Cipher Pharmaceuticals maintains hold rating from Laurentian

Management changes and product additions at Cipher Pharmaceuticals (Cipher Pharmaceuticals Stock Quote, Chart, News: TSX:CPH) are being regarded as “slightly positive” moves by Laurentian Bank Securities analyst Joseph Walewicz.

On Tuesday, Cipher announced it had appointed Louise Blythe as vice-president, regulatory affairs, and Brian Rosenberger as vice-president, alliance and strategic portfolio management. The company also promoted Joan Chypyha to president and general manager, Canada, and Joe Pecora to president and general manager, United States.

“Having significantly expanded our product portfolio, with an additional 13 dermatology products since the beginning of 2015, Louise and Brian bring considerable depth and breadth of experience that will be integral in maximizing the value and opportunity of our growing product portfolio,” said CEO Shawn Patrick O’Brien. “Louise has an exceptional track record, not only in terms of technical expertise, but also as a business executive and leader, and building regulatory teams and infrastructure. Brian’s broad-based capabilities and pharma experience, in particular in sales and marketing, and brand and life cycle management will be vital to driving value from our partnerships globally.”

Cipher also announced the Canadian launch of Vaniqa, a treatment for hyperkeratotic actinic keratosis, a precancerous patch of thick, scaly or crusty skin.

Walewicz says he regards the news as “slightly positive” and notes that the company said it expects to complete four deals within this quarter, something he is confident it can deliver.

“Cipher is strengthening the management team and product launches are progressing as expected,” he said.

In a research update to clients Tuesday, Walewicz maintained his “Hold” rating and one year target price of $13.00 on Cipher Pharmaceuticals.