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Biotech / Medical : Indevus Pharmaceuticals (NasdaqNM:IDEV)

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From: idos8/6/2007 3:49:07 PM
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CIBC-
Sanctura XR Gift-Wrapped With Best-in-Class
Profile; Can Esprit Now Deliver?

Who says FDA never acts early, as IDEV makes good on its promise to deliver full approval for key near-term driver Sanctura XR. Two surprises around the announcement: FDA granted the approval a week early and for the short term, the market could seem to care less.
Expectations were clearly geared toward approval, though admittedly with the letter in hand we can at least breathe a sigh of relief, as now both the clinical and regulatory risks on Sanctura XR are out of the way. What still hovers over the story of course is another big obstacle, commercial risk.
Indevus Sanctura XR partner hasn't exactly lit the world on fire with efforts on Sanctura nor have its troubled marriages to other pharma product developers brought it much credibility with Wall Street. The saving grace, though, is that Sanctura XR's profile can stand up to any of its competitors.
We are optimistic Esprit will not kill the golden goose and will capitalize on Sanctura XR opportunity. Esprit has done a respectable job marketing Sanctura in the urology space, though lack of more commercial punch in primary care will remain an overhang pending some form of co-promote.
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