The Zacks Analyst Blog Highlights:Theravance, Astellas Pharma, Hospira, GlaxoSmithKline and Winthrop Realty Trust

Aug 16, 2013, 09:30 ET from Zacks Investment Research, Inc.

CHICAGO, Aug. 16, 2013 /PRNewswire/ -- announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Theravance, Inc. (Nasdaq: THRX-FreeReport), Astellas Pharma (OTC:ALPMY-Free Report), Hospira, Inc. (NYSE: HSP-Free Report), GlaxoSmithKline (NYSE: GSK-Free Report) and Winthrop Realty Trust (NYSE: FUR-Free Report).


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Here are highlights from Thursday's Analyst Blog:

Good News for Theravance

Theravance, Inc. (Nasdaq: THRX-Free Report) recently announced that it has reintroduced its injectable antibiotic Vibativ (telavancin) in U.S. markets. Vibativ is approved for treating adults suffering from complicated skin and skin structure infections, resulting from susceptible gram-positive bacteria, including both methicillin-resistant and methicillin-susceptible strains of staphylococcus aureus.

We note that the drug is also approved for treating adults suffering from hospital-acquired and ventilator-associated bacterial pneumonia when other alternatives are not available. We note that Theravance's deal with Astellas Pharma (OTC:ALPMY-Free Report) regarding Vibativ was terminated by the latter in Jan 2012. Following the termination of the deal, supplies of Vibativ were hit badly, leading to the suspension of commercialization of the antibiotic. To resolve the situation, Theravance inked a supply deal for Vibativ with Hospira, Inc. (NYSE: HSP-Free Report). In Jun 2013, the U.S. Food and Drug Administration (FDA) approved Hospira as a manufacturer of Vibativ.

With Vibativ supplies being restored, Theravance resumed shipping the drug into the U.S. wholesaler channel. The reintroduction of Vibativ in the U.S. is very encouraging for Theravance as the resumption of sales would bring in additional revenues to the company.

We are also positive on Theravance's partnership with GlaxoSmithKline (NYSE: GSK-Free Report). In May 2013, Theravance received a boost when the FDA approved Breo Ellipta, also co-developed with Glaxo, as a long-term maintenance therapy of airflow obstruction and for bringing down exacerbations in patients suffering from COPD. Breo Ellipta is expected to be available from the third/fourth quarter of 2013. Another COPD candidate, developed under this partnership, is Anoro Ellipta. The candidate is under review in the U.S. (target date: Dec 18, 2013).

Theravance carries a Zacks Rank #3 (Hold). Hospira appears to be more attractive with a Zacks Rank #2 (Buy).

Winthrop to Buy 4 Apartment Assets

Mass.-based real estate investment trust (REIT), Winthrop Realty Trust (NYSE: FUR-Free Report) inked a binding purchase deal to acquire 4 recently built Class A luxury apartment assets – 44 Monroe, Highgrove, Mosaic II and San Pedro Lofts – for about $246 million. The move was in line with the company's strategy of buying high quality condo constructed multifamily assets.

44 Monroe is a 34-story residential property (184 units) in Arizona, Phoenix and Highgrove is an 18-story residential building (92 units) in Stamford, Conn.  Moreover, Mosaic II is a 29-story residential property (396 units) in Houston, Texas and San Pedro Lofts comprises 2 distinct residential buildings (89 units) in San Pedro, Calif.

Winthrop expects the acquisition of these properties to close around September to October this year, subject to customary closing conditions. For buying the assets, the company provided a non-refundable deposit worth $25.5 million. The balance amount is anticipated to stem from a mix of available cash and new secured financing.

Notably, Winthrop is focused on riding the growth trajectory by capitalizing on opportunistic investments and the current deal is a part of such efforts. We expect the above-mentioned accretive acquisitions to enhance its portfolio quality and drive bottom-line growth.

Winthrop Realty engages in the ownership and management of real estate and real estate-related financial instruments such as CMBS, bonds, REIT preferred and common stock. The company carries a short-term Zacks Rank #1 (Strong Buy).

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