Fly News Breaks for May 2, 2016
May 2, 2016 | 09:02 EDT
Leerink analyst Jason Gerberry says this morning's announcement that FDA has approved Flamel's Akovaz does not present a major surprise, with the company having already included Akovaz sales in its 2016 guidance. Flamel will launch the injectable pressor agent for treatment of hypotension in Q3, the analyst tells investors in a research note, adding that he forecasts about $100M in Akovaz sales in 2017. Gerberry notes that the FDA will make a decision on Akovaz NCE, or new chemical entity, status later this month and, in theory, it could confer 5 years of regulatory exclusivity. The analyst reiterates an Outperform rating and $16 price target on the shares.
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