Shares of healthcare major Sanofi (NASDAQ:SNY) are rising upwards today after its candidate Dupixent which is being evaluated in a Phase 3 trial for the treatment of Chronic Obstructive Pulmonary Disease (COPD) met the primary and secondary endpoints.
Importantly, the drug could be the first biologic to treat COPD and showed a 30% reduction in exacerbations versus placebo as well as rapid and significant improvement in lung function.
Further, COPD remains the third largest cause of death globally and no new treatments have been approved for this indication in more than 10 years.
Overall, the Street has a $65 consensus price target on SNY implying a 33.2% potential upside in the stock. That’s on top of a 27% gain in the share price over the past six months.
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