January 19, 2018 / 4:43 PM / 2 years ago

BUZZ-Valeant Pharma: Slide continues on possible threat to diarrhea drug

** Valeant’s U.S.-listed shares down about 4 pct, falling for the fourth session in a row

** Two analysts note concerns about a potential threat to Valeant’s diarrhea drug Xifaxan from Cosmo Pharma’s treatment that is mid-stage trials

** But Cantor Fitzgerald analyst Louise Chen notes Cosmo’s rifamycin expected to file for traveler’s diarrhea, an insignificant percentage of Xiafan’s ~$1 bln in annual sales

** Chen says Xiafan’s revenue is mostly reliant on irritable bowel syndrome associated with diarrhea (IBS-D), reiterates “overweight” rating on VRX

** Wells Fargo’s David Maris says rifamycin could report positive data in IBS-D, and a U.S. approval for TD could be a threat to Xifaxan due to off-label use for IBS-D - Seeking Alpha

** Chen notes widespread off-label use of rifamycin for IBS-D is unlikely as insurers will not reimburse off label usage

** VRX now down a shade over 11 pct in past 4 sessions, cutting its YTD gains to 2 pct (Reporting by Tamara Mathias in Bengaluru)

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