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Fly News Breaks for March 15, 2018
ALXN
Mar 15, 2018 | 08:35 EDT
Leerink analyst Geoffrey Porges noted that the first of two pivotal trials for ALXN1210 "easily demonstrated" non-inferiority to Soliris and "just missed showing superiority for 1210." The safety observations between the two medicines were "indistinguishable," which should alleviate concerns, he added. Porges also thinks the data should mitigate many of the competitive concerns related to other complement inhibitors in development and should allow Alexion to extend the IP of their complement franchise from the mid- to late-2020s to 2035. He keeps an Outperform rating and $153 price target on Alexion shares, adding that he would recommend buying even through $140-$150 per share.
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