Avanir sues Impax over planned Nuedexta generic, Bloomberg reports Avanir Pharmaceuticals (AVNR) is suing Impax Laboratories (IPXL) for allegedly infringing a new patent for the drug Nuedexta and planning to market a generic version of the drug before the patent expires in 2023, reported Bloomberg, citing a complaint filed in a federal court in Delaware. Reference Link
Impax downgraded to Sell from Neutral at UBS UBS downgraded Impax Laboratories to Sell saying the risk/reward is biased to the downside following the recent rally in shares. UBS attributes the recent run-up in shares to expectations the company will do more deals or get acquired. The firm does not see either scenario driving the stock much above current levels "any time soon." It keeps a $36 price target for Impax shares.
Impax price target raised to $58 from $49 at Piper Jaffray Piper Jaffray raised its price target for Impax Laboratories to $58 saying retail prescription data shows the company's generics business is "quietly performing well." Piper believes revenue from the generics segment could outperform its expectations for 2015 and also drive "significant"growth longer-term. It reiterates an Overweight rating on Impax.