GENFIT | BUY, FV EUR65 |NASH Is King
Genfit a future leader in NASH. Genfit is due to release phase III data for elafibranor in NASH next year. The market is untapped with no available drugs and could reach USD10-15bn. Following Phase III results, elafibranor is set to be part of the first wave of drug launches as its main competitor Ocaliva (Intercept). However, the later has some side effects that we consider incompatible with chronic treatment and for this reason, we expect elafibranor to rapidly take the majority of prescriptions. The speed of this uptake will depend on changes in NASH diagnosis, which currently involves biopsy that is not convenient for routine use. Genfit is developing a non-invasive test that will hopefully be on the market at the same time as elafibranor.Genfit is a biopharmaceutical company engaged in the discovery and development of drugs and biomarkers in therapeutic areas of high unmet need due to the lack of effective treatments or diagnostic tools and/or due to the increasing number of patients worldwide. Co. concentrates its research and development efforts to participate in the commercialization of treatment solutions and diagnostic tools to fight certain metabolic, inflammatory, autoimmune or fibrotic diseases affecting especially the liver (such as non-alcoholic steatohepatitis or "NASH").
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