Morgan analyst Carl Seiden sees Vanlev differently, and as a result has a "long-term buy" on the stock.
"We've had some four and a half months go by without the outward appearance of meaningful progress, " Seiden says.
Seiden and Hazlett agree that if they can get the product out, they can get Claritin users to switch.
Neither Seiden nor Hazlett found comfort in comments by Schering-Plough's Chairman and Chief Executive Richard Kogan at an analyst meeting yesterday.
Seiden thinks that if Schering can ramp out Clarinex before springtime of 2002--next year's hayfever season--they can switch many patients over.
"Outsiders were led to believe that Raul Cesan was the man with the ultimate responsibility for fixing the manufacturing problems, " says Seiden.
Morgan drug analyst Carl Seiden in a research note shortly afterward.
"The recent opt-outs are MUCH LESS of a threat, " Seiden wrote.
"The one thing he wanted me to tell all of you is President Obama may have gotten Osama bin Laden, but he didn't kill the ideology, " Seiden said.
There are no new, exciting drugs, and risks to its estrogen replacement franchise continue to cloud the company's prospects, though Seiden predicts solid earnings growth over the next several years.
"It makes me think that either they're very confident in the compound, or that they think that their opportunity is so slim as a late, me-too compound that it is worth taking a swing for the fences, " says Carl Seiden, a pharmaceuticals analyst at J.
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