MP Advisors: Market Research Reports

... higher than our earnings estimate owing to the sharp improvement in gross margin. The improvement in gross margin (up by 330 bps, Y-o-Y) is largely due to the ... day exclusivity and (2) improvement in margin as contribution from Indore facility increases. For the longer term, CIPLA’s traditional business model ...

... all commercial metrics – global share and duration gains, continued expansion of market ... access through approvals and reimbursements in the US and international market, and noteworthy operating efficiency places Celgene ... – “Global Share Gains Continue + Pipeline Potential”.

Dainippon Sumitomo’s sole growth driver, Latuda sales is ramping up well and it is better than recently launched Saphris and Fanapt. Our analysis suggests that Latuda ... are expected to come positive and drive growth. Street perceives Latuda as just another atypical anti-psychotic in the ~$15.8b anti-psychotics ...

... sales in WHO member countries. We expect several growth drivers for Ipca in the near term. (1) US generics growth even without the ... WHO member countries and branded formulations (3) margin improvement as sales mix improves in favor of formulation sales. We see Ipca as the best bet in the domestic formulations ...

There are three major concerns for Takeda – 1) Takeda has got European exposure by the Nycomed acquisition, but as both ... is expected. 2) Safety related issues with Actos affects market prospects of Takeda’s key candidate Aloglipin’s combination drug with Actos and, 3) Pipeline ...

Sun Pharma’s Q1 FY12 result was largely in line with our ... performance was not quite upto the mark, however, EBITDA margin improved by 300 bps Q-o-Q (Y-o-Y not relevant owing to launch of ... peers in the pharma space due to its rich, highly probable and yet hidden Para IV pipeline, strong balance sheet, likely ...

... , increase in revenue base, and pipeline success – all have contributed to Biogen’s (BIIB) outstanding performance. Marketed products would sustain the growth ... read our report released on 29th July, 2011 on BIIB titled “Delivering Beyond Expectations – On the Strength of Innovative Products”.

Dishman’s Q1 FY12 result was below our expectations ... Amcis. The standalone EBITDA increased largely driven by sales from disinfectants in India, supply of intermediate of Brilinta to Astra Zeneca and ... most of them (except for Brilinta intermediate supply) coming from its non-CRAM business. On CRAMs part, we see ...

... reiterate our Underperform with target price of `360 on Lupin after its Q1FY12 result that reflected a reduction in ... fag end of the quarter impacted the overall performance. We have always remained concerned about Lupin’s thin US pipeline along with a ... higher depreciation to eat into the earnings of Lupin.

Pharmasset (VRUS) has created immense value for its shareholders by promising ... more detail, please read our note released on 28th July on Pharmasset titled “Poised to Deliver the Best Oral Option Against HCV Infection”.

... , we have analyzed Alexion (ALXN) future prospects. Full details are highlighted in the report, released on July 26, 2011, titled “Geography + Label Expansion = Long Term ...

BIOS 4QFY11 result was below our expectations on sales (excluding licensing income), but met our earnings estimate largely due to a lower than expected R&D expense. Licensing income too remained below estimate as it remains lumpy. Surprisingly biopharma sales (ex licensing income) grew by a modest 9% mainly ...

Dr Reddy’s Q1 FY12 result was in line with our sales estimate however, ... investor to the risks of execution. We reiterate our Market Perform rating on Dr Reddy’s.

Yesterday, the long awaited approval for Brilinta in ACS in the US finally came in. The approval comes with a black box warning of increased bleeding and restriction ...

... US next month (PDUFA: August, 20). What are the risks to its commercial success and future of REGN’s pipeline? A comprehensive analysis about the ...

In line with our expectation (see our note - ADA - 2011 - Interim Review And Key Take Away dated June 29, 2011), FDA Advisory committee voted against the approval of Dapagliflozin for adults with Type 2 diabetes (voting 9 vs. 6). The vote reflects the caution that has set in post Actos and Avandia saga - to ...

CDH’s Q1 FY12 adjusted result (adjusted to the milestone income from Abbott) was below our sales and earnings estimate. Higher base created in FY11 by pushing product sales last year to achieve the $1b sales mark was the main reason for a muted performance in most of the business divisions. While the ...

Novartis reported solid revenue growth driven by Sandoz, recently launched products and Alcon Acquisition. Going ... shape up in the longer term. Novartis is in better position to return back profits to investors compare to its global peers in unfavorable environment mainly due to its ...

Amarin Corp. (AMRN)’s lead product AMR101 (omega fatty acid – no DHA) has blockbuster ... being the best-in-class drug vs. approved drugs to treat hypertriglyceridemia. AMRN intends to file the NDA for hypertriglyceridemia – (TG level: ≥500 mg/dL) in 3Q11 ...

Xarelto 10mg/once daily is the first among the oral anticoagulants to win a USFDA approval for prevention of DVT (Deep Vein Thrombosis) in patients ... following hip or knee surgery. Earlier Pradaxa has failed to get an approval as it ...

... ) are favorable and increases our confidence in the potential of MITI’s BiTE (Bispecific T-Cell Engager) technology platform for developing better therapeutic ... please read our note released on 12th July on MITI titled “A Big BiTE - ALL Next”. With this purchase please inquire the discount on our ...

We reiterate our positive investment alert for Genzyme CVR (GZCVR), post announcement of top line results on Lemtrada (alemtuzumab, PhIII, ... expected in early 4Q2011 will decide Lemtrada’s positioning vis-à-vis Tysabri. A positive outcome from the study should support upto 70% upside to Genzyme CVR price.

... (EDSS) was not achieved (vs. reduction of 91% in PhII data at 36 months) in its pivotal PhIII trial – CARE-MS I. What does this bode for other players ... ? Please read our report, released on 11th July, 2011, titled – “Mixed CARE-MS I data – Good for BIIB!”

... note released on 7th July on Pharmasset and Medivir titled “Monetizing Polymerase + Protease Inhibitor: Two Good Can Become the Best”. With this report you ...

... details are highlighted in the report, released on July 5, 2011, titled “Niche Products, Label expansion and No Competition – Growth Drivers”. With this report, you will ...

... positive breast cancer indication (BOLERO-1 and BOLERO-3). Exemestane (Aromasin, Pfizer) is current standard of care in ER+veHER2-ve breast cancer patients whose disease ...

... rating on Astellas following announcement of JP approval for Betanis / mirabegron (β3-AR agonist, overactive bladder syndrome (OAB). Mirabegron is a key strategic product for ... able to maintain its leadership in the growing OAB market. Mirabegron will be targeted for those patients who are intolerant to ...

... cliff of 2014, many of the Indian companies are choosing the Para IV route to grab a higher market share, both in value and volume ... world’s top 11 products under litigation. This report is a comprehensive study of Para IV pipeline of the Indian companies and likely upside from each of the ...

Astellas has announced to sell future royalty of DPP IV inhibitors for $609m to Royalty Pharma, which it has acquired along with OSI acquisition. We do not ... case! Presently royalty earned from marketed drugs and most advanced pipeline candidate translate into > $750m for Astellas. With modest efficacy ...

Medivir’s Xerese fetched $45m for the company from Meda AB for US, ... , please read our report released on 29th June on MVIR titled “Monetizing Cold Sores to Focus On Improved Protease Inhibitors for HCV Treatment” and ...

... daily LAMA), meeting both, primary and the secondary endpoints. NVA237 demonstrated comparable safety and efficacy data vs. PFE’s Spiriva (once ... antimuscarinic side effects is potentially how, NVS might pitch NVA237 against Spiriva. We expect NVA237 to garner upto 25% of the LAMA market growing approximately ...

Our relative valuation reiterates GILEAD (GILD) and AMGEN (AMGN) as value buys. While GILD is trading at lowest PE’11, P/C, AMGN trades ... , please read our report, released on 29th June, 2011 titled, “Gilead and Amgen - Offer Long Term Value”.

We initiate our coverage on Medivir AB (MVIR) with an Outperform rating, as TMC435 (Protease Inhibitor, PhII/III, ...

We reiterate our Outperform rating on Biogen Idec (BIIB) with a TP of $108 (WACC 8%) in light of recent news flow that ... read our report released on 24th June, 2011 on BIIB titled “Oral MS Landscape/ Additive news flow – Getting Better for BIIB”.

... from the ARISTOTLE trial, Eliquis met both, the primary (reduction in stroke and embolism) and secondary endpoint (reduction in major bleeding and ... stock price reaction is a bit premature, as detailed data is crucial to understand Eliquis relative efficacy/safety compared to Pradaxa and Xarelto. From a trial ...

... ) or colchicine primarily on safety concerns. Based on our analysis, we reiterate our Outperform rating on Regeneron (REGN) with a revised TP of $62 (vs. previous $65) as we believe both these drugs ... read our report released on 23rd June, 2011 on REGN named “Is Trap Safer? Rilonacept vs. NVS’ Ilaris in Gout”.

... our Outperform rating on Sun Pharma after it received final ANDA approval for Sumatriptan Succinate autoinjector 6 mg (base) / 0.5 ml equivalent to GSK’s Imitrex Statdose system ...

... diabetes class. Our discussion with key opinion leaders (KOLs) suggests that the recently issued warning by the USFDA (increased risk of bladder cancer ... on long term use of actos) would lead to restricted use of Actos. The use of Actos ... be much of a concern for Takeda. Actos sales in EU is just ...

We have been covering ANTH since Oct. 2010 with a TP of $9 (CMP: $8.47, revised TP: $12). Based on the recent discussion with ANTH’s management (more clarity on its lead drugs – Varespladib, ACS and Blisibimod, Lupus, its market sizing, and financials), we reaffirm our view that there is room for further ...

FDA has granted approval to belatacept (Nulojix) as prophylaxis of organ rejection use in EBV seropositive adult kidney transplant ... peak sales potential of $700m. Our discussion with KOL suggests Belatacept to be used as rescue therapy in patients facing CNI based nephrotoxicity ...

Vertex (VRTX) strategy to tap the larger Cystic Fibrosis market of ΔF508 mutation by combination of a potentiator (VX-770) and corrector (VX-809) of the underlying genetic defect in CF pts did not yield data (reduction in sweat chloride of -9.10 mmol/L (p

Our recent study about the Cardizem CD Para IV litigation between Sun Pharma and Valeant ( ... 2012 (2) there is currently no competition for 360mg Cardizem CD and Sun Pharma will be the only generic ... Sun will be able to launch the generic of Cardizem CD upon receiving final USFDA approval including the launch ...

... on sideline, as there is no catalyst in 2011-12 that could boost the stock. Intercell (ICLL) woes of 2010 became worse in 2011 chiefly due to the ...

... the detailed data from phase III pivotal studies on RG7204 and ipilimumab respectively. With the overall survival data on ... comparable, physician is likely to weigh ipilimumab’s superior durability of response compared to RG7204 (19.3m vs 6.7m) on one side with its inferior toxicity profile (56% vs 10% ≤ Grade ...

... ) in the Biotech sector. The table lists the drug related catalysts for the Rising Star or Mature Biotech companies, our expectations ... of the series, which we will keep releasing in a timely manner. The catalysts include outcome of Advisory Committee Meetings (only June), PDUFA dates ...

Clinical data from the SAVE-ONCO study on semuloparin is positive, but the commercial potential depends on its relative benefits ...

The attached report is a comprehensive study of Aurobindo’s, Natco’s & Woclhardts Para IV pipeline and likely upside from each of the opportunities. The report is a part of our recently introduced web based application – PARA IV Plus™.

Dr Reddys has pipeline of ~20 Para IVs having branded sales of ~$24b. Among its Para IV pipeline the confirmed opportunities (branded sales ~$11.2b) are Exelon, Propecia, Zyprexa (20 mg), ... Nexium, Lipitor and Geodon. We expect PAT of ~$185m from the Dr. Reddy’s Para IVs which is ~3% of the current market Cap.

Lupin has pipeline of ~34 products having branded sales of ~$16b. Among its Para IV pipeline most lucrative opportunities are very few like that of Geodon, ... and Asacol. On other hand there are some Para IVs ...

A macro study on Indian Pharma Para IV litigations – a part of our recently introduced web based application - PARA IV Plus™ . This will provide you with a broad but meaningful insight to the prevalence of Indian Pharmaceutical companies in the Para IV space