Amneal Complete Response Letter a surprise, says Barclays

Barclays analyst Balaji Prasad says Amneal Pharmaceuticals’ Complete Response Letter for IPX203 comes as a surprise. However, the firm views positively that no efficacy or manufacturing issues were flagged. Additional pharmacokinetics data will be required to achieve approval, ultimately delaying launch until at least the first half of 2024, the analyst tells investors in a research note. The firm keeps an Overweight rating on the shares with a $4 price target.