Novartis Ag-sponsored Adr (NVS) Financial News - Report Fuels Titan Pharmaceuticals Take Over Speculation
Novartis Ag-sponsored Adr (NVS)
Report Fuels Titan Pharmaceuticals Take Over Speculation
2011-07-22 06:27:24Quote: A Wednesday morning report by Bloomberg fits right into growingspeculation that Titan Pharmaceuticals (TTNP.OB) will eventually bepurchased or partnered before Probuphine reaches market.Titan just recently announced positive Phase III confirmatory results for Probuphine, shortly after resolving issues with the FDA that might have delayed the unblinding of results. In the Bloomberg report, analysts at UniCredit SpA were cited asspeculating that Reckitt Benckiser Group Plc (RBGPF.PK) may sell off itspharmaceutical division next year.Reckitt Benckiser, maker of Nurofenpainkillers and other products, lost exclusive rights to Suboxone in theUnited States a couple of years ago, and is set to face stiff genericcompetition - including competition from Probuphine. Probuphine looks to make quick inroads into the treatment of opioidaddiction, given the benefits provided by the subcutaneous implant thatis the basis of the ProNeura drug-delivery system, and the Bloombergreport speculates that Reckitt Benckiser may look to make a move onTitan to maintain its presence in the opioid addiction market. With a market cap of barely over a hundred million dollars and a share price of still under twobucks, Titan should still look like an attractive buyout candidate topotential suitors, and could be had for chump change, compared to whatReckitt Benckiser might pull in from a sale of its pharmaceuticaldivision. Titan also has Probuphine for the treatment of chronic pain in thepipeline and is still raking in quarterly revenue from sales of Vanda's(VNDA) Fanapt, which has been gaining market penetration with the helpof deep-pocketed commercial partner Novartis (NVS). ProNeura has additional potential applications of its own, as manycommong drugs start coming off-label over the next few years.Any potential suitor would most likely have more in mind than just bringing Probuphine to market. The Bloomberg report doesn't confirm anything, just...
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