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Fly News Breaks for September 2, 2015
TSRO, OPK
Sep 2, 2015 | 10:34 EDT
Ladenburg analyst Kevin DeGeeter estimates peak U.S. Varubi sales of $450M and worldwide sales nearing $700M. Under the terms of the partnership with TESARO (TSRO), OPKO Health will receive a mid-teens royalty on global sales, DeGeeter tells investors in a research note. He reiterates a Buy rating on OPKO with a $20 price target after TESARO received approval from the FDA. The approval clears the way for TESARO to make a regulatory filing for intravenous formulation of Varubi as early as Q4, the analyst points out.
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