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David Burrows Angiotech Pharmaceuticals ANP-T DON'T BUY Aug 25, 2005

The medical device group is performing fairly well. The problem this company is having is that it is really a one product company which is a risk. Competition Johnson and Johnson (JNJ-N) has a product which is perceived to be safer so market share has dropped.

David Burrows

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biotechnology pharmaceutical

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BUY

The worst news is already in the stock. At these levels, it's a Buy. Have product pipeline starting to develop. Looking at drug eluding stents in the Japanese market.

COMMENT

Makes drug alluding stents. Its penetration rate in the US was 75% but has dropped to 65%. Will be launching in Japan in the fall. Have a lot of debt on the balance sheet and are in the process of selling assets.

DON'T BUY

They're very focused on one part of the business, which is stents. There is a lot of competition in this sector. Revenue projections have been dropping.

SELL

A one trick pony with its coated stent. There is lots of controversy on drug coated stents.

SELL

The whole market is going up, and this one is going down. Let someone else own it.

HOLD

Have had serious problems with their stents. The whole area is having issues. Excellent management. They have big pipeline and the technology is still excellent.

COMMENT

The stock has been hurt, but it is more of an issue because of stents. Sales projections are falling off. At this stage, you are probably facing tax loss selling for the rest of the month and then get a January bounce if the company has a decent outlook going forward. Competition has increased in this area.

DON'T BUY

Had 2 approvals, May 27 and June 8. This is on his Watch list but was far more interesting before May 27 so it now holds no interest for him. Might be okay for momentum players.

BUY ON WEAKNESS

(Market Call Minute.) A lot of biotech stocks have done well. Would buy on a pullback.

DON'T BUY

What hurts them was they levered up for an acquisition using debt at the wrong time and have never been able to get out from under that cloud of debt and he doesn't think they will.

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David Burrows Angiotech Pharmaceuticals ANP-T DON'T BUY Aug 25, 2005

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