Neurocrine's Ingrezza Launch Continues To Exceed Expectations

To quote from the A-Team, "I love it when a plan comes together." Although it is still very early, Neurocrine Biosciences (NBIX) is executing well on the launch of its wholly-owned drug Ingrezza, and its partner AbbVie (ABBV) continues to move elagolix closer to the finish line for both endometriosis and uterine fibroids - indications that could both support more than $1 billion in royalty-generating sales. Additionally, Neurocrine continues to develop its clinical pipeline, with the company having started a new Phase IIb study for Ingrezza in pediatric Tourette's and planning to move its drug for congenital adrenal hyperplasia (or CAH) into a Phase II proof-of-concept study.

The market is reacting quite positively to the much better than expected revenue for Ingrezza, and the strong initial launch is encouraging, but the next few quarters could be a little more volatile as Neurocrine will have to contend with a competitive launch from Teva (TEVA), sampling, and shifts between the 40mg and 80mg doses. Even so, I believe the shares are undervalued now, with multiple clinical events on the horizon.

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Neurocrine's Ingrezza Launch Continues To Exceed Expectations

Seeking Alpha: Uncertainties And Wait Times Not Helping Neurocrine Biosciences

These aren't easy times for biotech, but that's not exactly news to investors in that sector. Neurocrine Biosciences (NASDAQ:NBIX) has gotten caught up in the sector-wide funk, though the shares have declined less since my last update than the biotech indices.

Neurocrine still looks promising to me. There are significant uncertainties about potential pricing for the company's lead drugs, not to mention the amount of effort that will have to go into building prescription-driving awareness. That said, this is still a company with multiple compounds with $1 billion-plus revenue potential that have largely proven their efficacy and safety in clinical trials. With the shares possibly undervalued by 50% or more, I would suggest this is still a worthwhile stock to consider for aggressive investors willing to put up with the risks and long waits that go with biotech.

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Uncertainties And Wait Times Not Helping Neurocrine Biosciences

The Motley Fool: Can Perrigo Company PLC Continue Its Bull Run?

There's a pretty good chance that if you use store-brand OTC consumer health products, you have a Perrigo (NYSE: PRGO  ) product in your bathroom right now. Perrigo hasn't completely eschewed the prescription-based generic drug business that build companies like Teva (NYSE: TEVA  ) , but it has focused a great deal of its time and energy on ruling the store-brand OTC market. That business now offers pretty solid cash flow and returns, with plenty of growth opportunity in areas like diabetes and pet care. Perrigo doesn't exactly carry a "store-brand" multiple today, but these shares could still offer some upside as the company looks forward to further OTC launches, additional M&A, and growth in the nutrition and overseas markets.

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Can Perrigo Company PLC Continue Its Bull Run?

The Motley Fool: Is Teva Pharmaceutical Industries Ltd Turning a Corner?

Once a darling of the health care space (and a frequent member of "buy and hold forever" lists), Teva Pharmaceuticals (NYSE: TEVA  ) spent about three and a half years in the market's doghouse. Investors bailed out due to worries about competition in the company's lucrative MS franchise, the perception of a dwindling pipeline for major generics, and turmoil in executive leadership. Now it looks as though the company has shored up its MS franchise, rejuvenated its R&D efforts, and become more serious about driving better value in/from the business.

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Is Teva Pharmaceutical Industries Ltd Turning a Corner?