Celgene Corporation (CELG)

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Celgene patent settlement a positive, says Piper Jaffray
Piper Jaffray analyst Joshua Schimmer views Celgene's settlement with Natco for the Revlimid Paragraph IV patent challenge as "creative and a positive." The news removes the overhang that allows the company to continue managing towards 25% annual earnings growth through the middle of the next decade, Schimmer tells investors in a research note. The agreement allows a limited generic launch in 2022, the analyst points out. Celgene remains one of his top biotech picks with an Overweight rating and $163 price target