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Fly News Breaks for March 24, 2015
SRNE, CELG
Mar 24, 2015 | 07:26 EDT
UBS believes Sorrento Therapeutics' (SRNE) drug to compete with Celgene's (CELG) Abraxane will need additional studies on both efficacy and safety for approval. The firm feels even if Sorrento drug is approved on bioequivalence the commercial impact will be limited, prompting UBS to make no change to their estimates for Celgene. UBS reiterated its Buy rating and $130 price target on Celgene.
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