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  • rckolon rckolon Dec 29, 1999 2:42 PM Flag

    CNBC 12/29/99 - 9:08:02 AM

    Two factors seem to be inhibiting the drug sector
    lately. One is the poor pipeline for the major pharm's.
    The other is that Congress has noticed that drug
    manufacturers have a higher profit margin and pay less taxes
    proportionately, compare to other businesses. Congress is suppose
    to discuss this situation in January.

    Being
    an Irish company, Elan does very well with their tax
    benefits.

    Hopefully, Congress will do nothing stupid like price
    controls. The winning drugs help pay for the losers that do
    not make it to market, which are in the big majority.
    Getting a drug thru the FDA is no easy task, and it's
    expensive.

    The drug sector will probably rally when Congress
    makes it up its mind. It seems like a good long term
    play.

    Rich

 
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