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Biotech / Medical : MGI Pharma MOGN New patents, anti cancer -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (1669)	4/3/2006 1:50:35 PM
From: tuck	Respond to of 1826

While generic Zofran is a threat to Aloxi, the spray form being developed by Hana is another one. When's MOGN's oral Aloxi supposed to be developed? Isn't it somewhat behind Zensana? >>Hana's Potential Takeover Price Seen Near $20 Peter Kang, 03.30.06, 4:45 PM ET RBC Capital Markets initiated coverage on Hana Biosciences with an "outperform" rating and said the specialty pharmaceutical company could benefit from better-than-expected sales of its cancer-related pain drug Zensana. The company is expected to file for approval of the drug with federal health regulators in the second quarter of this year. Zensana is the spray form of leading anti-nausea drug Zofran, marketed by GlaxoSmithKline (nyse: GSK - news - people ). "We believe Zensana could be preferred over current oral anti-nausea drugs because it is more convenient to take and delivers more drug faster," said RBC analyst David Bouchey. The market for chemotherapy-induced nausea patients is estimated to be in excess of $1 billion, according to Bouchey, who predicts Hana will achieve peak Zensana sales of $150 million to $200 million. "If Zensana can reach $100 million in sales in 2009 as we predict, then we believe Hana shares could appreciate by about 50% to our 12-month target price of $15." In addition, to Zensana, Hana has five other pipeline candidates in various stages of development "which could provide positive news flow and upside potential to share price." The RBC analyst said the company's management has done well in meeting its own goals and has made a number of well-structured licensing deals that makes a potential acquisition a real possibility. "We believe having the only branded product in a rich market currently including multiple big pharma competitors could make Hana an attractive acquisition target to any competitor facing product life-cycle issues as well as any big pharma or big biotech with an oncology supportive care franchise," he said. "If Hana is acquired after Zensana approval, we would expect a take-out price near $20 per share." Bouchey forecasts FDA approval of Zensana by the early second quarter of 2007. The drug is expected to compete with similar anti-nausea treatments currently marketed by MGI Pharma (nasdaq: MOGN - news - people ), Roche and Sanofi-Aventis.<< From Forbes.com Cheers, Tuck