Get $50 Mln From Pfizer for Drug Research (Update1) (Closing share prices) Uniondale, New York, May 27 (Bloomberg) -- OSI Pharmaceuticals Inc., a biotech company with a cancer drug in human testing, said it could get up to $50 million over six years from Pfizer Inc. for research into treatments for wrinkles, hair loss and skin pigmentation. OSI will pursue this research through a collaboration with New York University researchers. OSI could receive royalties on products developed from the collaboration, which could result in testing of its leading compound, a treatment for age spots, in 2000. OSI and Pfizer, the No. 2 U.S. drugmaker, are looking together for ''quality of life'' products, treatments for signs of aging that may not be threats to health. Drugmakers expect demand for these drugs to grow as baby boomers age. In 1998, Pfizer introduced one of the most successful of these new kinds of drugs, the anti-impotence pill Viagra. ''We see enormous opportunity here,'' said Colin Goddard, OSI Pharmaceuticals's president and chief executive, in an interview. Shares of New York-based Pfizer, second only to Merck & Co. among U.S. drugmakers, rose 2 7/8 to 103 7/8. OSI rose 1/4 to 5 1/2. OSI, based in Uniondale, New York, rose 1/8 to 5 1/4. So far in 1999, shares of the company have risen 79 percent, boosted in part by prospects for the cancer drugs OSI is developing with Pfizer. Pfizer already has given OSI $50 million for cancer research, Goddard said. In the first quarter, Pfizer moved an OSI cancer drug into the second of three stages of testing required to apply for U.S. approval, Goddard said. That means the drug fared well enough in earlier safety tests to advance to a larger group of patients. Pfizer and OSI also are working together on three other cancer drugs. At least one of these could be in the early stage of testing in people by the end of the year, Goddard said. Like many biotechnology companies, OSI has never made a profit and isn't likely to in the next few years. In the first six months of 1999, it lost $3.3 million on revenue of $11 million. By the end of 1999, OSI expects to have about $18 million in cash available. Although the company spends about $30 million a year, it is confident that it won't have to sell new shares to raise money, Goddard said. Before joining OSI in 1989, Goddard, 40, spent four years at the National Cancer Institute in Bethesda, Maryland. In addition to Pfizer, OSI has partnerships with the German drugmakers Hoechst AG and Bayer AG and Japan's Sankyo Co. OSI said it expect to enter another partnership with a drugmaker by the end of 1999. This one will focus on the company's diabetes research, Goddard said.