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Fly News Breaks for October 22, 2015
BDSI, ENDP
Oct 22, 2015 | 07:08 EDT
Deutsche Bank analyst Gregg Gilbert says Endo (ENDP) has a key pipeline event coming soon, possibly tomorrow. The company and partner BioDelivery Sciences (BDSI) are seeking FDA approval of Belbuca, which could be approved for moderate-to-severe chronic pain. The FDA action date is tomorrow, October 23. Belbuca is a novel formulation of buprenorphine that has potential advantages over opioids, Gilbert tells investors in a research note. The analyst views the drug as one of Endo's most important pipeline assets. He models launch in 2016 with year-five sales of $250M, equating to $7 per share of value in his model. Gilbert keeps a Buy rating on Endo with an $88 price target.
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