Protalix BioTherapeutics, Inc.
) recently confirmed that it has hired
) to explore strategic options. Protalix, an Israel-based
biopharmaceutical company, confirmed that Citigroup will help it
review multiple product partnering, technology sharing and other
strategic alternatives. The news had a positive effect on the
The confirmation came in the wake of multiple inquiries in
addition to a related report appearing in the Israeli press.
However, Protalix issued no assurance that it will undertake any
such strategic alternative. The company declined to throw anymore
light on the event at this moment.
We note that the company focuses on the developing and
commercializing recombinant therapeutic proteins expressed
through ProCellEx - its proprietary plant cell based expression
In May 2012, it gained US approval for taliglucerase alfa for
injection, as an enzyme replacement therapy for the long-term
treatment of adults suffering from type 1 Gaucher disease. Pharma
) is responsible for marketing Taliglucerase alfa in the US under
the brand name Elelyso.
We further note that Protalix has granted Pfizer an exclusive,
worldwide license to develop and commercialize the drug. However,
Protalix has retained such rights, pertaining to the drug, in
We believe that the association with a big player like Pfizer
is a major positive for the company. Protalix /Pfizer are looking
to get the drug approved in other markets as well.
Protalix currently carries a Zacks Rank #3 (Hold).
Peregrine Pharmaceuticals, Inc.
) is an example of a biopharma stock that is more favorably
placed. It carries a Zacks Rank #1 (Strong Buy).
CITIGROUP INC (C): Free Stock Analysis Report
PFIZER INC (PFE): Free Stock Analysis Report
PROTALIX BIOTHR (PLX): Free Stock Analysis
PEREGRINE PHARM (PPHM): Free Stock Analysis
To read this article on Zacks.com click here.