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Fly News Breaks for April 20, 2018
ALXN
Apr 20, 2018 | 14:50 EDT
Evercore ISI analyst Josh Schimmer believes today's weakness in Alexion after Brazil "shot down" the company's Soliris patent more than adequately reflects the news, which he adds was not totally unexpected. In May 2017, the company noted Brazil represented about 5% of Soliris revenue, Alexion continues to diversify away from the drug, and a biosimilar would still have to be developed and approved, Schimmer tells investors. The analyst, who would be a buyer amid the weakness, keeps an Outperform rating on Alexion.
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