Sirtex Medical Flags Lower Growth but 2017 Data Still Key to Commercial Prospects; FVE Cut to AUD 28
We have reduced our fair value estimate for no-moat Sirtex Medical to AUD 28 per share from AUD 35, following the group's disappointing trading update. The reduction in our fair value estimate reflects increasing competition in metastatic colorectal cancer from new agents, leading to trimming of our sales trajectory over the next five years. We have lowered our incremental market penetration assumptions, resulting in a five-year revenue CAGR of 26% and a 23% share of the addressable market by 20...Sirtex Medical is a global life-sciences company based in Australia. Co. is engaged in developing and delivering effective oncology treatments using novel small particle technology. Co.'s main product is a targeted radioactive treatment for liver cancer called SIR-Spheres® Y-90 resin microspheres. SIR-Spheres Y-90 resin microspheres are a medical device used in interventional oncology and delivered to the liver via Selective Internal Radiation Therapy.
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