Valeant (VRX) Derm NRx Up Week-Over-Week, Ophth NRx Down - RBC
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RBC Capital analyst Douglas Miehm provided the latest weekly script data on Valeant Pharmaceuticals (NYSE: VRX), noting Derm NRx were up 0.6% week-over-week and ophth NRx decreased 0.9% week-over-week.
"For the week ending August 19th, new derm scripts (NRx) were up 0.6% vs. down 1.5% the prior week. NRx in the week were 50,542, up slightly from 50,246 the prior week. Derm TRx were up 1.6% WoW vs. down 1.3% the prior week. TRx were 73,132 vs. 71,963 the prior week. Exhibit 1 outlines derm script trends. We have not included Symphony data for the past two weeks due to delays in reporting and missing product data. We continue to closely watch derm TRx/NRx trends to assess whether the recently implemented co-pay increases (outlined in our Q2/16 Results note) have an impact on scripts that run through the Walgreens program.
For the week ending August 19th, new ophth scripts (NRx) were down 0.9% WoW vs. down 0.7% the prior week. NRx were 42,120 vs. 42,487 the prior week. We note that this is the fifth consecutive week that ophth scripts have declined WoW. Ophth TRx were down 0.6% WoW to 55,812 TRx vs. down 1.5% the prior week. Exhibit 2 outlines ophth script trends."
The firm maintained a Sector Perform rating and price target of $36.00.
Shares of Valeant Pharmaceuticals closed at $31.09 yesterday.
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