Cowen Suggests Truth to Allergan Rumors

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Allergan Inc.

(NYSE: AGN) as account analyst suggests truth to yesterday's rumor.Cowen analyst Ken Cacciatore cited legal consultants in his note while reporting that the Allergan patent may be issued as early as 4-5 weeks. Cacciatore noted that the patent is being added to the Food and Drug Administration's Orange Book, regardless of the strength of claims. Analysts could confidently model that Allergan would be protected for 30-40 months if no generic applicant is found.Cowen commented that adding restasis to the model would add at least $0.50 and $1.00 to the adjusted EPS estimate in 2014 and 2015, respectively. The average adjusted EPS estimate is reported to be $5.46 in 2014 according to Bloomberg and $5.96 in 2015.Shares of Allergan gained 2.6% yesterday and have traded as high as 5.89% on Friday.