BioMarin Pharmaceutical (BMRN) announced that the company received $20M in milestone payments from Pfizer (PFE). These milestone payments were triggered by the U.S. FDA acceptance of Pfizer’s New Drug Application submission for talazoparib and by the European Medicines Agency acceptance of Pfizer’s submission of a Marketing Authorization Application for talazoparib. These milestone payments are part of an agreement made with Medivation when the company purchased talazoparib. Medivation was acquired by Pfizer.
Thursday, June 7, 2018
Wednesday, June 6, 2018
Valeant upped to buy by Barclays
Barclays upgraded Valeant Pharmaceuticals (NYSE: VRX) from Equalweight to Overweight with a price target of $29.00 (from $20.00).
Cigna Set To Disrupt Commercial Risk Market, Goldman Sachs Says In Upgrade
Insurer CIGNA Corporation CI 2.4% is poised to sustain share gains in the U.S. commercial risk market, according to Goldman Sachs.
The Analyst
Analyst Stephen Tanal upgraded shares of Cigna from Neutral to Buy and increased the price target from $193 to $212, suggesting more than 24-percent upside.
The Thesis
Tanal projects market share gains for Cigna on the basis of the following factors:
- The absence of a major commercial risk business to protect.
- A nationwide value-oriented provider network is in place.
- Upside is expected from potential new commercial risk business wins.
If Cigna successfully closes the Express Scripts Holding Co ESRX 2.22% acquisition, Tanal said Cigna’s market share gains in the commercial risk space will accelerate due to its improved ability to manage the pharmacy trend. (See the analyst’s track record here.)
The above factors could help Cigna grow its commercial risk book with little incremental investment of resources, the analyst said.
Goldman estimates the addressable profit pool for commercial risk at $21-$41 billion in aggregate.
Each 100-basis point market share gain at half the estimated margin rate of the industry would mean $100 million to $200 million in pre-tax profit, equaling 2-5 percent of Goldman’s 2018 pre-tax estimate for Cigna.
“We believe CI’s ability to continue taking share will be supported by its ability to sell its track record of best in class medical cost management,” Tanal said.
United Natural Foods raises FY18 adj EPS view to $3.18-$3.23 from $3.06-$3.14
FY18 consensus $3.10. Raises FY18 revenue view to $10.23B-$10.28B from $10.01B-$10.16B, consensus $10.1B.
Subscribe to:
Posts (Atom)