Following yesterday’s news of a Complete Response Letter from the FDA in relation to VR315 / generic Advair®, we have delayed expected US approval and launch of the fixed-drug combination to late 2018e. The negative share price reaction to the news was in line with the expectations outlined in our note “VR315 risk outweighs longer-term potential” on 24th April. At the current level, we consider the stock fairly valued: we upgrade our recommendation from Sell to Hold.
12 May 2017
N+1 Singer - Vectura Group - Fairly valued post FDA setback: upgrading to Hold
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N+1 Singer - Vectura Group - Fairly valued post FDA setback: upgrading to Hold
- Published:
12 May 2017 -
Author:
Dr Jens Lindqvist -
Pages:
3
Following yesterday’s news of a Complete Response Letter from the FDA in relation to VR315 / generic Advair®, we have delayed expected US approval and launch of the fixed-drug combination to late 2018e. The negative share price reaction to the news was in line with the expectations outlined in our note “VR315 risk outweighs longer-term potential” on 24th April. At the current level, we consider the stock fairly valued: we upgrade our recommendation from Sell to Hold.