Merck KGaA: EU backing for new multiple sclerosis drug.
(CercleFinance.com) - European regulators have recommended approval of a new multiple sclerosis pill from Germany's Merck.
On Friday the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) announced its positive opinion for approval of Cladribine tablets for the treatment of relapsing forms of multiple sclerosis in patients with high disease activity.
"This is good news for Merck KGaA, especially as the drug has already been refused for approval by the EMA in 2011 which prompted us not to include any sales from the product in our valuation," Bryan Garnier says.
The broker is therefore raising its fair value on the share to 124 euros, from 122 euros, while maintaining its buy" rating.
Merck said the CHMP positive opinion is based on data including over 2,700 patients showing that Cladribine reduced the annualised relapse rate by 67% and the risk of 6-month progression by 82% versus placebo.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
On Friday the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) announced its positive opinion for approval of Cladribine tablets for the treatment of relapsing forms of multiple sclerosis in patients with high disease activity.
"This is good news for Merck KGaA, especially as the drug has already been refused for approval by the EMA in 2011 which prompted us not to include any sales from the product in our valuation," Bryan Garnier says.
The broker is therefore raising its fair value on the share to 124 euros, from 122 euros, while maintaining its buy" rating.
Merck said the CHMP positive opinion is based on data including over 2,700 patients showing that Cladribine reduced the annualised relapse rate by 67% and the risk of 6-month progression by 82% versus placebo.
Copyright (c) 2017 CercleFinance.com. All rights reserved.