For Immediate Release
Chicago, IL – April 16, 2010 – 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: Santarus, Inc. (SNTS), Par Pharmaceutical, Inc. (PRX), GlaxoSmithKline (GSK), Merck (MRK) and Depomed (DEPO).
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Here are highlights from Thursday’s Analyst Blog:
Santarus Down on Court Ruling
Santarus, Inc. (SNTS) suffered a major setback recently when a US District Court ruled against the company in a patent infringement case. The U.S. District Court for the District of Delaware ruled that five patents covering the company’s flagship product, Zegerid, are invalid.
Santarus had initiated the patent infringement case against generic player Par Pharmaceutical, Inc. (PRX). Par is seeking to launch its versions of Zegerid capsules and powder for oral suspension.
This ruling is a huge blow for Santarus, which was looking to protect Zegerid from generic competition. The company is entirely dependent on Zegerid for growth and the entry of generic versions of the product will be devastating for the company. Zegerid accounted for 69% of total revenues in 2009.
Although Santarus has been exploring other avenues to drive growth, we note that these will not be enough to make up for the loss of revenues once Zegerid goes generic. Apart from Zegerid sales, Santarus generates revenues from its licensing agreements with GlaxoSmithKline (GSK), Merck (MRK) and Norgine. The company also earns revenues under its co-promotion agreement with Depomed (DEPO) for Glumetza.
Meanwhile, pipeline candidates budesonide MMX and rifamycin SV MMX, if successfully developed, are not likely to hit the market before 2012.
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