Zacks Analyst Blog Highlights: Cypress Bioscience, Inc., Forest Laboratories, Inc., Allied Irish Banks, p.l.c., Baxter International and Pfizer.

For Immediate Release

Chicago, IL – May 14, 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: Cypress Bioscience, Inc. (CYPB - Analyst Report), Forest Laboratories, Inc. (FRX - Analyst Report), Allied Irish Banks, p.l.c. (AIB - Analyst Report), Baxter International (BAX - Analyst Report) and Pfizer (PFE - Analyst Report).

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Here are highlights from Wednesday’s Analyst Blog:

Cypress Bio Banks on Savella

Cypress Bioscience, Inc. (CYPB - Analyst Report) reported financial results for the first quarter 2009 on May 11, 2009. Total revenues for the quarter were $7.9 million, and consisted primarily of collaborative payments from Savella development partner, Forest Laboratories, Inc. (FRX - Analyst Report). This was generally in-line with our $8.2 million forecast.

Net loss for the quarter was $9.2 million -- and significantly greater than our expectations -- due to approximately $5.0 million in R&D expense associated with a $3.0 million milestone payment to a licensor, Pierre Fabre, upon NDA approval of Savella and a $2.0 million payment in connection with an asset purchase transaction for a technology to diagnose and monitor Lupus. Earnings per share (EPS) for the first quarter equated to ($0.24). Cypress Bio exited the first quarter with $160.4 million in cash.

Allied Irish Banks Improves

In its first quarter trading update, Allied Irish Banks, p.l.c. (AIB - Analyst Report) announced that operating profits before bad debt provisions were higher than the year-ago quarter, reflecting strong performance of its Capital Markets and Global Treasury divisions.

However, AIB's other operating divisions are experiencing year-over-year declines in operating profits as loan demand continues weak, current account and deposit funding contract, and net interest margins shrink. The decline in the net interest margin principally reflects highly competitive markets, the low interest-rate environment, and higher wholesale funding costs, partly offset by better margins on lending.

Baxter: More Heparin Problems

Not long after reporting a decent first quarter, Baxter International (BAX - Analyst Report) has made headlines once again for its heparin product.

A renewed heparin-related scare began over the weekend, with two deaths announced and a third patient suffered complications. The common link between all three patients is the administration of heparin. Initial reports indicate that the pharmaceutical ingredients were sourced in North America, likely from Pfizer (PFE - Analyst Report). The contaminant from the Chinese factory during the 2008 scare (over-sulfated chondroitin sulfate) was not found in the recently tested samples.

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