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Fly News Breaks for January 17, 2017
LLY, INCY
Jan 17, 2017 | 08:11 EDT
Leerink analyst Michael Schmidt notes that Incyte (INCY) partner Eli Lilly (LLY) has announced that the U.S. Food and Drug Administration has extended the review period for the new drug application for baricitinib. While the analyst says the news comes as a surprise and represents a "minor setback," he points out it does not materially impact his investment thesis on Incyte. Schmidt reiterates an Outperform rating on Incyte's shares.
News For INCY;LLY From the Last 2 Days
LLY
Mar 26, 2024 | 07:08 EDT
JPMorgan estimates Amgen (AMGN) without its obesity pipeline is worth $240-$250 per share and that the market is assigning $30-$40 per share of value to Maritide. While the competitive bar for Maritide is high and moving higher based on Novo Nordisk's (NVO) recent pipeline updates, the obesity market is also "unprecedented in terms of size," the analyst tells investors in a research note. The firm estimates peak sales for Maritide of $6B, equating to mid-single-digit share within the incretin space. JPMorgan believes this supports a value roughly in-line with what is reflected in Amgen's current share price. It sees a positive risk/reward scenario given the recent pullback but maintains a Neutral rating on the name with a $290 price target. The firm says Amgen is viewed as the best positioned name beyond Eli Lilly (LLY) and Novo to have a role in the obesity space.