Impax Launches Opana ER Generic - Analyst Blog
January 07 2013 - 9:52AM
Zacks
Global Pharmaceuticals, the generic division of Impax
Laboratories, Inc. (IPXL), a specialty pharmaceutical
company, recently started shipping its generic version of
Endo Health Solutions’ (ENDP) Opana ER
(oxymorphone hydrochloride).
Opana ER is approved for relief from moderate to severe acute
pain in patients who are in need of continuous, opioid treatment
for an extended time period.
Back in June 2010, Impax entered into a settlement agreement
with Endo regarding its generic version of Opana ER. As per the
terms of the deal, Endo granted Impax the license to sell generic
version of Opana ER from January 1, 2013.
We note that apart from Impax, the patent on Opana ER has been
challenged by many companies, namely Sandoz, the generic division
of Novartis (NVS), Teva
Pharmaceuticals (TEVA), Watson Pharma
(WPI), Actavis, Roxane Laboratories and Ranbaxy. The company has
settled all disputes apart from the one associated with Ranbaxy,
which Endo has decided not to challenge. Consequently, Ranbaxy can
sell the generic versions of Opana ER from September 9, 2013.
Per the settlements with all other challengers, they have agreed
not to challenge patents relating to Opana ER. Actavis launched the
generic version of non-tamper resistant formulation of Opana ER
(7.5 and 15 mg dosages) on July 15, 2011. Sandoz, Teva, Watson,
Roxane and Actavis can sell all doses of the generic version of
non-tamper resistant Opana ER from July 1, 2013. Ranbaxy is
expected to launch its generic version on September 9, 2013.
Recommendation
We currently have a Neutral recommendation on Impax. The stock
carries a Zacks #3 Rank (Hold) in short run.
Currently, pharma stocks which look more attractive are
Valeant Pharmaceuticals International, Inc. (VRX)
and Ironwood Pharmaceuticals, Inc. (IRWD). Both
carry a Zacks #1 Rank (Strong Buy).
ENDO PHARMACEUT (ENDP): Free Stock Analysis Report
IMPAX LABORATRS (IPXL): Free Stock Analysis Report
IRONWOOD PHARMA (IRWD): Free Stock Analysis Report
NOVARTIS AG-ADR (NVS): Free Stock Analysis Report
TEVA PHARM ADR (TEVA): Free Stock Analysis Report
VALEANT PHARMA (VRX): Free Stock Analysis Report
WATSON PHARMA (WPI): Free Stock Analysis Report
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