Today, Regeneron (REGN) announced positive topline phase 2 data for pozelimab in patients with paroxysmal nocturnal hemoglobinuria (PNH), a disease that is treated by ALXN's drugs Ultomiris and Soliris. The patients in the trial (6 total) received a weekly dosing regimen of pozelimab, which, by week 8, brought patients' previously-elevated lactate dehydrogenase (LDG) levels to a normal range without serious adverse events. We do not currently view pozelimab as a serious threat to ALXN's valuation because ALXN is already well on its way to establishing Ultomiris as the standard of care in anticipation of competition in the next few years. By the time pozelimab could make it to the market (~2023), we believe that ALXN will have converted almost all its patients on Soliris to Ultomiris, which has an 8-week dosing frequency vs. pozelimab's current weekly dosing frequency. We also believe that consensus estimates already factor in competitive headwinds that are stronger than we anticipate.
|Market Chatter: Google to Strictly Implement In-App ...|
|Google Hit by Service Outage Due to Server Crash|
|Analyst Actions: Goldman Sachs Adjusts Price Target ...|
|Market Chatter: ProSight Global Reportedly in Takeov...|
|Colony Capital's Convertible Senior Notes Offering E...|