Markets & Finance

Bear Stearns Ups Pharma Resources Estimates

Bear Stearns raised its estimates on Pharmaceutical Resources (PRX).

Analyst Joseph Riccardo says an upward revision reflects a profit contribution from the launch of its generic Prilosec drug to treat gastroesophageal reflux. Riccardo says Prilosec could contribute roughly $0.50 in incremental earnings per share in 2003, declining to $0.39 by 2005. He sees $0.42 fourth quarter earnings per share, and $2.20 for 2002 (excluding the potential positive impact of generic Prilosec).

Riccardo raised the $1.70 2003 earnings per share estimate to $2.25, which includes a $0.56 contribution from Prilosec, but excludes the potential impact from generic Paxil and Rebetol. He is keeping his outperform rating on the shares.

Later, Baby

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

blog comments powered by Disqus