Zuiderbuur schreef op 14 april 2015 21:40:
blogs.barrons.com/stockstowatchtoday/...Deutsche Bank’s Robyn Karnauskas and team see a potential catalyst in AbbVie’s partnership with Galapagos (GLPYY) on a treatment for rheumatoid arthirtis:
AbbVie & Galapagos are expected to release data for their JAK-1, Filgotinib in mid-April (DARWIN-1) in Rheumatoid Arthritis (RA). We believe this is a major data catalyst for AbbVie, as it will help investors assign some value to the pipeline. We highlight this is a robust 599 pts trial. Therefore, investors should be able to assign at least 25-50% upon success. This calculates to ~3-5% ($1.5-$3/sh) upside potential to CMP. We believe that a Placebo-adjusted ACR20 of ~35% will likely be considered good data, as that is what Eli Lilly’s (LLY) Baricitinib showed in a similar trial. We see limited downside on failure as this asset is not in street valuations.