Cantor Fitzgerald Maintains Buy on Jazz, FDA Develpments Positive
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Price: $250.68 +2.51%
Rating Summary:
33 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 14 | Down: 11 | New: 36
Rating Summary:
33 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 14 | Down: 11 | New: 36
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Cantor Fitzgerald today maintained a Buy rating on Jazz Pharmaceuticals (NASDAQ: JAZZ) with a price target of $86.00. Analyst Irina Rivkind thinks recent FDA developments will continue to favor Jazz.
"We continue to believe in a favorable settlement outcome on Xyrem that would allow Jazz to introduce its deuterated brand extension and preserve the revenues associated with the drug," said Rivkind.
"On Friday we learned that the agency has proposed a rule that would allow generic manufacturers to submit label changes to reference listed drugs (e.g., to update safety risks of a drug). One implied outcome of this rule is that consumers may be able to sue generic manufacturers for product liability if the generic label does not adequately represent known risks about a drug; another is that generic companies may have to independently track and report adverse events associated with their manufactured products (especially if the branded drug is pulled from the market while the generic is not) and update any associated REMS programs like a branded manufacturer . . . .We believe that the FDA's intent to impose more regulatory responsibility upon generic manufacturers could be a positive to Jazz's shared REMS negotiation since it may shift the power balance even further towards Jazz" said Rivkind.
For an analyst ratings summary and ratings history on Jazz Pharmaceuticals click here. For more ratings news on Jazz Pharmaceuticals click here.
Shares of Jazz Pharmaceuticals closed at $72.12 yesterday.
"We continue to believe in a favorable settlement outcome on Xyrem that would allow Jazz to introduce its deuterated brand extension and preserve the revenues associated with the drug," said Rivkind.
"On Friday we learned that the agency has proposed a rule that would allow generic manufacturers to submit label changes to reference listed drugs (e.g., to update safety risks of a drug). One implied outcome of this rule is that consumers may be able to sue generic manufacturers for product liability if the generic label does not adequately represent known risks about a drug; another is that generic companies may have to independently track and report adverse events associated with their manufactured products (especially if the branded drug is pulled from the market while the generic is not) and update any associated REMS programs like a branded manufacturer . . . .We believe that the FDA's intent to impose more regulatory responsibility upon generic manufacturers could be a positive to Jazz's shared REMS negotiation since it may shift the power balance even further towards Jazz" said Rivkind.
For an analyst ratings summary and ratings history on Jazz Pharmaceuticals click here. For more ratings news on Jazz Pharmaceuticals click here.
Shares of Jazz Pharmaceuticals closed at $72.12 yesterday.
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