Aralez Pharmaceuticals Inc (NASDAQ:ARLZ) announced the commercial launch of BLEXTEN (Bilastine 20 mg oral tablet) for the treatment of the symptoms of Seasonal Allergic Rhinitis (SAR) and Chronic Spontaneous Urticaria (CSU) (such as itchiness and hives) in Canada. BLEXTEN will be distributed in Canada by Tribute Pharmaceuticals Canada Inc. (Tribute), a subsidiary of the Company.
“We are pleased to announce the commercial launch of BLEXTEN in Canada supported by our Canadian sales force,” said Adrian Adams, Chief Executive Officer of Aralez. “BLEXTEN represents an additional treatment option that physicians can offer Canadian patients suffering from seasonal allergies and hives and will play a role in driving organic growth of the Canadian business.”
BLEXTEN is an innovative drug, and as such is entitled to an eight-year term of data protection (market exclusivity) under section C.08.004.1 of the Food and Drug Regulations. The Company estimates that the Canadian antihistamine market is currently valued at approximately C$120 million per year. SAR and CSU are both allergic disorders that can adversely affect quality of life to the extent that work or school productivity may be impairedi. The characteristic symptoms of allergic rhinitis are nasal itching, congestion, runny nose (rhinorrhea) and sneezing. For urticaria, characteristic symptoms include itchy skin lesions with a central swelling (wheals) and painful areas of deeper swelling involving the skin and mucous membranes (angioedema). (Original Source)
Shares of Aralez Pharmaceuticals closed last Friday at $4.87, down $0.06 or -1.22%. ARLZ has a 1-year high of $6.80 and a 1-year low of $3.10. The stock’s 50-day moving average is $4.73 and its 200-day moving average is $4.49.
On the ratings front, Aralez Pharmaceuticals has been the subject of a number of recent research reports. In a report issued on November 8, Chardan analyst Keay Nakae reiterated a Buy rating on ARLZ, with a price target of $10, which implies an upside of 105% from current levels. Separately, on October 10, Guggenheim’s Louise Chen maintained a Buy rating on the stock and has a price target of $12.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Keay Nakae and Louise Chen have a yearly average loss of -21.7% and -15.3% respectively. Nakae has a success rate of 36% and is ranked #4145 out of 4283 analysts, while Chen has a success rate of 32% and is ranked #4171.
Aralez Pharmaceuticals Inc. operates as a pharmaceutical company. It focuses on the development, acquisition, and commercialization of cardiovascular, pain, and other product therapies.