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Fly News Breaks for December 5, 2017
DEPO, COLL
Dec 5, 2017 | 07:51 EDT
Needham analyst Serge Belanger raised his price target on Collegium Pharmaceutical (COLL) after its agreement with Depomed (DEPO) to license U.S. commercial rights of Nucynta and Nucynta ER. Belanger says the transaction allows the company to "leverage its commercial infrastructure given the significant overlap with Xtampza's target audience of pain specialists", estimating that it adds about $3-$5 to the company valuation. The analyst keeps his Buy rating on Collegium Pharmaceutical, noting that the deal moves up the timelines for profitability.
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