Having a hard time keeping track of all the competitors for Gilead Sciences’ (GILD) Sovaldi? You’re not the only one, so RBC Capital Market’s Michael Yee and team provide a handy table (click for a larger one) listing the companies with drugs in the works, including AbbVie (ABBV), Bristol-Myers Squibb (BMY), Achillion Pharmaceuticals (ACHN) and Merck (MRK):
Yee also explains why it’s so important to keep up with the competition:
Gilead is a buy here on pullback and for relief rally into approval and bounce in scripts. (1) consensus widely expects FDA approval of “all-oral” by this Friday 10/10 and around a $95k price for 12 weeks which is great and implies cheap $65k for 8 week regimens which should be in the label; it already got (+) EU CHMP recommendation in Sep. (2) Q3 earnings we said Sovaldi should meet consensus $3B WW and there is probably a lot of inventory drawdown ahead of all-oral; this should be expected and doesn’t matter if new all-oral is launching now, (3) consensus expects AbbVie approval by mid-Dec and we predict a $80-90k price i.e. slightly lower than GILD at 12-weeks with around expected 20% share of scripts by H2:15.
Shares of Gilead Sciences have dropped 0.4% to $104.74 at 1:02 p.m., while Achillion Pharmaceuticals has dipped 0.1% to $9.96, Merck has fallen 1.3% to $58.78 and Bristol-Myers Squibb has declined 1.9% to $50.15.
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