Dr. Reddy issue has been exaggerated by some analysts and now they try to play it down. Even chameleons are laughing.
Anyway, I see CELG to open with a gap on Monday. I don't like gaps since they invites day traders and the price may reverse itself. I like to see a slow but steady rise.
No Reddy IPR’s this week should also remove some overhang: We’ve written previously we don't see this as a major threat given many hurdles for Reddy’s. Regardless, no IPR filings signal less overhang to deal with for investors (positive) and Reddy’s is working with a polymorph that we think may be too different (outside of the key 8 that CELG has claimed) and if Reddy does not infringe it may not be substitutable even if ever approved. The whole IPR landscape has changed anyways given abilities for patent owners to revise claims and ultimately whether IPRs even hold up in Supreme Court in H1-18...