Labopharm (DDS)Tramadol...Approval..CanaccordLabopharm "buy"
Tuesday, January 18, 2005 4:03:41 AM ET
Canaccord Capital
NEW YORK, January 18 (newratings.com) - Analysts at Canaccord Capital reiterate their "buy" rating on Labopharm Inc (DDS.TOR). The target price is set to C$5.50.
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In a research note published yesterday, the analysts mention that the company's once-a-day tramadol drug for the treatment of moderate to severe pain has been approved by the French authorities. Labopharm, in partnership with Sanofi-Aventis, intends to launch the drug in the fast-growing European market in 4Q05, the analysts say. The company is to initiate the Mutual Recognition Procedure (MRP) in order to streamline regulatory approval in other European Union countries, Canaccord Capital adds.