CIBC World Keeps 'Strong Buy' on Andrx

Analyst Elliot Wilbur thinks the drug maker is the best new product story in his specialty pharmaceutical universe

CIBC World reiterates strong buy on Andrx (ADRX ).

Analyst Elliot Wilbur says AstraZeneca's news is positive for Andrx, as it removes a hurdle in Andrx's attempts to market a generic version of the ulcer and heartburn drug Prilosec. He notes AstraZeneca indicated that under a non-exclusive license pact with aaiPharma, it does not plan to list U.S. patents 6,262,085 & 6,262,086. Wilbur continues to believe Andrx is the best new product story in his specialty pharmaceutical universe. He has a $125 target, but notes price appreciation near-term remains captive to ongoing Prilosec developments.

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