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Market Movers

Eye drug could face generic rivals sooner

Allergan makes Restasis to treat chronic dry eye.

AFP

Allergan makes Restasis to treat chronic dry eye.

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Allergan Inc.’s Restasis treatment for chronic dry eye disease could face generic competition sooner than expected, leading to downgrades by Deutsche Bank and Leerink Swann, Dow Jones reported. Sales estimates for Restasis, Allergan’s second-biggest drug, could be reduced 67 percent in 2016, Deutsche Bank said; it cut its rating to “hold.” Analysts assumed “minimal to no generic risk” for Allergan, which also makes Botox, but new FDA guidance changes the equation, the investment bank said.

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