The Medicines Company (MDCO) Additional Phase 2 Data Confirms Market Potential - Guggenheim
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Guggenheim analyst Louise Chen weighed in on The Medicines Company (NASDAQ: MDCO) following additional data on inclisiran, which according to the analyst, confirms the market potential.
Chen commented, "MDCO (BUY, $26.46) presented more detailed Phase 2 ORION-1 data for Inclisiran (ALN-PCSsc) at AHA after reporting positive top-line results earlier this year. We spoke with the company after the data release. The data confirmed the safety profile and showed LDL reduction at 3 months (mean 45%, max 76%) and 6 months (mean 43%, max 81%), which is in line with PCSK9s that are already on the market. KOLs at AHA were impressed by the consistency of response vs. mabs, which have more variability. MDCO's data supports our thesis that its superior dosing (every 3 to 6 months vs. once a month or once every two weeks for approved drugs) and similar efficacy could mean significant market share and blockbuster potential if approved, even though two drugs launched last year. We would also note that Amgen reported more detailed data from its GLAGOV study, underscoring that PCSK9s can also reduce plaque in the arteries, which should drive further uptake of this class of drugs."
Shares of The Medicines Company closed at $36.46 yesterday.
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