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Fly News Breaks for April 20, 2018
ALXN
Apr 20, 2018 | 15:28 EDT
Piper Jaffray analyst Christopher Raymond called news that the Brazilian Attorney General's Office won a court decision that paves the way for a biosimilar version of Soliris "admittedly a negative headline," but he believes the shares are overreacting. Many practical obstacles still exist to a generic launch, "not least of which being the fact that no biosimilar agent is even close to market," Raymond told investors. The analyst, who estimates that 5% of FY18 revenue would be Brazilian sales of Soliris, does not think those sales are "going away anytime soon." He keeps an Overweight rating on Alexion shares.
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