SOURCE: Leerink Swann & Company

June 24, 2005 11:41 ET

Leerink Swann & Company Initiates Coverage of MGI PHARMA, INC. (NASDAQ: MOGN)

BOSTON, MA -- (MARKET WIRE) -- June 24, 2005 -- This morning, Senior Biotechnology Analyst, Ron Ellis, initiated coverage of MGI PHARMA, INC. (NASDAQ: MOGN) with an Outperform rating. With its commercial foundation in place and a maturing pipeline, he believes that MGI PHARMA represents an attractive investment opportunity. In Dr. Ellis' view, near-term catalysts for MGI PHARMA include an FDA decision on Dacogen™, its drug candidate in the final stages of development, and milestone achievements in four programs.

About MGI PHARMA, INC.

MGI PHARMA, INC. is an oncology-focused biopharmaceutical company. Its product portfolio includes Aloxi® for the prevention of chemotherapy-induced nausea and vomiting, Kadian® capsules for cancer pain, Hexalen® capsules for refractory ovarian cancer, and Salagen® tablets for radiation-induced dry mouth in head and neck cancer patients. The Company reported 2004 revenues of $196 million and is headquartered in Bloomington, Minnesota.

About Leerink Swann & Company

Leerink Swann & Company is an investment banking firm that provides healthcare equity research, corporate finance, and asset management services for institutional and high-net-worth clients. Leerink Swann & Company was voted the Best Firm in Biotechnology, Medical Supplies and Devices, Pharmaceuticals/Major and Pharmaceuticals/Specialty in the December 2004 Institutional Investor poll ranking the best boutique and regional firms by sector. Through its consulting affiliate, MEDACorp, Leerink Swann & Company provides biomedical-consulting services to Life Sciences companies and to the institutional investment community. MEDACorp includes thousands of biomedical professionals and practicing physicians. Leerink Swann & Company is a member NASD/SIPC.

Contact Information

  • Contact:
    John I. Fitzgerald
    Leerink Swann & Company
    (617) 918-4564
    www.leerink.com