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Lundbeck shares decline after Deutsche Bank downgrades stock to hold

Shares of H. Lundbeck A/S dropped over 6% after Deutsche Bank downgraded the stock to "hold" from "buy," citing concerns about the company's growth trajectory and lowering its price target from DKK 53 to DKK 44. Analyst Manos Mastorakis noted that despite strong performance earlier in 2024, recent developments, including the Capital Markets Day and the acquisition of Longboard Pharmaceuticals, have led to a reassessment of Lundbeck's valuation, with P/E ratios reflecting a significant decline. While some products like Rexulti and Vyepti show promise, the PACAP pipeline is no longer viewed as a major growth driver, prompting a more cautious outlook on the company's future.

regeneron faces sales uncertainty while madrigal reports strong drug launch results

Regeneron Pharmaceuticals' shares dropped nearly 10% as third-quarter sales of Eylea fell short of expectations, raising concerns about future sales amid competition. In contrast, Madrigal Pharmaceuticals reported strong sales of its MASH drug, Rezdiffra, totaling $62 million, significantly exceeding forecasts. UCB's Alzheimer’s drug trial showed promising secondary results despite missing its main goal, while AbbVie announced a partnership with EvolveImmune Therapeutics to develop cancer therapies.

ubs raises lundbeck target price to 49 dkk maintaining neutral stance

UBS has raised its target price for H Lundbeck A/S to DKK 49, maintaining a neutral stance on the stock. The Denmark-based pharmaceutical company specializes in developing treatments for brain diseases, including Alzheimer's, depression, and Parkinson's, with a diverse product portfolio.
09:54 16.10.2024

lundbeck acquires longboard pharmaceuticals for 2.6 billion dollars to enhance brain drug portfolio

Danish drugmaker Lundbeck has agreed to acquire Longboard Pharmaceuticals for $2.6 billion, paying $60 per share, a 54% premium. The deal aims to enhance Lundbeck's portfolio with bexicaserin, a potential treatment for developmental and epileptic encephalopathies, which could generate annual sales of $1.5 billion to $2 billion. The acquisition is expected to close by year-end, positioning Lundbeck for growth as it faces patent expirations on key products.
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