Genmab — September 2019
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Deutsche Bank analyst Richard Parkes tells investors in a research note after attending the ECTRIMS conference in Stockholm that data from Novartis' (NVS) ASCLEPIOS trials suggests ofatumumab will be a "strong" competitor for Roche's (RHHBY) Ocrevus in relapsing/remitting multiple sclerosis.
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Parkes says he expects physicians to view the drugs as having broadly comparable and highly compelling efficacy, with ofatumumab's at-home dosing an attractive option for some patients, suggesting meaningful upside potential to his current 2024E ofatumumab sales of $1.1B and possible risks to his forecasts for Roche's Ocrevus. According to physician feedback, Parkes says the drugs are likely to share a rapidly growing market. Parkes maintains a Hold rating and 90 CHF price target on Novartis
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Great E L. A huge thank you from here.
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Great. Thanks EL. Analyst seems to like the ofa data more than the market.
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Novartis was down 1.5% and Roche up 1.6%. Thats more than 3% outperformance in favor of Roche....
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