Macquarie 04-Feb-14 The US FDA is investigating the safety of...

Macquarie 04-Feb-14
The US FDA is investigating the safety of TRT (testosterone replacement therapy), following studies suggesting a cardiovascular risk. Macquarie notes the discretionary nature of TRT means the impact, if the FDA concludes there's a risk, could be meaningful.

Adding other headwinds to the stock's valuation such as price declines, the tailing of rebates and the generic gels entering the market means Macquarie finds the stock expensive. The Underperform rating is retained and the price target is reduced to $1.80 from $2.24.

Underperform

Thats it - i'm out!!