{
Judah Frommer

People

}
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Morgan Stanley highlights Empaveli's potential amid Fabhalta's FDA approval for C3G

Morgan Stanley analyst Judah Frommer highlights that Novartis' Fabhalta has received FDA approval for C3G, but its restricted label leaves room for Apellis' Empaveli to stand out. Fabhalta is indicated for adults to reduce proteinuria, with no established outcomes for post-transplant patients. The firm believes Empaveli can lead in C3G/IC-MPGN, projecting peak U.S. revenue of $550M if its sNDA is approved, contributing $12 to Apellis' $30 price target.
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Morgan Stanley Novartis AG USA Judah Frommer
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16:41 22.03.2025
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