Zealand Pharma (Buy, TP: DKK1010.00) - Glepaglutide uncertainty
The FDA has concluded that Zealand Pharma’s application for glepaglutide in short bowel syndrome did not accommodate its requirements. As a result, Zealand Pharma expects to initiate a phase III trial in 2025 to support approvals ex-EU and provide confirmatory evidence for a regulatory resubmission in the US. We now assume a 48% POS for glepaglutide and have cut our risk-adjusted NPV/share to DKK31. We reiterate our BUY but have cut our target price to DKK1,010 (1,050).Novo-Nordisk is a global healthcare company engaged in the innovation of diabetes care. Co. also provides haemophilia care, growth hormone therapy and hormone replacement therapy. The Diabetes care business segment includes research, development, manufacturing and marketing of products within the areas of insulin, GLP-1 and related delivery systems, oral antidiabetic products (OAD) and obesity. The Biopharmaceuticals business segment includes research, development, manufacturing and marketing of products within the areas of haemophilia, growth hormone therapy, hormone replacement therapy, inflammation therapy and other therapy areas.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.