UCB: Oddo BHF a buyer, pending a meeting on Evinity
(CercleFinance.com) - Broker Oddo BHF reiterates its "buy" rating, along with its target price of 76 euros for the UCB stock, after learning that on 16 January, an FDA committee will evaluate the risk-benefits of Evinity, its osteoporosis drug that the group has developed in partnership with Amgen.
The decision of this expert committee is, in our opinion, essential for UCB in the near term, as the group's strategy will depend on this (allocation or not of launch costs for 2019), said the analyst who monitors the Belgian pharmaceutical laboratory.
Oddo BHF says that Evinity will potentially compete with Tymlos of Radius. It says that the drug that was approved in the first half of 2017, should generate between 155 million dollars and 175 million dollars in sales in 2019 (group guidance).
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The decision of this expert committee is, in our opinion, essential for UCB in the near term, as the group's strategy will depend on this (allocation or not of launch costs for 2019), said the analyst who monitors the Belgian pharmaceutical laboratory.
Oddo BHF says that Evinity will potentially compete with Tymlos of Radius. It says that the drug that was approved in the first half of 2017, should generate between 155 million dollars and 175 million dollars in sales in 2019 (group guidance).
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.