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Fly News Breaks for May 31, 2016
ICPT
May 31, 2016 | 07:57 EDT
After the FDA approved Intercept's Ocaliva drug for PBC, RBC Capital says that the drug's "label looks quite good and better than expectations." However, the firm warns that the stock could be range bound this year as investors focus on the execution of the drug's launch ,and RBC believes that the drug's sales could miss expectations in 2017 and 2018. Nonetheless, the firm remains upbeat on the company's OCA drug and this keeps an upbeat long-term outlook on the name. It maintains an Outperform rating on the shares.
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