Tribute Pharmaceuticals Canada Inc. (fka TBUFF)

[Ruffieruff]

Nice mention.
Cowen ups Watson to outperform; Stellar’s Uracyst high in rationale
May 7, 2010 by leonardzehr · Leave a Comment
Cowen & Co. upgraded Watson Pharmaceuticals (NYSE:WPI) to “outperform” from “neutral,” saying it has “significantly underappreciated its brand pipeline” and making an earlier reference to the potential of Stellar Pharmaceuticals’ (OTCBB: SLXCF (SLXCF 1.15 ?0.00%)) Uracyst drug for painful interstitial cystitis/painful bladder syndrome.
Analyst Ken Cacciatore writes that Uracyst, which is sold in Canada by Stellar and in Europe by multiple commercial partners, “looks very promising.” Watson licensed Uracyst for the U.S. market in 2006.
He figures the drug has a peak sales potential of $200 million (U.S.), assuming a U.S. patient population of about two million, with about 50% diagnosed and treated, and peak penetration within that treated population of 35%, using seven-to-10 vials per patient annually at a $75 wholesale price per vial.
Watson’s pivotal clinical study, which started in July, 2009, should conclude by the end of 2010. Mr. Cacciatore expects that Watson will file for marketing approval with the FDA next year, with a decision likely by mid-2012.