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Fly News Breaks for December 19, 2016
MYL, ADMP
Dec 19, 2016 | 08:33 EDT
Maxim analyst Jason Kolbert said Adamis Pharmaceuticals' (ADMP) resubmission of its New Drug Application for its epinephrine pre-filled syringe, a generic version of Mylan's (MYL) EpiPen, addresses all the issues in the FDA Complete Response Letter and triggers a 30 day review to "accept" the filing, which should be followed by a six month PDUFA date and approval by June of next year, he believes. Adamis' version is more user friendly, design wise, than Mylan's generic and the market opportunity is large, said Kolbert, who thinks that this can become a significant product for the company "even with just moderate market share assumptions." He keeps a Buy rating and $10 price target on Adamis, which he sees as "poised for a breakout" in 2017.
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