) recently received encouraging news when the US Food and Drug
Administration's (FDA) General and Plastic Surgery Devices Panel
of the Medical Devices Advisory Committee unanimously recommended
the approval of Juvéderm Voluma XC.
ABBVIE INC (ABBV): Free Stock Analysis Report
ALLERGAN INC (AGN): Free Stock Analysis
ISIS PHARMACEUT (ISIS): Free Stock Analysis
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The company is looking to get Juvéderm Voluma XC, its injectable
hyaluronic acid dermal filler, approved for cheek augmentation to
correct age-related volume deficit in the mid-face.
Although the FDA is not bound to accept the recommendation of the
advisory panel it does pay heed when reviewing new drug
applications. The company noted that if approved Juvéderm Voluma
XC will be the first and only dermal filler in the US for the
above mentioned indication. The company expects to launch the
drug in late 2013.
A few days back Allergan reported first quarter 2013 earnings of
$0.98 per share, beating the Zacks Consensus Estimate of $0.96
per share. While earnings increased 18.1% from the year-ago
quarter, revenues increased 8.3% to $1,459.6 million, above the
Zacks Consensus Estimate of $1,443 million. Allergan now expects
2013 earnings of $4.70 - $4.76 per share as compared to the
previous guidance of $4.75 - $4.83 per share. The latest guidance
includes the impact of the acquisition of MAP Pharmaceutical.
Allergan currently carries a Zacks Rank #3 (Hold). Stocks that
look better positioned at present include
Onyx Pharmaceuticals, Inc.
). Both the stocks carry a Zacks Rank #2 (Buy).
Isis Pharmaceuticals, Inc.
) also looks well-positioned with a Zacks Rank #1 (Strong