Report
Eric Le Berrigaud ...
  • Victor Floc’h

SECTOR | Pharmaceuticals | IBD: Abivax and Roche viewed as potential winners

SECTOR | Pharmaceuticals | IBD: Abivax and Roche viewed as potential winners

Inflammatory Bowel Disease (IBD), a USD15-20bn market. This report follows a meeting we organised with a KOL. IBD is an umbrella term used to describe disorders that involve chronic inflammation of the digestive tract. It can be divided into two different diseases: ulcerative colitis (UC) and Crohn's disease (CD). UC is limited to the colon while CD can occur anywhere between the mouth and the rectum. IBD is split about 50/50 between UC and CD and affects about 1.2 million people in the adult population in both the US and EU5. The UC market is estimated to reach USD9bn in 2023 showing the highest annual growth of 4.8%/year. On its side, the CD market should reach USD13bn in 2026.
Underlyings
Abivax SA

ABIVAX is a clinical stage biopharmaceutical company focusing on the discovery, development and commercialization of novel anti-viral compounds and therapeutic vaccines against severe and life threatening infectious diseases. ABIVAX utilizes RNA-protein interaction interference and cytotoxic TH1 cell amplification to generate therapies to help patients clear viruses like HIV, HBV and HPV. The Company's product pipeline comprises ABX 203, which is the therapeutic vaccine candidate obtained from the Centre for Genetic Engineering and Biotechnology, Cuba (CIGB) and is intended for patients with chronic hepatitis B disease; and ABX196, the adjuvant for therapeutic vaccines, among others.

Roche Holding Ltd

Roche Holding is a healthcare company. Co. operates in two Divisions, Pharmaceuticals and Diagnostics. Co.'s pharmaceuticals division is comprised of two business segments Roche Pharmaceuticals and Chugai. Co.'s pharmaceuticals division provides therapies including Cotellic, in combination with Zelboraf for advanced melanoma, and Alecensa for a specific type of lung cancer. Co.'s diagnostics division consists of four business areas: Diabetes Care, Molecular Diagnostics, Professional Diagnostics and Tissue Diagnostics. Co.'s diagnostics division provides in vitro diagnostic tests, used by healthcare providers to screen, diagnose and monitor therapies.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Eric Le Berrigaud

Victor Floc’h

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