Allergan has 'sleeper hit' with Ozurdex, says BMO Capital BMO Capital believes Allergan's biodegradable intravitreal implant for the treatment of diabetic macular edema, Ozurdex, will be approved in mid-2014 and be a "sleeper hit" for the company. BMO thinks Ozurdex, which is currently approved for macular edema related to retinal vein occlusion, can be a $200M-$300M product by 2020 in the U.S. alone. The firm raised its price target for Allergan shares to $117 from $112 and keeps an Outperform rating on the stock.
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