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Roche management to meet with JPMorgan
Meeting to be held in San Francisco on November 6 hosted by JPMorgan.
Morgan Stanley sees little impact to Regeneron from competitor data at AAO
Morgan Stanley analyst Matthew Harrison noted that data was presented at the American Academy of Ophthalmology's annual meeting for three potential competitors to Regeneron's (REGN) Eylea - Allergan's (AGN) abicipar pegol, Novartis' (NVS) brolucizumab and Roche's (RHHBY) faricimab. Following the presentations, his view on abicipar and brolucizumab is unchanged and he awaits further late-stage data from faricimab, said Harrison, who sees little impact to Regeneron based on the new data. He maintains an Equal Weight rating on Regeneron shares.
Wells Fargo says Trump speech today won't be end of drug pricing proposals
Wells Fargo analyst David Maris notes that Politico and other media outlets are reporting that President Donald Trump will propose several new initiatives to address high drug prices when he speaks later today at the U.S. Department of Health and Human Services. Maris thinks Trump's focus will be on how other countries are "freeloading" on U.S. innovation with lower negotiated pricing, stating that news reports make it appear that the administration is targeting the industry for action, rather than other countries to raise their spending. While Maris acknowledges the timing of the speech being near the mid-term elections, he believes these proposals are simply the follow-though of earlier promises. He also expects this is not the end of proposals to address the issue of U.S. drug pricing. Publicly traded large-cap drugmakers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).
Piper 'perplexed' by Alexion earnings selloff, says buy shares
Piper Jaffray analyst Christopher Raymond recommends using the selloff today in shares of Alexion Pharmaceuticals (ALXN) as a buying opportunity. The company reported "yet another strong beat/raise quarter and continued impressive pipeline progress," Raymond tells investors in a research note. The analyst sees "little to quibble with commercially" with Soliris' "continued strength and a rapidly expanding margin profile." Raymond is "perplexed" by the stock pullback and keeps an Overweight rating on Alexion with a $177 price target. The stock could be weak on fears over Roche's (RHHBY) update on RG6107, the analyst adds. He says Alexion remains one of his favorite large caps to own "well into 2019."
Roche reinitiated with a Peer Perform at Wolfe Research
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