FDA Approves Alexion's Blockbuster Drug Soliris for NMOSD; Shares Undervalued With $169 FVE
On June 27, Alexion Pharmaceuticals received approval from the U.S. Food and Drug Administration for Soliris for a subset of patients diagnosed with neuromyelitis optica spectrum disorder, a rare, chronic disorder of the brain and spinal cord. With no other approved treatments, NMOSD fits well with Alexion's strategy of targeting rare indications of high unmet need. We are maintaining our fair value estimate of $169 per share, given the positive late-stage clinical results published earlier this...Alexion Pharmaceuticals is a biopharmaceutical company serving patients and families affected by rare diseases through the discovery, development and commercialization of therapies. The company has developed and commercialized two complement inhibitors to treat patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome, as well as the complement inhibitor to treat anti-acetylcholine receptor antibody-positive generalized myasthenia gravis and neuromyelitis optica spectrum disorder in patients who are anti-aquaporin-4 antibody positive. In addition, the company has two enzyme replacement therapies for metabolic disorders, hypophosphatasia and lysosomal acid lipase deficiency.
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