Aralez Pharmaceuticals Inc (NASDAQ:ARLZ) announced that it has entered into a rebate agreement with CaremarkPCS Health (also known as CVS Caremark), which secures formulary status for YOSPRALA, the only prescription fixed-dose combination of an anti-platelet agent, aspirin, and a proton pump inhibitor, omeprazole, in the United States. The rebate agreement with CVS Caremark is effective immediately.
“At launch we had approximately 25% of lives covered, which increased to 50% in early November,” said Adrian Adams, Chief Executive Officer of Aralez. “Through the successful implementation of our managed care strategy, and with the addition of this rebate agreement with CVS Caremark, we now anticipate approximately 80% of lives will be covered and not blocked. We are pleased with our managed care progress thus far as we continue to have ongoing discussions with other pharmacy benefit managers and payors with the goal of further increasing patient access to YOSPRALA commencing in early 2017.” (Original Source)
Shares of Aralez Pharmaceuticals Inc. Common Shares closed yesterday at $4.78, down $0.09 or -1.85%. 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 $4.67 and its 200-day moving average is $4.47.
On the ratings front, Aralez Pharmaceuticals Inc. Common Shares 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 represents a potential upside of 109% from where the stock is currently trading. 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 -23.3% and -16.2% respectively. Nakae has a success rate of 36% and is ranked #4139 out of 4274 analysts, while Chen has a success rate of 29% and is ranked #4158.
Aralez Pharmaceuticals Inc. operates as a pharmaceutical company. It focuses on the development, acquisition, and commercialization of cardiovascular, pain, and other product therapies. The company was founded on December 2, 2015 and is headquartered in Ontario, Canada.