Archive for December, 2014

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Net Neutrality: Treating the Symptoms Rather than the Disease

The debate on net neutrality is poised to intensify as the FCC considers the President’s request to regulate broadband as Title II common carriage and as it evaluates CMCSA’s proposed merger with TWC. We see merit on both sides of

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ABBV HCV Regimen Approved; Further Upward Revisions to Consensus Likely

ABBV’s HCV regimen was approved Friday with a clean label reflecting the safety and efficacy characteristics that would be expected based on published clinical trials List pricing of $83,319 is 12% below Harvoni; however we believe Harvoni sells at roughly

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SSR Health New Product Approval Portfolios & Supporting Data Update

Drug, biotech, and research-based spec pharma stocks tend to outperform their peers in the year or so before and after regulatory actions (‘PDUFA’ dates) on major new products, with a large portion of total risks being concentrated in the days

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The Bull Case for SNY’s Diabetes Franchise

2017 consensus for SNY’s US basal insulins fell from $9.9B to $7.5B after the company warned 2015 sales growth would be flat, citing price competition. We believe estimates have fallen too far, and imply an unstable pricing environment with significant

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Twitter: Black and Blue, but Read All Over

Twitter: Black and Blue, but Read All Over For the past year, TWTR has been whipsawed on the volatility of its monthly active user growth and the revolving door of the company’s management ranks. While many investors are skeptical, the

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US Ethylene Stocks – Too Early to Call

While it is always tempting to upgrade a stock or a sector when ones competitors are finally throwing in the towel, it is too early to call for US ethylene. The two most exposed ethylene stocks, LYB and WLK, have

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