Other groups with large disconnects between sellside and investor expectations include Beigene, Alnylam and Acceleron.
SEL-212 fails to beat Krystexxa in phase II, but why did Sobi pay $100m for the asset in June and then put it into phase III?
The number of novel, pivotal-stage projects in big pharma pipelines has plunged – just as Covid-19 put the brakes on deal making.
Launch phase is a challenging time for drug developers, so consider the likes of Biohaven, Esperion and, most recently, Urogen, as they brave locked-down markets.
January saw Aimmune receive an FDA approval for Palforzia, a first for peanut allergy, alongside decisions for Blueprint Medicines and Horizon Therapeutics.
The company plans to make the most of its head start with the Graves’ disease project teprotumumab, which is forecast to become its biggest product.