RBC buyers of Intra-Cellular after ‘more favorable-than-expected’ settlement

After Intra-Cellular Therapies (ITCI) announced that it has entered into a settlement agreement with Sandoz (SDZNY) resolving patent litigation related to Intra-Cellular Therapies’ product Caplyta, RBC Capital notes this makes Sandoz the first of the seven ANDA filers to reach a deal. More favorable-than-expected terms for first generic lumateperone settlement bode well for Intra-Cellular’s ability to maintain Caplyta revenue durability, says the firm, which “would be buyers into strength.” RBC maintains an Outperform and $108 price target on the shares.