Per the S&P: Although we consider DNA a core biotechnology holding, we see the shares as appropriately valued, given slowing growth trends across the product portfolio.We see recent FDA accelerated Avastin approval in metastatic breast cancer supporting the shares, preserving prior offlabel prescribing, and expect full approval as new studies confirm progression-free survival trends.We remain positive on DNA's long-term pipeline, with 15 new compounds entering clinical study in the first two years of a five-year, 30 new compound goal, and see DNA well positioned to benefit from robust free cash flow ($800 million in the first quarter), $7.1 billion in cash, and the possibility of acquiring new assets or repurchasing shares.
$77.72 (07/06/08)
