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Fly News Breaks for April 3, 2017
ACOR, ALKS
Apr 3, 2017 | 09:22 EDT
After the news that its partner Acorda Therapeutics (ACOR) had lost its patent case related to Ampyra, Credit Suisse analyst Vamil Divan points out that Alkermes (ALKS) manufactures Ampyra and receives an 18% royalty on global sales, which will likely start to decline after the remaining U.S. patent for Ampyra expires in July 2018. Nonetheless, the analyst remains bullish on Alkermes as he believes Vivitrol is a "significantly underappreciated" asset. He reiterates an Outperform rating and $78 price target on Alkermes' shares.
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