Expert Financial Analysis and Reporting

You cannot turn on the business news channels without hearing extensive comments and condemnation by pundits and politicians about Mylan’s aggressive price hikes on EpiPen. Investors are asking if this could somehow expedite approval of Antares/Teva’s AB rated generic to EpiPen. As far as I know, Teva has not yet submitted a response to the Complete […]

A number of people have asked me if I know of any specific reason for the strength in Antares’s stock following the 2Q, 2016 conference call. The stock reached an inter-day high today of $1.34 today which is a high for the year. For much of the year to date, it has been trading around […]

Teva announced today the launch of its AB rated generic to Imitex (sumatriptan). Remember that Antares books revenues from Teva with a one quarter lag so there should be no revenues reflected from the launch in the 2Q, 2016 report from Antares. Teva will include this product in its bundling agreements for generics with pharmacies […]

Report Overview Antares and AMAG Pharmaceuticals are jointly developing a new subcutaneous formulation of AMAG’s key drug Makena which is currently administered as a deep and painful intra-muscular injection. I recently did a detailed report on the medical profile of Makena and concluded that most (all) of Makena’s sales- estimated at $310 to $340 million […]

Overview I listened to CEO Bob Apple speak at the Deutsche Bank conference and wanted to pass along a few pieces of information that are incremental to my recent report. Antares: An Outstanding Product Pipeline Promises Dramatic Growth Through 2022 AB EpiPen In regard to AB EpiPen, he said that they are working with Teva […]

I recently wrote a report on Antares entitled Makena has the Potential to Make a Very Significant Contribution to EPS  that highlighted the potentially  significant impact on Antares’ earnings of the subcutaneous formulation of Makena being developed jointly by Antares and AMAG Pharmaceuticals. In a press release summarizing 1Q, 2016 results, AMAG issued some very positive […]

Investment Thesis in Brief If you like numbers, you will like this report. It is a very detailed analysis of the contribution to Antares sales and profits of 7 new products that will drive growth in coming years. As summarized in the following table, I am looking for Antares to roughly breakeven in 2017 and […]

Investment Thesis Investment Overview The launch of Otrexup has been extremely disappointing in contrast to my high expectations. Medac launched a competitive product Rasuvo shortly after Otrexup. It was my expectation that Medac would focus on educating physicians and expanding the market to the benefit of both products. In my experience, this has been the […]

Investment Perspective Teva filed a 6-K regulatory document last night that stated: “Teva received a complete response letter on February 23, 2016 relating to its epinephrine ANDA in which the FDA identified certain major deficiencies. Teva is evaluating the CRL and intends to submit a response. Due to the major nature of the CRL, Teva expects that […]

Upcoming Catalysts This is a detailed note updating my thinking on Antares and discussing how I come up with my 2017 price target range of $3.25 to $10.00; the latter is based on Antares being acquired (probably by Teva). Additionally, I wanted to make you aware of three catalysts that could bolster investors’ confidence. There […]