SARASOTA, Fla., Oct. 19, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.: Wellstone Filters (OTCBB:WLSF); Chiron Corporation (Nasdaq:CHIR) and Biogen (Nasdaq:BIIB).
Savvy investors may want to take a look at Wellstone Filters (OTCBB:WLSF), a company that develops and patents filter material that removes certain carcinogens and other toxins produced when tobacco is smoked, without removing the compounds thought to be associated with the pleasurable effects of smoking. The company announced after the closing bell on Monday that it is planning to market its new cigarette lines in the countries of the European Union.
Wellstone Filters believes that its new full flavor cigarette will be able to come well under the levels of the European Union's 2001 directive on tobacco products, stating that nicotine and carbon monoxide levels from tobacco products are limited, respectively, to 10mg, 1mg and 10mg. Also in the European Union, the use of descriptive words in cigarette advertising such as "light" and "mild" are banned as deceptive, and in the U.S., approximately 82 percent of cigarettes are marketed as "light" or "low" tar. But, as studies have shown, light cigarettes raise just as many health concerns as regular cigarettes do, mainly because smokers compensate by smoking more, or inhaling more deeply.
Wellstone Filters said that its proprietary filter aims to provide better taste while filtering certain carcinogens, with the goal of reducing overall ingestion of carcinogens and consequent deaths caused from smoking. Continued tobacco use may be responsible for over a half a million deaths per year in the 15-member European Union, and even more in the recently expanded EU. In Germany and Greece approximately 37 percent of adults are smokers.
L. J. Hand, Wellstone Filters CEO stated, "American brand cigarettes have always been popular in Europe. We intend to be a leader in sales there due to our novel, patented approach to filtration."
WLSF is currently trading at around 59 cents a share.
Other Health Care Stocks in the News on Monday;
Chiron Corporation (Nasdaq:CHIR)
Monday morning, the U.S. Food and Drug Administration Team announced it had completed inspection of Chiron Corporation's Liverpool Flu Vaccine Plant in Liverpool, England, and concluded that none of the influenza vaccine manufactured by Chiron Corp. for the U.S. market is safe for use.
On Friday evening, the biopharmaceutical company Chiron Corporation announced that it is unable to meet the public health needs for the current influenza season. The company said that it is committed to resolving the concerns raised by regulatory authorities in the United Kingdom and the United States.
CHIR closed Monday's regular trading session up 32 cents at $32.80, on volume of 3.6 million shares.
Biogen (Nasdaq:BIIB), (NYSE:ELN)
Shares in Irish drug maker Elan Corp. gained 6 percent, or 1.29 Monday, after reports that Biogen Idec Inc., its main U.S. research partner, could put in a friendly takeover bid. Elan and Biogen Idec are together developing Antegren, a drug they hope can eventually be used to combat multiple sclerosis. The U.S. Food and Drug Administration is scheduled to announce whether the drug can be sold on the American market on Nov. 26.
In response to a query by the Irish exchange, Elan issued a statement saying it was not in talks with Biogen about a merger or business combination.
Shares of BIIB closed Monday's regular trading session at $58 on volume of 2.2 million shares, while ELN ended then session at $22.55, on high volume of 2.2 million shares.
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