(CercleFinance.com) – Merck shares recorded the largest increase in the Dow Jones index on Wednesday and reached their highest historical level after the green light from American health authorities for the prescription of its Winrevair (sotatercept) to treat pulmonary arterial hypertension.
Around 11:45 a.m. (New York time), the biopharmaceutical group’s stock climbed 3.8% after rising above $133, a record in the laboratory’s stock market history.
‘The approval of sotatercept represents the best possible scenario insofar as it is not accompanied by any particular conditions,’ emphasize Bank of America analysts.
‘Its dosage is not accompanied by any warning (‘black box’ due to the black border surrounding it on the medicine box, Editor’s note) nor by REMS (evaluation and limitation of risks) or functional restriction’, adds BofA.
The design office adds that the drug, administered subcutaneously, could be used by patients at home, provided that it is accompanied by supervision by a healthcare professional.
While it also welcomes the unreserved validation of the product, contrary to the fears that may have been expressed by investors, UBS expects a successful launch for sotatercept, which it sees reaching sales of 650 million dollars. from 2024.
The intermediary thus evaluates the value of sotatercept in pulmonary arterial hypertension alone at $22 per share, based on annual sales expected at $8.2 billion ultimately.
Jefferies also says it expects successful marketing, ultimately anticipating annual sales of $11 billion for the drug, which leads it to raise its price target from $140 to $145 on the stock.
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