Macquarie 11-Mar-14
US testosterone sales fell 15% last week and 11% on a rolling monthly average, the broker notes. While Axiron is quietly gaining market share it is doing so in a market of declining volumes and prices, subject to FDA review, and in the knowledge a new product is likely to enter the race this year.
The broker retains Underperform on Acrux. Target falls to $1.62 from $1.75.
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