Ipsen: UBS remains Buy after FDA approval

(CercleFinance.com) - UBS confirms its Buy recommendation on the stock, with a target price of E 145, following the FDA's approval of Elafibranor in the United States.
This target price represents a potential upside of +18%

' Elafibranor has received US approval for CBP 2L. The timing and approval are in line with expectations' says UBS.

This indication was approved under a fast-track procedure on the basis of a decrease in alkaline phosphatase (ALP) levels. Improvement in survival or prevention of decompensation events in the liver have not been demonstrated.

Ipsen has demonstrated statistically significant improvements in biochemical response compared with AUDC alone. As such, it represents a long-awaited therapeutic option and the first new PBC drug in almost ten years.

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