Top Three Pharma Gainers
Medivation, Inc. (NASDAQ:MDVN) saw a wonderful rally on Friday, closing 11.21% higher at $66.57. The rise was largely due to the excitement of Medivation’s partner Astellas Pharma’s success with a drug they joint offer in the markets – Xtandi. Recent survey by UBS urology, accredit Xtandi as a safe drug for prescribing chornic urology ailments. It is likely to be a great competitor for Jonhson*Jonhson’s Zytiga that it jointly offers with JNJ. Xtandi is an enzalutamide that may reduce risk of death by nearly 30%. More importantly, 81% reduction in progression of radiographic condition in patients is seen as the true area for prescription. MDVN is all set to gain in the next few quarters.
ARIAD Pharmaceuticals, Inc. (NASDAQ:ARIA) has been through some tough times in the last weeks. ARIAD has almost lost its much profiled drug – Iclusig- due to thrombotic toxicities. Shares have rallied to 7% of pre-market despite most analysts predicting the drug may not be introduced in the market in the near future. Few analysts do believe that ARIAD may adopt a secondary form of introducing the drug – by labelling it as REMS, for marketing purposes. ARIAD has revised its Q3 conference call to Nov 12.
Valeant Pharmaceuticals International, Inc. (NYSE:VRX) has been one of the top pharma gainers. Its Q3 results are viewed by analysts as a quarter where the company is in the transition stage. This is especially so, considering the fact that VRX has several of its components on restructuring mode. Again, the strong growth in B&L is expected to have VRX grow organically as well. Additionally, as costs stabilize and the increased growth noticed in emerging markets will eventually see a massive growth due to diversification as well. The price target is set at $130 and considering the performance on October 31, the rise should be around 23% believe analysts.