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Ligand Pharmaceuticals Incorporated Message Board

  • le54roid le54roid Jan 4, 2013 8:45 AM Flag

    Too funny. We get an upgrade from Brean Murray

    and a downgrade from Cantor. I guess it's a punt for today

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    • Brean Murray initiated coverage with a "Buy". Anybody know what their PT is?

    • Unfortunately it looks like CF is the one in the press. Here is what they say:

      The firm comments, "After attending a Hepatitis C lecture and speaking with physicians at the New York Society for Gastrointestinal Endoscopy on December 19 we are lowering our estimates on Promacta in the Hepatitis C (HCV) indication from $337M to $67.5M in 2017. Our reasons are as follows: (1) Physician awareness of Promacta in HCV is minimal a month after its approval and reimbursement is believed to be non-existent; (2) doctors indicated that low platelet levels are not a key reason for keeping very sick HCV patients off interferon treatments; (3) presenters indicated that effective non-interferon treatments are expected to be introduced in the next 2-3 years (which does not allow time for significant Promacta ramp, in our view); and (4) weekly prescription trends are not showing any significant pick-up since approval."

      There is probably some truth in what they're saying but hopefully GSK is working on the awareness issue. Obviously everyone already knows about the non-interferon treatments. Also, the drug is used so much off label that I think it's very difficult to predict 2017 revenues. I will be reloading today if we dip below $20

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