Fly News Breaks for July 8, 2015
MRK, AGN, ALDR
Jul 8, 2015 | 08:57 EDT
Credit Suisse said Alder Biopharmaceuticals (ALDR) shares came under pressure following the announcement that Allergan (AGN) has signed a deal to license two of Merck's (MRK) oral calcitonin gene-related peptide receptor antagonists for treatment and prevention of migraines. The firm said the deal represents additional competition but believes the migraine market is large enough for multiple winners and remains bullish on the prospects for ADR403. Shares of Alder are Outperform rated with a $52 price target.
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