FDA Declines To Approve Pfizer Biosimilar Of Roche’s Cancer Drug – CWEB.com
U.S. regulators declined to approve the company’s biosimilar of Roche’s blockbuster treatment for breast cancer, Herceptin.
Biologics are produced from living cells. They are very difficult to copy with exact precision. Generic type versions of these drugs are called biosimilars.
The fate of Pfizer (PFE) is in the spotlight. Challenging times ahead for the company as “Merck Sells Consumer Business”. Pfizer stated last October it was reviewing strategic alternatives for its consumer healthcare unit and is expected to make a decision in 2018.
Pfizer (PFE) chairman and CEO Ian Read talked with Citi Group analyst Andrew Baum and stated that an acquisition of Bristol-Myers Squibb (NYSE:BMS) is off the table for now.
Other contenders for Pfizer to acquire could be I think Sangamo Therapeutics (NASDAQ:SGMO), Celgene (NASDAQ:CELG), and Madrigal Pharmaceuticals (NASDAQ:MDGL).
Celgene dominates the market with the blood cancer,Revlimid and Pomalyst. Sangamo Therapeutics in common with Bristol-Myers Squibb is that is s already a partner with Pfizer. Pfizer could easily acquire Sangamo on the cheap for them. The small biotech’s market cap is $1.6 billion. Even though they don’t have a pipeline candidate beyond early stage clinical testing, Sangamo has been in the limelight from big drug makers with the leadership in zinc finger nuclease (ZFN) gene-editing technology. Pfizer may want to hold out and see how the clinical studies progress. However, buying Sangamo sooner than later could give Pfizer a massive long-term advantage as gene therapies gain traction.
Madrigal Pharmaceuticals’ has a smaller market than Sangamo. An acquisition of the Sangamo would be relatively pretty easy for Pfizer. Buying Madrigal would give Pfizer and future with a promising drug for treating non-alcoholic steatohepatitis (NYSEARCA:NASH). The drug ready to advance to late-stage clinical development.
CWEB Analyst’s have issued a Buy Rating for Pfizer (PFE), and a Price Target of $60 within 12 months.
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