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Fly News Breaks for July 22, 2016
VRX
Jul 22, 2016 | 10:36 EDT
BMO Capital analyst Gary Nachman called the Complete Response Letter issued for Vyzolta a "surprising" and "'disappointing hiccup" for Valeant, noting that most had assumed a relatively smooth approval for the glaucoma treatment. However, the CRL does not pertain to safety or efficacy and the manufacturing issues with Vyzolta are "probably fixable," said Nachman. Valeant had a "couple of positive developments" in its pipeline earlier this week, but the analyst noted that he has been more optimistic on the opportunity for Vyzolta than oral Relistor. BMO keeps a Market Perform rating on Valeant shares.
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