Piper Jaffray Upgraded Simcere Pharmaceutical (SCR) to Buy
More News related to SCR
- Halter USX China Index Announces Second Quarter 2008 Results and Adds New Constituents
- SCOR is admitted as a life reinsurer in Brazil
- SCOR establishes Asia-Pacific Hub
- Simcere Pharmaceutical Group Files Annual Report on Form 20-F
- SCOR establishes its Hub for the Americas
Piper Jaffray upgraded Simcere Pharmaceutical (NYSE: SCR) from Neutral to Buy with an $18 price target, in transferred coverage.
The firm said, "We believe the concern over generic competition on its edaravone products (Bicun/YDS, 33% 2007 revenue) is overblown. We obtained two critical pieces of information that led us to believe an irrational price war is unlikely to occur and the growth potential of SCR's Bicun/YDS franchise remains strong."
The firm also sees multiple potential catalysts in 2008 which should drive upside, including: Biapenem injection approval this month; top-line Endu Phase IV data release around mid year and formal data presentation at the Chinese Oncology conference in August; and quarterly earnings.
Related Categories
UpgradesStocks Mentioned
-0.79Related Entities
Sign up for StreetInsider Free!
Recieve full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
