MGI Pharma given outperform rating by Thomas Weisel

Thomas Weisel Partners analyst Joe Slavinsky rated MGI Pharma Inc. at an outperform rating on its initial research coverage of the company. Weisel expects continued growth of MGI Pharma's Aloxi product for chemotherapy-induced nausea and vomiting. MGI plans to submit a New Drug Application for Saforis for chemotherapy-induced oral mucositis, in the second quarter of this year, with estimated peak sales of $100 million annually. Shares of the Bloomington, Minn., biopharmaceutical company were up 15 cents, or 0.94%, at $16.10 on volume of 1,342,938 shares versus the three-month running average of 1,554,940 shares. (Nasdaq: MOGN)

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