Piper Jaffray Reviews Allergan After FDA Action

Piper Jaffray has published a research report on Allergan Inc AGN in light of recent FDA approval. In the report, Piper Jaffray wrote, "Yesterday, the FDA approved Botox for the treatment of neurogenic overactive bladder (nOAB) in patients who do not respond adequately to or cannot tolerate conventional anticholinergic treatment. Given the strength of the Phase III data (nearly 40% of patients on treatment were free of incontinence episodes, compared to around 8% of placebo patients), the approval is not a surprise to us." Piper Jaffray rated Allergan Inc a Neutral with no price target given. Piper Jaffray closed Wednesday at $77.90.