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: Icebrg	9/2/2005 12:37:27 PM
	of 1826

MGI Pharma's Dacogen Likely To Be Approved In Q1 2006 David Ng, 09.02.05, 12:12 PM ET Prudential Equity Group reiterated an "overweight" rating on MGI Pharma (nasdaq: MOGN - news - people ), saying the company's bone-marrow cancer treatment, Dacogen, is likely to soon be approved by the FDA. The research firm said it strongly encourages investors to accumulate shares of MGI Pharma in anticipation of the final FDA decision. Dacogen is being jointly developed by MGI Pharma and SuperGen (nasdaq: SUPG - news - people ). Prudential said the companies still have to provide additional patient information to the FDA in regard to one clinical benefit of the drug. "The worst-case scenario would be that the drug could be approved in the second quarter of 2006," Prudential said. "We now think the approval is most likely to come during the first quarter of 2006." The research firm slightly lowered the target price on MGI Pharma to $36 from $37. forbes.com For comments from Merrill Lynch: Message 21665162

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