Alder target for Allergan, Biogen? RBC

Developments at Allergan, Biogen indirectly positive for Alder, says RBC Capital. RBC Capital analyst Brian Abrahams noted that both Allergan (AGN) and Biogen (BIIB) have been viewed as companies that could potentially be interested in acquiring or partnering with Alder Biopharmaceuticals (ALDR) and he makes the case that developments in the past day or so for both of those large-cap drugmakers are indirectly positive for Alder. In terms of Allergan, Abrahams thinks the company stating that it plans to keep a primary care infrastructure to sell CGRPs and other CNS products maintains the likelihood they might have interest in Alder’s eptinezumab either as an acquisition or in a partnership. In terms of Biogen, Abrahams thinks the company’s hiring of a leader for a newly-created corporate development function who has extensive experience in business development potentially lays the groundwork for them to explore assets such as eptinezumab. The analyst maintains an Outperform rating and $24 price target on Alder shares.

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