Zacks.com Features the Following Top Stocks in the Drugs Industry: Angiotech Pharma, Cubist Pharma, ImmunoGen, Johnson & Johnson, and QLT

Business Wire, Nov 22, 2004

CHICAGO -- The Vioxx withdrawal may have sent a shiver through the drugs industry, but the All Stars can keep you from catching cold in this innovative space. Read about Angiotech Pharmaceuticals, Inc. (NASDAQ:ANPI), Cubist Pharmaceuticals, Inc. (NASDAQ:CBST), ImmunoGen, Inc. (NASDAQ:IMGN), Johnson & Johnson (NYSE:JNJ) and QLT, Inc. (NASDAQ:QLTI). Discover the full story at Zacks.com http://at.zacks.com/?id=96

What Do The All Stars Recommend:

Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI) reversed a year-ago loss in the third quarter with adjusted operating net income of 31 cents per common share. An increase in royalty revenues, which were partially offset by an increase in operating expenditures, led to the advance of income for the quarter. Revenue reached $44.3 million, which included royalty revenue of $41 million, primarily derived from royalties received from Boston Scientific under the co-exclusive license agreement relating to sales of the TAXUS(TM) Express2(TM) drug-eluting stent.

Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) posted a third quarter net loss of (44 cents) per share, marking a substantial reduction from last year's loss. Also, the quarter's loss was approximately 11% narrower than the consensus. Total net revenue reached $19.4 million in the quarter and CUBICIN accounted for $18 million in net product sales. That was up 35% from the second quarter 2004.

ImmunoGen, Inc. (NASDAQ: IMGN): The company's proprietary TAP technology uses tumor-targeting monoclonal antibodies to deliver a potent cell-killing agent specifically to cancer cells. For its fiscal first quarter, ImmunoGen posted a loss of (6 cents) per share, but that was 4 cents narrower than the year-ago quarter and a penny narrower than the consensus. Revenues reached $9 million, versus $3.9 million last year. The company said it operated at cash flow breakeven while putting strong support behind its own product candidates.

Johnson & Johnson (NYSE: JNJ) proved once again why it's one of the preeminent companies in its space when it reported a solid third quarter in October. Diluted earnings per share reached 78 cents, which was up 13% from last year and ahead of the consensus by more than 2%. Sales of $11.6 billion advanced by 10.5% on a year-over-year basis. Domestic sales improved 5.9% while international sales increased 17.9%. Meanwhile, worldwide pharmaceutical sales jumped 13.4% to $5.5 billion.

QLT, Inc. (NASDAQ: QLTI): QLT's big product is Visudyne(R), which is the only drug approved for the treatment of a form of wet AMD, the leading cause of legal blindness in people over 50. Visudyne sales in the third quarter increased 27% to $114 million, with U.S. sales up 22%. Sales in the rest of the world advanced 32%. The strong performance from Visudyne helped GAAP earnings per share rise to 24 cents in the quarter, compared to 19 cents in the year-ago period.

For full analysis and top picks for this sector, click: http://at.zacks.com/?id=97

About Zacks All Star Analyst Survey

Learn which brokerage analysts are the best in their field and what stocks they're recommending today at Zacks All Star Analyst survey.

This exclusive survey, created with Fortune Magazine, reveals the "Best-of-Breed" brokerage analysts. They are the select group of winners from a field of 5,500 brokerage analysts - the ones who consistently beat the street - the few that individual investors should be following. Visit http://at.zacks.com/?id=98

All Star Top Picks Highlighted in FREE Investment Newsletter

Each week Zacks.com provides the All Star Top Picks for another sector followed by Wall Street's top analysts. It's included in Zacks free E-mail newsletter, "Profit from the Pros." and highlights the "All Star Portfolio," the exclusive stock list comprised only of stocks where 5 or more All Star Analysts consider it a strong buy. The only way to get these powerful insights is with a free subscription to the "Profit from the Pros" investment newsletter. Just visit http://at.zacks.com/?id=99

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 to compile, analyze, and distribute investment research to both institutional and individual investors. The guiding principle behind Zacks work is the belief that investment experts, such as brokerage analysts and investment newsletter writers, have superior knowledge about how to invest successfully. The goal is to unlock these pros' profitable insights for individual investors hard-pressed to find this valuable information in one source. A free subscription to "Profit from the Pros" weekly e-mail newsletter provides the best way to use these expert's insights for more profitable investing. Register for a free subscription to the Profit from the Pros newsletter at http://at.zacks.com/?id=100

Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.