After Sandoz (SDZNY) announced that it has reached agreement with Amgen (AMGN) to resolve all patent disputes between the two companies relating to the FDA-approved Sandoz denosumab biosimilars, Jefferies analyst Michael Yee said the news removes any overhang of an early launch in 2024, which is a positive given that Sandoz had publicly said a 2024 “at risk” launch was possible. Most models were already in accordance for 2025, so the settlement timeline is “generally in line with consensus,” added the analyst, who has a Buy rating and $375 price target on Amgen shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMGN:
- AMGN Earnings this Week: How Will it Perform?
- Options Volatility and Implied Earnings Moves This Week, April 29 – May 02, 2024
- Amgen announces imminent submission of MAA to EMA for teprotumumab
- Amgen to present Tezspire Phase 2a COPD data at ATS 2024
- Amgen price target lowered to $360 from $370 at TD Cowen