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Fly News Breaks for January 7, 2020
APLS, ALXN
Jan 7, 2020 | 15:56 EDT
JPMorgan analyst Cory Kasimov said he considers this morning's positive Phase 3 pegcetacoplan data from Apellis (APLS) to be an "incremental negative" for Alexion (ALXN), but even if there's a material loss of share in this setting, it is a small overall segment for Alexion and the impact to his estimates seems "rather modest." While he acknowledges the potential competitive threats to Alexion's paroxysmal nocturnal hemoglobinuria franchise, he also expects continued solid execution on the Soliris-to-Ultomiris conversion, said Kasimov, who has an Overweight rating on Alexion shares.
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