Posted by jrbecker on August 28, 2004, at 14:57:32
at least that's what one investment company is predicting...
http://www.newratings.com/new2/beta/article_461357.html
Pfizer "strong buy"
Friday, August 27, 2004 10:23:45 AM ET
First Albany
NEW YORK, August 27 (New Ratings) – Analysts at First Albany reiterate their "strong buy" rating on Pfizer Inc (PFE.NYS). The target price is set to $42.Shares of Pfizer, a leading global pharmaceutical company, are currently trading at $32.31.
According to First Albany's research note published this morning, Pfizer is likely to receive the FDA approval for its Lyrica (Pregabalin) drug by early next week. The analysts mention that the company has applied for the regulatory approval of Lyrica in the treatment of pain, epilepsy and generalized anxiety disorders in adults. Pregabalin has already received the European Union regulatory approval in July this year, First Albany says.
The approval for Lyrica, a follow-on drug to Pfizer's blockbuster product Neurontin, is significantly important for the company, since Neurontin has started facing limited generic competition, the analysts say. Pfizer is likely to witness full-fledged competition in its Neurontin franchise from the generic drugs later this year or by next year, First Albany adds. The analysts expect the company to launch an aggressive campaign for a switch from Neurontin to Lyrica, in order to offset the generic competition risks for Neurontin.
The EPS estimates for FY04 ad FY05 are $2.12 and $2.39, respectively. The P/E estimates for FY04 and FY05 are 15.2x and 13.5x, respectively.
First Albany reiterates its "strong buy" rating on Pfizer Inc.
poster:jrbecker
thread:383355
URL: http://www.dr-bob.org/babble/20040825/msgs/383355.html