Home > Boards > US Listed > Medical - Drugs > Medicis Pharmaceutical (MRX)

Piper Jaffray is upgrading Medicis (NYSE: MRX) to

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
christinat Member Profile
 
Followed By 0
Posts 43
Boards Moderated 0
Alias Born 07/14/10
160x600 placeholder
christinat   Monday, 02/28/11 10:51:43 AM
Re: None
Post # of 149 
Piper Jaffray is upgrading Medicis (NYSE: MRX) to Overweight from Neutral and raising the PT to $38. With Friday's settlement with Teva on the Solodyn generic litigation, with Teva not launching its generics on the 65 and 115 mg doses until February 2018 and on the 55, 80 and 105 mg doses until February 2019, Piper now has more confidence that cash flows from MRX's flagship product are sustainable.

With the greater clarity on Solodyn, plus net cash approaching $800M by year-end, and greater visibility on the pipeline, Piper believes that the potential for significant value creation potential as 2011 progresses is considerable.

Beyond Revance's topical botulinum toxin RT001, which Piper believes could be a significant long-term driver, MRX had not provided much visibility on its pipeline. On Friday however, it noted that it has 6 Phase II/III-stage products in dermatology and/or aesthetics, and conceded that NDA filings in 2011 are possible. Further, MRX remains highly active on the business development front, and suggested that it is exploring the addition of commercial-stage assets.


Source: http://www.benzinga.com/analyst-ratings/analyst-color/11/02/890157/piper-jaffray-upgrades-medicis-pharmaceutical-to-overweig#ixzz1FGl0QouU

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist