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Teva Pharmaceuticals (NASDAQ:TEVA) stands to be a big winner from the opening up of the market for generic versions of Lipitor. In an agreement with India’s Ranbaxy Laboratories, TEVA shares profits from the first 6 months of sales by Ranbaxy of its newly-approved cholesterol-lowering drug. Analyst Priti Arora speculates the deal was an insurance policy for Ranbaxy in case it didn’t land approval. However, it is all the better for TEVA because it is now ending up as “free money” for TEVA.
Watson Pharmaceuticals (NYSE:WPI) took a hit after Ranbaxy Laboratories landed FDA approval to sell a generic copy of Lipitor. But the firm received some good news when health insurer WellPoint (NYSE:WLP) announced it would favor WPI’s drug version with a $10-$15 co-payment over Pfizer’s (NYSE:PFE) brand name. Watson should also see a major boost with Wal-Mart’s (NYSE:WMT) announcement that it will sell its version of Lipitor.
Anthera Pharmaceuticals (NASDAQ:ANTH) jumps in early trading after Collins Stewart intitatees the shares with a Buy and a $13 price target. The firm says the drug developer has a couple of solid drugs in the pipeline for 2012, one for acute coronary syndrome and another for lupus. They could become practiced standards of treatment for care. Additionally, Wedbush ups the shares to Buy on valuation as well.
Oncolytics Biotech (NASDAQ:ONCY) moves up. Upward bound after announcing its Phase 2 interim data from clinical trials, using an intravenous administration of its pancreatic cancer drug Reolysin in combination with other drugs, ONCY successfully reached its primary endpoint.
Exelixis (NASDAQ:EXEL) takes a hit on a Lazard downgrade. Now at neutral, the firm says it has concerns over certain clinical and regulatory risks associated with the drug developer’s 306 pain trial after presentations at its R&D day.
Investing Insights: Tech Business Recap: Groupon Takes Heat, Verizon Shakes the Spectrum.
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