S&P alters Arbor outlook

S&P said it revised the outlook for Arbor Pharmaceuticals Inc. to negative from stable on lower revenue and EBITDA estimates due to by product development delays.

“The company recently received two complete response letters (CRLs) for recent FDA submissions intended to extend the lifecycle of current products, exposing BiDil and potentially Nymalize (depending on the success of in-progress lifecycle management) to generic competition in 2020. The company intends to file a number of applications with the FDA in the fourth quarter of 2019, but given Arbor’s recent poor development track record, the company’s long-term growth prospects are uncertain,” said S&P in a press release.

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