Latest news with #EvanSeigerman
CNBC
a day ago
- Health
- CNBC
Health care sector has a lot of headwinds, says BMO's Evan Siegerman
Evan Seigerman, BMO head of healthcare research, joins 'Power Lunch' to discuss the challenge of picking health care stocks, who else M&A in the space implicates and much more.
Yahoo
a day ago
- Business
- Yahoo
M&A is 'lifeblood' of biopharma: Analyst on Sanofi-Blueprint deal
The American Society of Clinical Oncology (ASCO) is kicking off its annual meeting in Chicago this week, with all eyes on the latest developments and acquisition deals in the pharmaceutical space. Sanofi (SNY, is set to buy Blueprint Medicines (BPMC) for over $9 billion, while Bristol-Myers Squibb (BMY) plans to license a cancer drug from BioNTech (BNTX). BMO Capital Markets managing director of biopharma equity research Evan Seigerman comments on the M&A activity and regulatory oversight in the biopharma space. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Big Pharma deals coming out as Global Giants attend the American Society of Clinical Oncology's annual meeting in Chicago. Sanofi agreeing to buy immunology company blueprint medicines for over $9 billion. Meanwhile, Bristol Myers Squibb will pay Biontech up to $11 billion to license a next generation cancer drug. Joining us now with more on what's to come out of this big Pharma event, we've got Evan Seegerman, BMO Capital Markets managing director of Biopharma Equity Research. Evan, great to speak with you here. I do want to start on this deal for over $9 billion here. What does that signal for you for the rest of the sector? So I don't cover Sinofi, but I can talk more broadly about what it means for the space and it's great. We love to see M&A. There's been a bit of a dearth in big M&A and this is a nice sizable deal. I know a lot of the companies that I cover talk about doing deals in the 10 to 15 billion dollar range and it signals a few things. One, that there are biotech companies producing great data, but two, that the big players are comfortable, you know, diving in a little deeper, you know, spending $9 billion, not just spending $500 million. So I like to see that because that is the life blood of the sector. Evan, to what extent do you believe some of these deals are either reactionary or trying to front run any potential moves from the administration on policy? Hard to say. I mean, a lot of these biopharma companies that I cover have holes in their pipeline. You know, look at Merck, for example, Ketruda goes off patent at the end of the decade, they're going to get hit by the IRA at some point. So they really need to, you know, backfill that. Same thing with Bristol, which is why they decided to license in the asset from Biontech today. They also highlight not in the oncology space, but Regeneron had a huge move last week to the downside and opting into in license an obesity assets. So, you know, more moves than just the Sinofi asset you have the Sinofi deal you had mentioned. And when you think about regulation more broadly on the sector over the course of the next four years, how do you think that it's going to net out in terms of how that regulation may impact this kind of deal making going forward? For sure. So I think generally the FTC right now is a little bit more deal friendly, but who knows? Um in terms of FDA, it seems that, you know, even with all the talk, it is a lot of, you know, um business as usual, especially when we talk to the companies that we cover. A lot of their interactions haven't really changed. That's more headline risk. Um I think the big unknown is any sort of drug pricing reform. We had the EO a few weeks ago. Um folks were concerned that that could lead to what's called most favored nations pricing in Medicare. Still haven't seen much on that front. I'm you know, of the belief that it doesn't end up amounting to much, probably more headline risk than anything at this point.
Yahoo
a day ago
- Business
- Yahoo
M&A is 'lifeblood' of biopharma: Analyst on Sanofi-Blueprint deal
The American Society of Clinical Oncology (ASCO) is kicking off its annual meeting in Chicago this week, with all eyes on the latest developments and acquisition deals in the pharmaceutical space. Sanofi (SNY, is set to buy Blueprint Medicines (BPMC) for over $9 billion, while Bristol-Myers Squibb (BMY) plans to license a cancer drug from BioNTech (BNTX). BMO Capital Markets managing director of biopharma equity research Evan Seigerman comments on the M&A activity and regulatory oversight in the biopharma space. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
Globe and Mail
3 days ago
- Business
- Globe and Mail
BMO Capital Markets Reiterates ‘Buy' Rating on Eli Lilly Stock (LLY)
BMO Capital Markets (BMO) has reiterated its Buy-equivalent outperform rating on Eli Lilly (LLY) stock with a $900 price target on the shares. Confident Investing Starts Here: Analyst Evan Seigerman reaffirmed his strong outlook for LLY stock after the U.S. pharmaceutical giant announced its plans to acquire privately held SiteOne Therapeutics for $1 billion in a deal that will give Eli Lilly greater access to non-opioid pain medication. Seigerman says the purchase of SiteOne is a smart strategic move on the part of Eli Lilly that will bolster its portfolio of pain management medications, positioning it to better compete with companies such as Vertex (VRTX). SiteOne's leading pain drug is currently in a Phase 2 clinical trial. Committed to Pain Management 'Lilly is expanding its presence in pain and looking to compete with the likes of Vertex with this announced deal to acquire privately held SiteOne therapeutics for as much as $1B,' wrote Seigerman in a note to clients about Eli Lilly. BMO Capital Markets adds that the deal to buy SiteOne underscores Eli Lilly's commitment to the pain treatment market, where it has long had a presence. By integrating SiteOne's products into its own line-up, Eli Lilly should gain a competitive edge in the pain management space, said Seigerman. Is LLY Stock a Buy? The stock of Eli Lilly has a consensus Strong Buy recommendation among 18 Wall Street analysts. That rating is based on 16 Buy, one Hold, and one Sell recommendations issued in the last 12 months. The average LLY price target of $1,003.14 implies 34.82% upside from current levels. Disclaimer & Disclosure Report an Issue
Business Insider
4 days ago
- Business
- Business Insider
BMO Capital Remains a Buy on Vertex Pharmaceuticals (VRTX)
BMO Capital analyst Evan Seigerman reiterated a Buy rating on Vertex Pharmaceuticals (VRTX – Research Report) today and set a price target of $557.00. The company's shares closed today at $441.97. Confident Investing Starts Here: According to TipRanks, Seigerman is a 4-star analyst with an average return of 3.7% and a 43.73% success rate. Seigerman covers the Healthcare sector, focusing on stocks such as Bristol-Myers Squibb, Novo Nordisk, and Vertex Pharmaceuticals. In addition to BMO Capital, Vertex Pharmaceuticals also received a Buy from UBS's Eliana Merle in a report issued yesterday. However, today, Barclays maintained a Hold rating on Vertex Pharmaceuticals (NASDAQ: VRTX).
