Unilife (UNI.AX) (UNIFF.PK): Griffin Initiates a Buy, US$3 Target

Highlights from the report include the following:

1.) Unilife has a disruptive drug delivery technology with a sound strategy to enter the U.S. and European needle and syringe markets

2.) Unilife has a big pharma partner in Sanofi-Aventis (NYSE:SNY), which is investing $38 million into the Company through an industrialization agreement

3.) Starting next year, additional supply agreements in other therapeutic areas (outside of the SNY agreement) are anticipated

4.) Unilife expects to obtain a U.S. listing for its stock, since it has relocated its headquarters to Pennsylvania and also has a major manufacturing facility there

Disclosure: No positions