Brokers Purring About Cat After Pounds 30m Win Over Abbott ; Market Report

Evening Standard - London (December 21, 2004)

Author: Mickey Clark

Linked as:

Summary

BROKERS are continuing to raise their forecasts and ratings for Cambridge Antibody Technology, up 231/2p at 737p, following yesterday's victory over Abbott Laboratories in the High Court.

The ruling, forcing Abbott to pay CAT more in royalties, will result in an extra Pounds 30 million a year in revenue. The two sides got together in 1993 to develop a genetically engineered antibody to treat rheumatoid arthritis.

See the full content of this document

Extract

Brokers Purring About Cat After Pounds 30m Win Over Abbott ; Market Report

UBS has raised its recommendation on the shares from reduce to neutral and lifted its target price from 535p to 825p. US broker Lehman reckons C...

See the full content of this document