PARIS, September 8 (Reuters) – Sanofi is trading higher on Tuesday morning at the Paris Stock Exchange, supported by a note from UBS in which the fund manager raised its sales forecast for 2020 of Praluent, the flagship of the biopharmaceutical company against cholesterol.
At 10:45, the title was up 1.80% to 89.81 euros. Meanwhile, the CAC 40 index climbed 1.57% to 4621.27 points.
In a note, UBS, which considers Praluent as the largest product launch in the laboratory 2015-2016 period, raising its drug sales forecasts to fight against cholesterol to 6.8 billion euros in 2020 against 4.8 billion euros originally planned.
UBS in particular notes that the commercial potential of Praluent is undervalued, which should lead investors to seek this value, which currently suffers from a haircut.
Sanofi and its US partner Regeneron reported last week results Positive phase 3 study Praluent, a drug to fight against cholesterol.
UBS raised its recommendation from “neutral” to “buy” with a price target to 111 euros against 100 previously
(Raphael Bloch, edited by Jean-Michel Belot)
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