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Jefferies raised estimates on Endo Pharmaceuticals (ENDP
).
On Tuesday the company raised its revenue and EBITDA guidance. Analyst Himanshu Rastogi says he raised the 74 cents 2003 earnings per share estimate to $0.83, and upped the 82 cents 2004 estimate to 91 cents. Rastogi says the upward revisions reflect a higher sales forecast for Lidoderm, and a delay in competition for morphine sulfate. He notes Lidoderm's monthly prescriptions doubled throughout 2002, vs. the prior year, and he says this trend has continued in 2003 despite tougher comparisons. Rastogi also says Script volume rose 96% in January and 91% in February. He notes Percocet volume rose 42% in January and 33% in February, and is the third most prescribed oxycodoneacetaminophen with an 18% market share.
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