European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

<ul>
<li>Novartis offers an agreed €68/share, 89% premium, for <a href="https://www.smartkarma.com/entities/morphosys-ag-91f7c8f8-f418-4db5-953e-ec2206d64e67" target="_blank" data-smartkarma-citation="entities:27120:1" rel="noopener">MorphoSys AG (MOR US)</a> in a bet that pelabrisib could become a blockbuster to treat myelofibrosis (possibly reaching peak sales of $1.1-1.5 billion).</li>
<li>Considering that the shares of Morphosys were trading in the low teens in November, I believe that shareholders will be happy to part with the shares.</li>
<li>Spread (gross/annualised) is 4.65%/18.09% (assuming settlement by 20 May). Novartis believes pelabrisib is definitely worth the risk. <strong>Long.</strong>
</li>
</ul>


Novartis offers an agreed €68/share, 89% premium, for MorphoSys AG (MOR US) in a bet that pelabrisib could become a blockbuster to treat myelofibrosis (possibly reaching peak sales of $1.1-1.5 billion).
Considering that the shares of Morphosys were trading in the low teens in November, I believe that shareholders will be happy to part with the shares.
Spread (gross/annualised) is 4.65%/18.09% (assuming settlement by 20 May). Novartis believes pelabrisib is definitely worth the risk. Long.



Novartis Strikes for Possible Myelofibrosis Blockbuster

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Water Tower Research

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Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<ul><li>We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.</li><li>The short holiday week saw another controversial name picked for NIH head, PSTX was acquired by RHHBY, AMGN underwhelmed with obesity data, and Medicare proposed to cover LLY and NVO obesity drugs.</li><li>In addition, SRPT filled its pipeline with ARWR assets, BHVN’s poor SMA results benefited SRRK, and MRK expanded its PAH drug benefit.</li></ul>

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.The short holiday week saw another controversial name picked for NIH head, PSTX was acquired by RHHBY, AMGN underwhelmed with obesity data, and Medicare proposed to cover LLY and NVO obesity drugs.In addition, SRPT filled its pipeline with ARWR assets, BHVN’s poor SMA results benefited SRRK, and MRK expanded its PAH drug benefit.

Biopharma Week in Review - December 2, 2024

<ul><li>We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.</li><li>Last week, the CDC and CMS picks aligned with President- elect Donald Trump’s agenda, while the FDA choice felt like a compromise.</li><li>NTLA had competitive biomarker data in ATTR-CM but was still behind ALNY and BBIO (approved late Friday). </li></ul>

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.Last week, the CDC and CMS picks aligned with President- elect Donald Trump’s agenda, while the FDA choice felt like a compromise.NTLA had competitive biomarker data in ATTR-CM but was still behind ALNY and BBIO (approved late Friday). 

Biopharma Week in Review - November 25, 2024

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>Alteogen has signed an exclusive license agreement with Daiichi Sankyo to develop and commercialize a subcutaneous version of Enhertu. Volpara won $7.3M contract from the U.S. Defense Health Agency.</li>
<li>Santen Pharmaceutical has rolled out Rhopressa ophthalmic solution in South Korea for the treatment of open-angle glaucoma or ocular hypertension.</li>
<li>Sun Pharmaceutical’s launch of alopecia drug Leqselvi in the U.S. will be delayed due to litigation with Incyte. Recently, a U.S. District Court decided to grant a preliminary injunction.</li>
</ul>


Alteogen has signed an exclusive license agreement with Daiichi Sankyo to develop and commercialize a subcutaneous version of Enhertu. Volpara won $7.3M contract from the U.S. Defense Health Agency.
Santen Pharmaceutical has rolled out Rhopressa ophthalmic solution in South Korea for the treatment of open-angle glaucoma or ocular hypertension.
Sun Pharmaceutical’s launch of alopecia drug Leqselvi in the U.S. will be delayed due to litigation with Incyte. Recently, a U.S. District Court decided to grant a preliminary injunction.


APAC Healthcare Weekly (Nov 10)- Alteogen, Santen Pharmaceutical, Beigene, Sun Pharmaceutical

<ul><li>We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.</li><li>Last week, Medicare posted the first negotiated prices for Part D drugs, an additional 11% discount by our estimate.</li><li>Mpox declared a global emergency, as the SIGA antipox treatment drug failed study, but mpox vaccine makers BVNRY and GOVX got a boost. </li></ul>

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.Last week, Medicare posted the first negotiated prices for Part D drugs, an additional 11% discount by our estimate.Mpox declared a global emergency, as the SIGA antipox treatment drug failed study, but mpox vaccine makers BVNRY and GOVX got a boost. 

Biopharma Week in Review - August 19, 2024

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Incyte Corp is a biopharmaceutical company. The Company discovers, develops and commercializes proprietary small molecule drugs, primarily used in oncology.

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Incyte Corp (INCY US)

Novartis Strikes for Possible Myelofibrosis Blockbuster

Novartis offers premium for MorphoSys AG in a bet on pelabrisib as a potential blockbuster for myelofibrosis treatment. Shareholders are likely to...

Jesus Rodriguez Aguilar

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The short holiday week saw another controversial name picked for NIH head, PSTX was acquired by RHHBY, AMGN underwhelmed with obesity data

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Last week, the CDC and CMS picks aligned with President- elect Donald Trump’s agenda, while the FDA choice felt like a compromise.

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Water Tower Research

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Novartis Strikes for Possible Myelofibrosis Blockbuster

​Novartis offers premium for MorphoSys AG in a bet on pelabrisib as a potential blockbuster for myelofibrosis treatment. Shareholders are likely to...

Jesus Rodriguez Aguilar

Biopharma Week in Review - December 2, 2024

The short holiday week saw another controversial name picked for NIH head, PSTX was acquired by RHHBY, AMGN underwhelmed with obesity data

Water Tower Research

Biopharma Week in Review - November 25, 2024

Last week, the CDC and CMS picks aligned with President- elect Donald Trump’s agenda, while the FDA choice felt like a compromise.

Water Tower Research

APAC Healthcare Weekly (Nov 10)- Alteogen, Santen Pharmaceutical, Beigene, Sun Pharmaceutical

​Alteogen partners with Daiichi Sankyo for Enhertu, Volpara secures $7.3M contract, Santen launches Rhopressa in South Korea, Sun Pharma's Leqselvi...

Tina Banerjee

Biopharma Week in Review - August 19, 2024

PFE/BNTX COVID-flu vaccine missed on one endpoint, extending MRNA’s lead and allowing SNY/NVAX to catch up. SYRS ended up futile on AML.

Water Tower Research

Novartis offers premium for MorphoSys AG in a bet on pelabrisib as a potential blockbuster for myelofibrosis treatment. Shareholders are likely to...

Alteogen partners with Daiichi Sankyo for Enhertu, Volpara secures $7.3M contract, Santen launches Rhopressa in South Korea, Sun Pharma's Leqselvi...