Allergan Faces Pipeline Issues, but Shares Look Undervalued as Restasis Clarity Approaches
Allergan recently reported two pipeline-related setbacks. First, second-year data from its phase 2 clinical study for NASH drug cenicriviroc, or CVC, continues to paint an unclear picture for the product. Second, the Food and Drug Administration rejected Allergan's supplemental application for Vraylar in negative symptoms, a potentially important point of differentiation for the drug versus other antipsychotics. Vraylar has already been approved for schizophrenia and bipolar disorder with sales ...
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