Citigroup reiterates Andrx at hold

Andrx was reiterated by Citigroup analyst Andrew Swanson at a hold rating and a $22 price target on news that a judge in the consolidated Toprol XL litigation has ruled against AstraZeneca on summary judgment. Citigroup believes the company has first-to-file status on the 50 mg dose, which accounts for about $500 million in U.S. sales. Shares of the Plantation, Fla., pharmaceutical company were up $1.41, or 8.50%, at $18.00 on volume of 4,034,384 shares versus the three-month running average of 680,724 shares. (Nasdaq: ADRX).

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