Canaccord Genuity Morning Coffee on Columbia Labs (CBRX) and Watson Pharma (WPI): No Gel For You
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Rating Summary:
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Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
1 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Canaccord Genuity Morning Coffee on Columbia Labs (Nasdaq: CBRX) & Watson Pharmaceuticals (NYSE: WPI): No gel for you.
An advisory panel advised the FDA to reject a gel from Columbia Laboratories and Watson Pharmaceuticals, sending shares of the smaller Columbia tumbling on Monday. The gel, Prochieve, was aimed at reducing the risk of premature birth in women with a short cervix who are at higher risk of premature birth. A similar drug called Makena from K-V Pharmaceutical (NYSE: KV-A) is already available in the U.S., and the news sent shares of K-V higher on Monday.
Canaccord Genuity Life Sciences Analyst Randall Stanicky said the panel did not provide the upside surprise for Prochieve, which is disappointing, but he feels it is more than reflected in shares of Watson. He remains bullish on Watson, with his thesis intact despite the news regarding Prochieve. He believes today’s analyst meeting will provide a re-set bar that will leave several triggers to upside including an under-levered balance sheet and appetite for M&A.
An advisory panel advised the FDA to reject a gel from Columbia Laboratories and Watson Pharmaceuticals, sending shares of the smaller Columbia tumbling on Monday. The gel, Prochieve, was aimed at reducing the risk of premature birth in women with a short cervix who are at higher risk of premature birth. A similar drug called Makena from K-V Pharmaceutical (NYSE: KV-A) is already available in the U.S., and the news sent shares of K-V higher on Monday.
Canaccord Genuity Life Sciences Analyst Randall Stanicky said the panel did not provide the upside surprise for Prochieve, which is disappointing, but he feels it is more than reflected in shares of Watson. He remains bullish on Watson, with his thesis intact despite the news regarding Prochieve. He believes today’s analyst meeting will provide a re-set bar that will leave several triggers to upside including an under-levered balance sheet and appetite for M&A.
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