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JP Morgan adds United Therapeutics to U.S. focus list

Thu Sep 11, 2008 1:45pm EDT

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(Reuters) - JP Morgan added United Therapeutics Corp (UTHR.O) to its focus list of U.S. equities with a $150 March 2009 price target, based on positive expectations for trials of the biotechnology company's pill to treat lung-related high blood pressure.

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The brokerage said the company will report data from two trials of oral drug Remodulin in pulmonary arterial hypertension over the next six months and it believes there is more than a 70 percent likelihood that both studies are statistically significant and clinically meaningful.

"In our view, United Therapeutic shares present a compelling risk-reward ahead of the data," analyst Geoffrey Meacham said in a note to clients.

The market opportunity for oral Remodulin could top $700 million at peak, Meacham said, and added potential sales of oral Remodulin to the earnings model, assuming $296 million in sales by 2012.

Shares of United Therapeutics closed at $113.77 Wednesday on Nasdaq.

(Reporting by Jennifer Robin Raj in Bangalore; Editing by Jarshad Kakkrakandy)
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