(News Bulletin 247) – Credit Suisse on Monday raised its price target on Merck from $120 to $125, perceiving an “exceptional” opportunity before the American College of Cardiology.
The design office – which displays an “outperformance” opinion on the title – explains that this medical appointment will constitute a “leading catalyst” for the American biopharmaceutical group.
According to Credit Suisse, the two most anticipated presentations are those, scheduled for March 6, of phase 3 findings on sotatercept in the treatment of pulmonary arterial hypertension and phase 2 results on the cholesterol-lowering tablet PCSK9.
In his note, the analyst says he assigns a 90% probability of success to sotatercept for anticipated annual sales of around three billion dollars.
Regarding PCSK9, the professional now estimates that sales of the drug could reach five billion dollars, against a previous forecast of 1.3 billion dollars.
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