Big pharma interest in immunology sector to grow in near to medium term - Jefferies

Prometheus Biosciences

17/04/2023 17:10

** Analysts at Jefferies say they continue to favor the biotech immunology space, with
upcoming trials data making it an attractive area for investors
    ** The analysts also say that it sees big pharma interest in the inflammation & immunology
(I&I) companies "to continue over the near to medium term",
    ** Merck  MRK.N , on Sunday, announced it would buy Prometheus Biosciences  RXDX.O  for
about $11 billion
    ** The brokerage expects big pharma focus on bowel disease and psoriasis, as blockbuster
drugs like Abbvie's  ABBV.N  rheumatoid arthritis drug Humira and J&J's  JNJ.N  psoriasis drug
Stelara go off patent
    ** Shares of I&I developers Roivant Sciences  ROIV.O  up 16.7%, Immunovant IMVT.O  up 7.3%,
Kymera therapeutics  KYMR.O  up 5.5%, Akero Therapeutics AKRO.O  up 5.2%; Ventyx Biosciences
 VTYX.O  up 9.9%; DICE therapeutics  DICE.O  up 7.1%, RAPT Therapeutics  RAPT.O  up 9.2%, and
Celldex Therapeutics  CLDX.O  up 8.5%
    ** Nasdaq Biotechnology Index  .NBI  up 1% this year

 (Reporting by Nandhini Srinivasan in Bengaluru)
 ((nandhini.srinivasan@thomsonreuters.com))