Goldman: only niche opportunity for Inbrija, keeps Acorda at Sell

After the FDA approved Therapeutics’ Inbrija for intermittent treatment of OFF episodes in people with Parkinson’s disease treated with carbidopa/levodopa, Goldman Sachs analyst Salveen Richter said he assumes annual pricing of $4,800, which he estimates will translate to about $550M in U.S. peak sales, lower than the company’s guidance of over $800M. His checks with key opinion leader doctors point to Inbrija being a niche drug, said Richter, who adds that sees limited optionality in its remaining pipeline assets, which are “still early or risky.” Richter maintains a Sell rating on Acorda shares with a $10 price target.

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