BofA raised the firm’s price target on Intra-Cellular (ITCI) to $118 from $100 and keeps a Buy rating on the shares after the company announced a favorable Caplyta patent settlement with Sandoz (SDZNY). While Intra-Cellular is still relatively early in its Caplyta patent defense, the firm said on Friday that it was encouraged to see Sandoz accept terms, which effectively ascribe value to the terminal formulation patent.
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- Intra-Cellular settles Caplyta patent litigation with Sandoz
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