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Advanz Pharma : Ocaliva earnings risk can be absorbed; initiation with Buy recommendation
>The assumed phasing out of Ocaliva earnings post the recent adverse regulatory decision, which can be absorbed by the group, and that Ontario Teacher’s Pension Plan (OTPP) won’t become a shareholder are offset by other factors. Pipeline product launches in the next years, albeit economically not fully visible for us, and that there are no plans to re-lever the group, which was assumed if OTPP would become a partial shareholder, are positive factors. Moody’s just upgraded...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Markus Schmitt
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