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Belbuca Revenue 'Immaterial,' Says JMP On Rx's Return To BioDelivery From Endo International

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Belbuca Revenue 'Immaterial,' Says JMP On Rx's Return To BioDelivery From Endo International

JMP Securities reiterated its Market Outperform rating and $34 price target on Endo International plc - Ordinary Shares (NASDAQ: ENDP), saying the company’s return of Belbuca to BioDelivery Sciences International, Inc. (NASDAQ: BDSI) won’t have much impact on Endo.

“Belbuca represented an immaterial revenue contribution to our 2017 forecasts,” JMP analysts wrote in a note.

The analysts highlighted that Belbuca’s launch has progressed more slowly than expected due to its limited PBM coverage given premium pricing versus generic opioids.

Endo will incur $62 million of restructuring charges, but expects $90 million–$100 million in annual cost savings in 2017. The company plans to redeploy the savings to core franchises, including Xiaflex.

At last check, shares of Endo had risen 1.60 percent to $15.90. BioDelivery shares were up 6.88 percent at $1.71.

Latest Ratings for BDSI

DateFirmActionFromTo
Mar 2019Initiates Coverage OnBuy
Jan 2019AssumesBuy
May 2018MaintainsBuyBuy

View More Analyst Ratings for BDSI
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