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Fly News Breaks for June 9, 2017
SHPG
Jun 9, 2017 | 06:55 EDT
Jefferies analyst David Steinberg lowered his price target for Shire to $216 saying after the FDA approved Zydus' generic to Lialda. The drug represents Shire's $800M-plus "flagship" gastrointestinal brand and the generic comes earlier than expected, Steinberg tells investors in a research note. The analyst thought technical and regulatory challenges would keep generics off the market for a few more years. He keeps a Buy rating on Shire.
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