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Fly News Breaks for May 25, 2016
ANAC, LLY, WBA, VRX
May 25, 2016 | 06:55 EDT
Deutsche Bank analyst Gregg Gilbert says his firm's survey of 50 dermatologists indicates Valeant Pharmaceuticals' (VRX) transition from Philidor has impacted prescribing. Prescribing of Valeant drugs has decreased for around half of the doctors surveyed since the company ended its use of Philidor in January, Gilbert tells investors in a research note. Around 42% of the doctors view Valeant's new Walgreens (WBA) program as inferior to Philidor, the analyst points out. Gilbert adds, however, that the survey also indicated Valeant's brodalumab could capture meaningful share for plaque psoriasis with a clean label. The doctors also predicted meaningful share growth for Eli Lilly's (LLY) Taltz for psoriasis and significant share potential in atopic dermatitis for Anacor Pharmaceuticals (ANAC) and Pfizer's (PFE) crisaborole. Valeant, which is currently not rated at Deutsche, closed yesterday down 8c to $26.13.