Cosmo shares buoyed by successful antibiotic data

Shares of Italy's Cosmo Pharmaceuticals were buoyed by news of positive preliminary data from a Phase II/III trial of Rifamycin for infectious diarrhea. The antibiotic hit its primary goal of the time from taking a dose to the last unformed stool. Analysts immediately leaped on the news, citing the likelihood that the company would soon take several strides forward on its development. Lehman Brothers pegged potential annual sales at $120 million.

"We believe these positive data could now enable the product to be partnered in Europe and filed in selected European countries," said Lehman Brothers. "In addition, Cosmo will now likely commence a Phase III study for U.S. regulatory filing."

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