(CercleFinance.com) – Sandoz jumps 5% in Zurich, propelled by an increase in recommendation at UBS from ‘neutral’ to ‘buy’ on the stock of the group of generic and biosimilar medicines, with a price target raised from 29, 1 to 36 Swiss francs.
In the summary of its research note, the broker says it is ‘more positive regarding access to biosimilars in the United States’ and highlights ‘recent performances which are not reflected in the current undemanding valuation’.
In addition, Sandoz announced a marketing authorization granted in the European Union for Pyzchiva, a product developed and registered by Samsung Bioepis, making it one of the first ustekinumab biosimilars approved in Europe. .
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