Warner Chilcott is JP Morgan's Top Pick Within Specialty Pharmaceuticals (WCRX)

Warner Chilcott

will likely be added to the Russell 1000 on Friday, June 11 and should serve as an NT catalyst for the shares. An inclusion in the S&P 500 later this year is also possible. JP Morgan analysts Chris Schott, Dewey Steadman, and Jessica Fye rate WCRX Overweight. The price target is $35.00. WCRX is currently trading at $35.00. The patent on WCRX's Actonel is running out on June 2014, but Jefferies believes that this is enough time for Warner Chilcott to convert patients to the new Actonel DR. The analysts added, "As data exclusivity starts ticking for DR on approval, a modest Actonel DR push out should allow Warner Chilcott to better manage the potential life for both products. We continue to model an early 2011 launch for Actonel DR and a strong switch to the new product in its first years on the market."