Jefferies lowers its price target from $37 to $33 on Buy-rated ViroPharma VPHM as FDA approves generic version of Vancocin.
Jefferies says, "The FDA approved three generic versions of Vancocin and responded to VPHM's citizen petition, detailing their denial of 3-year exclusivity for Vancocin. We would be buyers on today's overreaction, as Cinryze is the critical driver of the VPHM story."
VPHM closed at $28.61 on Tuesday.
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