Investment In Nuvo Research Looks Like An Easy Call
- Mallinckrodt Nuvo’s licensee for both Pennsaid® 1.5% and Pennsaid 2%, is in the process of converting Pennsaid 1.5% patients and prescribers to Pennsaid® 2%.
- Most recent IMS data shows Pennsaid® 2% prescriptions exceeded Pennsaid 1.5%. For 2014, we believe Pennsaid 2% sales could approach $29 million.
- We continue to believe Nuvo has a very strong case in their litigation with Mallinckrodt, and that a likely outcome will result in significant cash inflow to Nuvo.
- We believe Nuvo Research is significantly undervalued at today's price and offers upside of 200% based on our analysis.