For Immediate Release

Chicago, IL – December 29, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: AstraZeneca (AZN), Pfizer (PFE), Mylan Laboratories (MYL), Novartis (NVS) and Boston Scientific Corp. (BSX).

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Here are highlights from Monday’s Analyst Blog:

FDA Backs Crestor’s Wider Use

AstraZeneca (AZN) received a positive opinion from the US Food and Drug Administration’s (FDA) Endocrinologic and Metabolic Drugs Advisory Committee (EMDAC) regarding the expanded use of Crestor. AstraZeneca is seeking approval for Crestor to treat patients with normal cholesterol levels but having other risks of heart disease. The committee voted 12-4 in favor of Crestor after analyzing its benefit against possible risk in some patients. However, they were concerned that Crestor should not be used at random in patients with low risk.

Following the recommendation, AstraZeneca has moved one step closer to FDA approval. Although the FDA is not required to follow the committee’s opinion, it generally does so.

The panel’s recommendation was based on data presented from the JUPITER (Justification for the Use of statins in Prevention: an Intervention Trial Evaluating Rosuvastatin) study conducted with 18,000 patients. It was observed that Crestor lowered deaths, heart attacks and strokes in middle-aged people (above 50 years) with normal cholesterol level having heart disease.

Crestor is one of AstraZeneca’s key drugs logging sales of about $3.6 billion last year. The FDA approval is likely to increase the targeted patient population which in turn should boost sales. Wider application means Crestor will be able to target about 6.5 million new patients who were not taking cholesterol lowering drugs. However, the future growth trajectory of Crestor may not be that smooth since Pfizer’s (PFE) Lipitor will lose patent exclusivity in 2011. This will increase competition in the cholesterol lowering market with the entry of generics.

In addition, AstraZeneca is tied in litigation with seven generic drug companies including Mylan Laboratories (MYL), Sandoz, the generics arm of Novartis (NVS) and Apotex among others who have challenged Crestor’s patent. The trial is likely to begin in Feb 2010.

BSX Settles DOJ Investigation

Boston Scientific Corp. (BSX) recently settled the U.S. Department of Justice (DOJ) investigation pertaining to certain post-market surveys conducted by Guidant Corporation before being acquired by Boston Scientific in 2006. Per the terms of the settlement, Boston Scientific has agreed to pay $22 million to DOJ, which was already being fully accrued. The investigation began in 2005.

Boston has also decided to enter into a Corporate Integrity Agreement (CIA) with the Office of Inspector General for the U.S. Department of Health and Human Services that requires enhancements to certain compliance procedures related to financial arrangements with health care providers. These enhancements are related to Boston’s cardiac rhythm management business which it had acquired from Guidant.

We think that the expense of $22 million in relation to the DOJ investigation will have minimal impact on Boston ’s bottom-line. The company reported a strong third quarter in fiscal 2009. Earnings per share were 19 cents, considerably ahead of the Zacks Consensus Estimate of 14 cents and the year-ago earnings of 16 cents. Total revenues were $2,025 million, an increase of roughly 2% year over year.

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