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: John McCarthy	12/5/2005 7:18:53 PM
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MGI Pharma (nasdaq: MOGN - news - people ) fell 8.7% for the week after monthly sales data for cancer pain treatment Aloxi came in weaker than expected. Aloxi generated October sales of $13.9 million, according to IMS Health (nyse: RX - news - people ) estimates released last Tuesday. Prudential Equity Group maintained an "overweight" rating on the stock, however, saying MGI Pharma will likely reach 2005 sales goals. "We feel that the number is weak and casts doubt on MGI's ability to meet its 2005 full-year Aloxi sales guidance of $250 million to $260 million," wrote analyst Jason Zhang, in a client note. "After talking with management, however, their confidence leads us to believe that MGI can indeed meet their guidance as management is not only aware of October's Aloxi sales number, but November's as well." Aloxi is a nausea treatment for patients undergoing chemotherapy and is MGI Pharma's lead product. forbes.com

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