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

Evening Standard - London › December 21, 2004

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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.

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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...

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