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Fly News Breaks for November 13, 2018
GWPH
Nov 13, 2018 | 07:31 EDT
Leerink analyst Marc Goodman started GW Pharmaceuticals with an Outperform and $185 price target as he initiates Neuroscience space with a Positive View. The analyst believes the Neuroscience sector is experiencing a "renaissance" as multiple new agents and mechanisms are coming up the pipeline across major therapeutic areas, the number of clinical studies is growing nicely, and the FDA is friendly to innovation in this space, companies are getting smarter about speed-to-market strategies and selecting niche sub-populations to focus on for initial product approvals, payer pushback on usage is much lower than in other categories, and physicians are enthusiastic about new agents. Regarding GW Pharmaceuticals, Goodman thinks the lead product, Epidiolex, which was just approved in the U.S. should be a blockbuster drug with peak sales of about $1.8B in 2026E, based on positive feedback from his physician survey and KOL interviews
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