Shire’s Over $4b Pipeline Not Reflected in Shares: Deutsche Bank
2014-06-10 07:46:17.571 GMT
By Allison Connolly
June 10 (Bloomberg) -- Market confidence in Shire’s long-
term prospects is considerably lower than in its more immediate
outlook, Deutsche Bank says in note dated June 9.
* Estimates products with peak annual sales potential of $4b
could be on market by 2018; with additional >$1b potentially
coming from two rare disease programs around 2019
* Raises PT to 4,350p vs 3,920p, maintains buy
* Says lifitegrast has highest commercial potential; ests.
sales of ~$450m by 2018 vs consensus est. <$200m due to
increased confidence in approvability, differentiated
profile
* Expects co. to be highly active in M&A, w/ borrowing
capacity of $12b and debt-free by next year
* NOTE: June 5, Shire’s Best Defense From Takeover Is Going on
Offense: Real M&A
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To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
Gaurav Panchal
2014-06-10 07:46:17.571 GMT
By Allison Connolly
June 10 (Bloomberg) -- Market confidence in Shire’s long-
term prospects is considerably lower than in its more immediate
outlook, Deutsche Bank says in note dated June 9.
* Estimates products with peak annual sales potential of $4b
could be on market by 2018; with additional >$1b potentially
coming from two rare disease programs around 2019
* Raises PT to 4,350p vs 3,920p, maintains buy
* Says lifitegrast has highest commercial potential; ests.
sales of ~$450m by 2018 vs consensus est. <$200m due to
increased confidence in approvability, differentiated
profile
* Expects co. to be highly active in M&A, w/ borrowing
capacity of $12b and debt-free by next year
* NOTE: June 5, Shire’s Best Defense From Takeover Is Going on
Offense: Real M&A
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
Gaurav Panchal