MGI Pharma MOGN New patents, anti cancer Message Board

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Biotech / Medical : MGI Pharma MOGN New patents, anti cancer

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From: sim1	10/10/2007 3:16:57 PM
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JPMorgan on MOGN: Analyst Says MGI Pharma Will Rise As Aloxi and Dacogen Sales Grow and Aquavan Hits Market October 10, 2007: 08:51 AM EST NEW YORK (Associated Press) - A JPMorgan analyst upgraded shares of MGI Pharma Inc. Wednesday, saying the stock could rise for the next two years due to sales of two drugs and one key drug candidate. Geoffrey Meacham said the stock is trading at a discount despite a strong run, as MGI's earnings per share should grow by about 50 percent per year through 2010. Revenue should grow more than 30 percent each year, he said, putting MGI on track to reach its goal of 35 percent sales growth for five years. MGI shares have climbed 67 percent this year, and reached a three-year high of $31.06 Tuesday before closing at $30.74. Meacham upgraded the stock to "Overweight" from "Neutral." He thinks sales of MGI's nausea drug Aloxi and bone marrow disease treatment Dacogen will improve over the next few years, and expects the company's sedative Aquavan will be popular due to its effectiveness. The analyst expects Aquavan will get Food and Drug Administration approval in July 2008.

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