Ipsen: UBS still a buyer after FDA approval

(CercleFinance.com) - UBS confirms its Buy recommendation on the stock, with a target price of E145, following the FDA's approval of Elafibranor in the US.
This target price represents 18% upside potential;

UBS says that "Elafibranor received US approval for 2L PBC. Timing as expected".

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 said that "Iqirvo demonstrated statistically significant improvements in biochemical response compared to UDCA alone. Iqirvo is therefore a much-needed treatment option and the first new medicine for PBC in nearly a decade".


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