Sun Pharma deal for lerodalcibep worldwide (ex US, China) seen lifting revenue potential
Axis and DAM Capital say Sun Pharma’s exclusive licensing with LIB Therapeutics for lerodalcibep could generate over $700m in peak sales; shares rose up to 1.32% and analysts rate it a buy with median target 2,150 rupees.
Axis Capital, which rates the stock "add" with a target price of 2,100 rupees, said Sun Pharma's newly licensed cholesterol drug could deliver more than $700 million in peak sales. Sun Pharma said it has signed an exclusive agreement with LIB Therapeutics to manufacture and commercialise lerodalcibep worldwide, excluding the US and China. The financial terms were not disclosed. Axis said the deal gives Sun Pharma an entry into the fast-growing cholesterol-drug market and could benefit from the company's wider international reach after its acquisition of US-based Organon.
DAM Capital, which has a target price of 2,269 rupees and rates the stock "buy", said Sun Pharma could use Organon's established cardiovascular business outside the US to speed up the rollout of lerodalcibep. 30 rupees. LSEG-compiled data showed the stock was rated "buy" on average by 31 analysts, with a median target price of 2,150 rupees. 75% year to date.