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Allergan (AGN) Pipeline & New Drugs to Counter Generic Woes
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We issued an updated research report on Allergan plc on Sep 26.
Allergan boasts dominant growth franchises in several areas and is strengthening its product portfolio through strategic acquisitions. In 2017 so far, through the accretive acquisitions of LifeCell and ZELTIQ, Allergan has expanded its medical aesthetics business into regenerative medicine and body sculpting, respectively.
Allergan sold its generics business in Aug 2016 and the Anda distribution business to Teva Pharmaceuticals (TEVA - Free Report) in Oct 2016. Following the closure of the Teva deal, Allergan can now focus on the branded segment and is using the proceeds to buy back shares, pay down debt and pursue additional deals.
Key products like Botox and Linzess and new products such as Viberzi and Vraylar are supporting sales growth at Allergan. In fact, at the second quarter conference call, Allergan raised its previously issued earnings and sales guidance for 2017, following a strong first-half performance and solid outlook for the rest of the year.
Allergan also boasts a strong branded pipeline with meaningful data read-outs in the next few months. The company has more than 65 projects in mid-to-late stage development including six key phase III programs. This year, Allergan is extending its R&D pipeline to adjacent categories like NASH, Parkinson's disease, and gene therapy with many promising phase II/III programs in development. Allergan has nine product launches planned for 2017.
Biosimilars also represent significant opportunity. Allergan and Amgen, Inc. (AMGN - Free Report) have a collaboration agreement for the worldwide development and commercialization of biosimilar versions of Roche’s (RHHBY - Free Report) cancer drugs, Avastin, Herceptin and Rituxan. The biosimilar version of Avastin, to be marketed by the trade name of Mvasi, received FDA approval this month, making it the first cancer biosimilar to get FDA nod.
However, while we remain optimistic about the company’s growth prospects, it is facing generic competition for legacy brands like Namenda and Asacol HD as well as patent challenges for some of the other products in its branded portfolio.
Meanwhile, new competition for key growth drivers, Restasis and Linzess, is an investor concern. Shire’s dry eye disease drug Xiidra, launched last year, poses strong competition for Restasis. Meanwhile, Synergy’s Trulance (plecanatide) was launched in the second quarter for CIC, which could pose competition to Linzess.
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With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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Allergan (AGN) Pipeline & New Drugs to Counter Generic Woes
We issued an updated research report on Allergan plc on Sep 26.
Allergan boasts dominant growth franchises in several areas and is strengthening its product portfolio through strategic acquisitions. In 2017 so far, through the accretive acquisitions of LifeCell and ZELTIQ, Allergan has expanded its medical aesthetics business into regenerative medicine and body sculpting, respectively.
Allergan sold its generics business in Aug 2016 and the Anda distribution business to Teva Pharmaceuticals (TEVA - Free Report) in Oct 2016. Following the closure of the Teva deal, Allergan can now focus on the branded segment and is using the proceeds to buy back shares, pay down debt and pursue additional deals.
Key products like Botox and Linzess and new products such as Viberzi and Vraylar are supporting sales growth at Allergan. In fact, at the second quarter conference call, Allergan raised its previously issued earnings and sales guidance for 2017, following a strong first-half performance and solid outlook for the rest of the year.
Allergan also boasts a strong branded pipeline with meaningful data read-outs in the next few months. The company has more than 65 projects in mid-to-late stage development including six key phase III programs. This year, Allergan is extending its R&D pipeline to adjacent categories like NASH, Parkinson's disease, and gene therapy with many promising phase II/III programs in development. Allergan has nine product launches planned for 2017.
Biosimilars also represent significant opportunity. Allergan and Amgen, Inc. (AMGN - Free Report) have a collaboration agreement for the worldwide development and commercialization of biosimilar versions of Roche’s (RHHBY - Free Report) cancer drugs, Avastin, Herceptin and Rituxan. The biosimilar version of Avastin, to be marketed by the trade name of Mvasi, received FDA approval this month, making it the first cancer biosimilar to get FDA nod.
However, while we remain optimistic about the company’s growth prospects, it is facing generic competition for legacy brands like Namenda and Asacol HD as well as patent challenges for some of the other products in its branded portfolio.
Meanwhile, new competition for key growth drivers, Restasis and Linzess, is an investor concern. Shire’s dry eye disease drug Xiidra, launched last year, poses strong competition for Restasis. Meanwhile, Synergy’s Trulance (plecanatide) was launched in the second quarter for CIC, which could pose competition to Linzess.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>