Cadence Pharma (NASDAQ:CADX) Launches Ofirmev in U.S. Market

After a very successful release in Europe, where it is the No. 1 IV pain product in the region, Ofirmev has now been released in the U.S. by Cadence Pharma (NASDAQ:CADX), which could become a huger commercial success for them.

Canaccord says, "Cadence announced yesterday that Ofirmev, its IV acetaminophen for pain and fever, is now commercially available in the US. Details provided on the call support our belief that Cadence is well positioned for a solid US launch and could replicate the commercial success of the product in Europe, where it is the leading IV pain product."

Canaccord Genuity reiterates a "Buy" rating on Cadence Pharma (CADX), which closed Wednesday at $7.46, gaining $0.27, or 3.76 percent. Canaccord has a price target of $14 on Cadence.