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ALXN

Alexion

$106.59

-5.15 (-4.61%)

15:36
04/20/18
04/20
15:36
04/20/18
15:36

Alexion says no licence of Soliris was requested or granted in Brazil

Recent media reports have incorrectly stated that the Brazilian Superior Court of Justice has granted a compulsory license of Soliris. Alexion would like to clarify that no compulsory license of Soliris was requested or granted in Brazil. The recent decision by the court refers to a different legal matter with the Brazilian Patent Office related to a Soliris mailbox patent that expired in 2015. Alexion is evaluating the full decision by the court in this patent case before exploring the options to respond. Alexion continues to have patent applications pending in Brazil that would provide additional protection to Soliris. Brazil represents a low single digit percentage of Alexion's worldwide sales. This patent matter has no implications for intellectual property outside of Brazil.

  • 26

    Apr

ALXN Alexion
$106.59

-5.15 (-4.61%)

04/20/18
PIPR
04/20/18
NO CHANGE
PIPR
Overweight
Alexion shares overreacting to Brazil news on Soliris patent, says Piper Jaffray
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.
04/20/18
EVER
04/20/18
NO CHANGE
EVER
Outperform
Alexion weakness on Brazil patent news a buying opportunity, says Evercore ISI
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.
04/20/18
LEER
04/20/18
NO CHANGE
LEER
Outperform
Brazilian generic risk having exaggerated impact on Alexion shares, says Leerink
Leerink analyst Geoffrey Porges noted that Alexion shares fell abruptly after a report that the Brazilian Attorney General will allow for production of generic versions of Soliris. While certainly a negative headline, he estimates that about 5% of global Soliris revenue comes from Brazil, based on prior company disclosures. Even by completely removing these sales from his model, Porges' price target would decrease by $4-$5 per share, he said, adding that a generic developer of eculizumab would not be able to manufacture and sell an alternative product in Brazil for at least 2-3 years. The analyst, who thinks that the news is currently having an exaggerated impact on Alexion shares, has an Outperform rating on the stock.
04/12/18
NOMU
04/12/18
NO CHANGE
Target $165
NOMU
Buy
Alexion price target raised to $165 from $156 at Nomura Instinet
Nomura Instinet analyst Christopher Marai raised his price target for Alexion Pharmaceuticals to $165 following the company's acquisition of Wilson Therapeutics. The analyst incorporated WTX101 estimates into his model and keeps a Buy rating on Alexion.

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