Thursday, November 16, 2006

Calls of Note Part 4

- JP Morgan notes that on Thursday, Nov. 16, the Pediatric Advisory Committee will discuss the safety review of 16 drugs, including Celexa. Forest Labs (NYSE:FRX) shares could be weak on headline news that a Safety Evaluator from the Division of Drug Risk Evaluation has recommended that additional QT studies be performed on Celexa after 3 new adverse event cases of QT prolongation were found associated with the drug, but in firm's view, not clearly linked. Also, in May the FDA requested the inclusion of additional language in the label regarding QT prolongation.

The 16 drugs to be discussed will be Amaryl, Avandia, Celexa, Ditropan, Gemzar, Invan, Lipitor, Mobic, Norvir, Novolog, Rapamune, Tamiflu, Trileptal, Zocor, Zofran, and Zyvox. According to the agenda, Celexa will be discussed at 9:30 am.

Notablecalls: I've seen comments like this one before. Never worked. If indeed Reuters spits out some headlines on Celexa, you have a nice bounce play there. Would not short ahead of the release.

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