Hospira, Inc. Taxotere Ruling A Positive For Shareholders
Delaware District Court ruling on the Taxotere patents is seen as a meaningful positive for Hospira, Inc. (NYSE: HSP) according to a J.P. Morgan research report.
J.P.Morgan writes, "While we anticipate temporary restraining order/preliminary injunction requests from Sanofi, we believe this ruling could pave the way for Hospira's generic entry in November 2010. Along these lines, we are raising 2011-2013 estimates for the company to account for generic Taxotere ($1.25 bn LTM IMS branded sales) and reiterate our OW rating."
Price Target for HSP is being raised from $62.00 to a $66.00 a share.
HSP shares closed Monday at $57.10.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.