Indevus Pharmaceuticals "strong buy"

04/12/07 - JMP Securities

NEW YORK, April 12 (newratings.com) - Analysts at JMP Securities reiterate their "strong buy" rating on Indevus Pharmaceuticals Inc (IDEV). The target price is set to $14.

In a research note published yesterday, the analysts mention that the FDA has recommended a new CNS side-effect warning on Johnson & Johnson’s Ditropan drug for overactive bladder. Among the drug class, Indevus Pharmaceuticals’ Sanctura drug has exhibited the lowest rate of CNS side effects, JMP Securities adds. Sanctura currently has 2%-3% share in the overactive bladder market, which is likely to expand with the potential launch of Sanctura XR drug in August, the analysts say.