We are presenting a list of companies which we believe are currently mispriced, based on our estimate of fair value, by the market. We develop our fair value ranges by projected free cash flow out one year and estimating an appropriate FCF multiple based on our assessment of risk and the strength of the balance sheet.

Cisco Systems [CSCO: 19.57, +0.84 (+4.48%)] Recent Price $17.04 Value Range 21.86 – $38.41 Cisco Systems, Inc. designs, manufactures and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use. The Company provides a line of products for transporting data, voice, and video within buildings, across campuses, and around the world. Its products are designed to transform how people connect, communicate and collaborate. Cisco Systems, Inc.’s products, which include primarily routers, switches, and products that the

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Business fundamentals at Sepracor (SEPR) have been poor over the past several quarters. Lunesta growth disappointed throughout 2008 and guidance for 2009 assumes sales will decline between 5% and 10%. Likewise, Xopenex and Xopenex HFA also disappointed throughout 2008.Sales will also decline in 2009. Brovana, a product which on the cusp seems to offer blockbuster potential, continues to struggle with sales tracking far below $100 million - a level we originally believed Brovana would eclipse only a few quarters after launch.New products, Alvesco and Omnaris, which management believes offer multi-hundred million dollar potential, also continue to struggle, and guidance for 2009 sales was very disappointing. In fact, total revenues in 2009 will likely decline between 5% and 10%.Earnings in 2009, however, will skyrocket by 55% to our forecast of $2.50. This is driven by a massive cost-cutting and workforce restructuring announced in ...

Below is a summary of updates to the BioMedReports.com database of over 200 entries included in the FDA and Clinical Trial Calendars. The FDA Calendar includes companies with pending new drug, biological agent, or medical device new product decisions at the FDA sorted by their PDUFA decision deadline dates while the Clinical Trial Calendar encompasses pending clinical trial results (with a focus on late-stage, Phase 3 trials), pending new submissions to the FDA (e.g. NDA, BLA, 510k, PMA, sNDA, sBLA filings), and pending re-submissions to the FDA for complete response rulings by the agency which require more information before an approval can be granted.  

On 5/19/09, Biogen [BIIB: 50.69, +0.30 (+0.60%)] and Genentech (acquired by Roche) [RHHBY: 0.00, N/A (N/A)] announced that the companies submitted two supplemental Biologics License Applications (sBLAs) to the FDA for Rituxan (rituximab) plus standard chemotherapy for people with

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Business fundamentals at Sepracor, Inc. (SEPR) have been poor over the past several quarters. Lunesta growth disappointed throughout 2008 and guidance for 2009 assumes sales will decline between 5% and 10%.Likewise, Xopenex and Xopenex HFA also disappointed throughout 2008. Sales will also decline in 2009. Brovana, a product which on the cusp seems to offer blockbuster potential, continues to struggle with sales tracking far below $100 million -- a level we originally believed Brovana would eclipse only a few quarters after launch. New products, Alvesco and Omnaris, which management believes offer multi-hundred million dollar potential, also continues to struggle and guidance for 2009 sales was very disappointing. In fact, total revenues in 2009 will likely decline between 5% and 10%.Earnings in 2009, however, will skyrocket by 60% to our forecast of $2.59. This is driven by a massive cost-cutting and workforce restructuring announced in ...

AstraZeneca (AZN) sales reps may have been instructed to tell physicians that the company's multibillion dollar antipsychotic, Seroquel, was not associated with the development of diabetes. This, according to court documents and reported by the Wall Street Journal, contradicts what a company doctor had previously suspected. AstraZeneca commented that their doctors' initial analysis was not conclusive, and after a more comprehensive review, it was found that the drug did not cause diabetes.The WSJ noted that a variety of documents, from unpublished clinical studies to court depositions, were unsealed by AstraZeneca as a result of numerous lawsuits brought by patients claiming adverse affects from treatment with Seroquel.Seroquel, along with the company's extended release formula (Seroquel XR), is used for the treatment of a variety of psychotic disorders and is the leading branded drug for the treatment of bipolar and schizophrenia. Seroquel/XR posted combined sales of ...