Traders in Warner Chilcott WCRX may be considering an earlier concerning note from Morgan Stanley following news of FDA approval for DELZICOL.
After trading to an intraday high at $14.87, shares of Warner Chilcott last traded around $14.27, up about 1.4 percent from Monday's close.
Morgan Stanley analysts said, "After perusing Delzicol(new Asacol)'s label, we
believe that it may not qualify for any marketing
exclusivity, implying that WCRX's time to effect
conversion from Asacol may be very limited." The firm believes the major difference between the labels "is
that Asacol tablets contain dibutyl phthalate as an
inactive ingredient while Delzicol capsules contain
dibutyl sebacate."
Morgan Stanley maintains an Underweight rating on shares of Warner Chilcott.
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