Vanda's Fanapt Deal Just Okay: BioBuzz
Meantime, Titan Pharmaceuticals (TTNP.PK) is essentially in the same boat. Titan gets about a 10% royalty on Fanapt sales, payable by Novartis. Titan doesn't receive any milestone payments.
Using the same peak sales estimate for Fanapt as above, Titan is fairly valued between $1.50 a share to $3 a share. The stock currently trades around $1.49.
J&J Tops Third-Quarter Earnings View
(At 7:58 AM EDT)
Johnson & Johnson (JNJ) said Tuesday that third-quarter earnings rose 2.6% to $1.20 a share on total revenue of $15.1 billion.Analysts, on average, were expecting third-quarter earnings of $1.13 a share, although Johnson & Johnson's revenue came in a bit lighter than consensus of $15.2 billion. The diversified health care giant raised guidance for 2009 earnings to a range of $4.54 to $4.59 a share from its previous forecast range of $4.45 to $4.55 a share. -- Reported by Adam Feuerstein in Boston
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