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Fly News Breaks for February 23, 2018
LXRX
Feb 23, 2018 | 07:48 EDT
As reported earlier, Needham analyst Alan Carr downgraded Lexicon Pharma to Hold from Buy after the company's U.S. Xermelo sales came in below expectations. Carr cites the ongoing challenges that include "low number of patient starts and a large number of Medicare patients receiving free drug under a company assistance program". While the company believes that patient starts are rebounding, the analyst contends that Xermelo launch trajectory implies a more modest peak in sales.
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