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 The leading web portal for pharmacy resources, news, education and careers November 20, 2017
Pharmacy Choice - Pharmaceutical News - NetworkNewsBreaks Aegis Capital Reiterates Buy Rating, $8 PT on Intellipharmaceutics International, Inc. (NASDAQ: IPCI) - November 20, 2017

Pharmacy News Article

 2/14/17 - NetworkNewsBreaks Aegis Capital Reiterates Buy Rating, $8 PT on Intellipharmaceutics International, Inc. (NASDAQ: IPCI)

Aegis Capital has reiterated its Buy rating and $8 price target for Intellipharmaceutics International (NASDAQ: IPCI), citing expectations that the company will continue to make progress in 2017. In an earnings release last week, Intellipharmaceutics recapped its achievements in 2016, which included a license and commercial supply agreement with Mallinckrodt LLC to market, sell and distribute several of the company's extended release drug product candidates (generic Seroquel XR, generic Pristiq, generic Lamictal XR?). Intellipharmaceutics also secured tentative approval for generic Seroquel XR with official launch planned for first half of 2017. Revenues for full-year 2016 were $2.2 million vs. $4.1 million for the comparable 12 months of 2015. I am confident that 2017 will be a transformative year for Intellipharmaceutics as we expect a significant increase in revenues due to the additional generic Focalin XR strengths, the anticipated revenues from the launch of generic Seroquel XR on expiry of the first filers exclusivity period and continued progress in our Rexista? NDA candidate, Dr. Isa Odidi, chairman and CEO, stated in the news release. Intellipharmaceutics said it expects to satisfy its operating cash requirements until June 2017 from cash on hand and improve revenues in the second quarter of 2017 with the launch of its tentatively approved generic Seroquel XR. Following the earnings announcement, Aegis analysts Difei Yang, Ph.D., in an analyst note, said, Intellipharmaceutics started off 2017 announcing that its marketing partner Par Pharmaceutical launched generic Focalin XR in the US at 25 mg and 35 mg strengths. In consideration with the 180 day marketing exclusivity, we believe this will have a positive impact on 2017 revenue to the tune of about $3 million in revenue and gain of $0.10 in EPS.

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About Intellipharmaceutics

Intellipharmaceutics International Inc. is a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs. The Company's patented Hypermatrix? technology is a multidimensional controlled-release drug delivery platform that can be applied to the efficient development of a wide range of existing and new pharmaceuticals. Based on this technology platform, Intellipharmaceutics has developed several drug delivery systems and a pipeline of products (some of which have received FDA approval) and product candidates in various stages of development, including ANDAs filed with the FDA (and one Abbreviated New Drug Submission filed with Health Canada) in therapeutic areas that include neurology, cardiovascular, gastrointestinal tract, diabetes and pain.

About NetworkNewsBreak

NetworkNewsBreak (NNB) provides a rapid summary of corporate news that caught the attention ofNetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW's broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today's market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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