Although H1 results in February demonstrated strong YoY growth in prescriptions, the Tuzistra™ XR rollout continued to lag expectations. We continue to anticipate FDA approvals of follow-on products CCP-07 and CCP-08 by their respective PDUFA dates this year. However we have taken a more prudent view on the cough cold rollout, resulting in a target price downgrade from 37p to 28p. We retain a Hold recommendation.
20 Mar 2017
N+1 Singer - Vernalis - FY’17e upgrade, but further cough cold cuts
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N+1 Singer - Vernalis - FY’17e upgrade, but further cough cold cuts
Although H1 results in February demonstrated strong YoY growth in prescriptions, the Tuzistra™ XR rollout continued to lag expectations. We continue to anticipate FDA approvals of follow-on products CCP-07 and CCP-08 by their respective PDUFA dates this year. However we have taken a more prudent view on the cough cold rollout, resulting in a target price downgrade from 37p to 28p. We retain a Hold recommendation.