) announced that it has gained approval from the US Food and Drug
Administration (FDA) pertaining to its New Drug Application (NDA)
for testosterone gel 1%. We note that the New Drug Application
filed by the company with the US regulatory body included a
bioequivalence study comparing testosterone gel 1% with
) AndroGel 1%.
ABBVIE INC (ABBV): Free Stock Analysis Report
ABBOTT LABS (ABT): Free Stock Analysis Report
PERRIGO COMPANY (PRGO): Free Stock Analysis
SANOFI-AVENTIS (SNY): Free Stock Analysis
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We note that AndroGel 1% (testosterone gel 1%) is marketed for
treating males (above 18 years of age) with low or no
testosterone in their body. The annual sales of this product were
approximately $705 million, according to data released by
AbbVie came into existence earlier this year following its
). AbbVie recently provided its guidance for 2013. The company
expects to earn $3.03-$3.13 per share in 2013 on total revenues
of more than $18 billion. Currency movement is expected to
negatively impact revenues by about 1%.
We remind investors that recently Perrigo - developer,
manufacturer and distributor of over-the-counter (OTC) and
generic prescription pharmaceuticals among others - reported
lower-than-expected revenues, but higher-than-expected earnings
in its second quarter 2013 (ended Dec 29, 2012).
Apart from announcing its financial results, Perrigo inked a deal
to buy animal health company Velcera, Inc. for $160 million in
cash. The deal is expected to close in calendar year 2013.
Perrigo intends to strengthen its position in the OTC retail pet
healthcare market through the impending acquisition.
Perrigo currently carries a Zacks Rank #3 (Hold) in the
short-run. We have a similar stance on AbbVie, a large-cap pharma
stock. However, another large-cap pharma stock
) currently appears to be more favorably placed . The company
carries a Zacks Rank #1 (Strong Buy).