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Fly News Breaks for April 12, 2017
TEVA, NBIX
Apr 12, 2017 | 07:37 EDT
Following Neurocrine's (NBIX) announcement of FDA approval of Ingrezza, or valbenazine, for adults with Tardive Dyskinesia, Leerink analyst Paul Matteis says that the language in the label looks to be a best-case scenario for the company as it outlines few safety risks and does not contain a black box warning for increased risk of suicidality. The analyst believes the latter adds to valbenazine's advantages over Teva's (TEVA) SD-809. Matteis moved his odds of FDA approval from 90% to 100%, reiterated an Outperform rating on Neurocrine's stock and raised his price target on the shares to $68 from $65.