Biogen: Jefferies still a buyer, despite a biosimilar

(CercleFinance.com) - Jefferies maintains its "buy" rating on Biogen shares, along with its target price of $350, despite the US FDA's approval of a biosimilar of Tysabri (the biotech group's flagship drug), a biosimilar proposed by Sandoz.


The broker says that this competition could lead to a shortfall of around $500m in 2024, which could be offset by new launches of Leqembi - a key short-term driver for the stock - and the recent acquisition of Reta.


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