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Biotech / Medical : MGI Pharma MOGN New patents, anti cancer
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To: Icebrg who wrote (1738)1/25/2007 1:01:26 PM
From: tuck  Read Replies (1) of 1826
 
MOGN has been unexpectedly strong of late. At least three companies -- Hospira, Barr (Pliva), and Par -- launched generic Zofran on Decmber 26th, with Dr. Reddy's in the hunt but maybe hung up on litigation. So I'm wondering if MOGN's strength can be attributed to lower than expected sales of generic Zofran. I assume the big players are seeing the scrip numbers. Or perhaps, more directly, Aloxi scrips are holding up. Tom at one point included them in his weekly IDC reports he gets from Merrill & post on the Valuation thread, but they don't seem to be there anymore, darn it.

I wrote a fresh batch of calls against my slightly reduced position yesterday morning, only to see the strength continue through what looked like resistance around the $18 level. Doh! I still think hedging is the right thing to do in front of the uncertainty posed by the generic Zofran threat, and I'm thankful for the strength, and all, but where is it coming from?

Cheers, Tuck
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