Reiterating his bullish case for Eurand NV (EURX), Zacks senior pharmaceutical industry analyst Grant Zeng, CFA explains why the future looks bright for the biopharmaceutical company:

'Eurand NV is a specialty pharmaceutical company, engaging in the development, manufacture, and commercialization of enhanced pharmaceutical and biopharmaceutical products based on its proprietary drug formulation technologies. The company completed the NDA filing for its lead candidate Zentase for the treatment of pancreatic insufficiency in December 2007.

'The company has additional late-stage drug candidates under development. We are optimistic about the company's technologies and prospects of its drug candidates. Eurand is on track to achieve profitability in 2008. We are maintaining our Buy rating on Eurand with a price target of $18. We are optimistic about the company's drug formulation technologies which have a broad range of applications in drug development.

'The technologies will allow the company to continue to attract collaboration partners going forward. We are especially positive about Zentase, the company's lead drug candidate for the treatment of exocrine pancreatic insufficiency. Zentase is currently under FDA review, and the drug will have the first mover advantage if approved. We estimate an outright approval of Zentase in 2008.

'Eurand's pipeline is robust with late-stage drug candidates for its partners including Amrix, which has been approved by the FDA and will be marketed by Cephalon (CEPH). Eurand is amongst the few biopharmaceutical companies with diversified revenue stream. The company is on track to achieve profitability in 2008. Current price represents an attractive entry point. Therefore, we assign a Buy rating on its shares.'