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Fly News Breaks for August 17, 2018
TEVA, ATRS
Aug 17, 2018 | 09:21 EDT
After the FDA announced the "long-awaited" approval of Antares Pharma (ATRS) and partner Teva's (TEVA) generic EpiPen, H.C. Wainwright analyst Oren Livnat said his estimates include nearly $40M in peak EpiPen revenue to Antares from the "biggest partnered pipeline opportunity" the company has modeled by his and consensus estimates. Livnat, who said he is not aware of any other substitutable EpiPen generics on the way, views the product as a sustainable contributor and raised his price target on Antares shares to $4.50 from $4.00 following the news. Livnat, who assumes Teva launches quickly after final label packaging, but believes that Teva "unfortunately" will miss the big EpiPen back-to-school prescribing season, keeps a Buy rating on Antares shares.
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