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MedImmune lowers FluMist guidance

Executive Summary

MedImmune reduces fourth quarter and full-year revenue guidance based on low demandfor its intranasal flu vaccine FluMist. Vaccine now expected to bring in $55 mil.-$85 mil. for 2003 instead of $120-$140 mil; total revenue expectations for the year reduced to $1.04 bil.-$1.1 bil. from $1.1 bil-$1.15 bil. MedImmune expects to record $10 mil. in FluMist "manufacturing supply goal payments and contractual reimbursements" in the fourth quarter and "manufacturing transfer payments and royalties" in the range of $7 mil-$37 mil. Wyeth has provisions in place for accepting FluMist returns (1"The Pink Sheet" Nov. 17, 2003, p. 35)...

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