The latest Market Talks covering the Health Care sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0409 ET – Sanofi’s expanded alliance with Regeneron Pharmaceuticals represents the French drugmaker’s first step toward addressing its long-term outlook and should be seen as a clear sign of progress under new CEO Belen Garijo, Jefferies analysts write. “While the assets are early-stage, the expansion should be viewed positively, as it signals the new CEO’s proactive focus on the most important yet addressable uncertainties investors face,” they say. Potential acquisitions and a settlement to delay copycat versions of Dupixent are other key steps, they add. Sanofi shares rise 0.6%.
0309 ET – Sanofi’s deal to expand its alliance with Regeneron provides a boost to its early-stage pipeline, J.P. Morgan analysts write. Sanofi will pay Regeneron $1 billion upfront, and up to $7 billion subject to targets, to access four new drug candidates. Now that an agreement is reached, investors likely switch focus to dealmaking. Sanofi shares rise 2%.
1918 ET – A more than 20% fall in Imricor Medical Systems’ share price since entering the ASX 300 index creates a buying opportunity, says Morgans. Imricor ended Wednesday at A$1.585, having traded as high as A$2.07 in August. Morgans’ Scott Power expects the share price to move back over A$2.00 given expected news flow. Morgans has a speculative buy call.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing