券商观点:默克眼科药与罗氏疗法效果相当,分析师谨慎

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BUZZ-券商观点:默克眼科药与罗氏疗法效果相当,分析师谨慎

10月12日 - ** 默克公司(Merck, MRK.N)周六表示,在针对糖尿病黄斑水肿患者的中后期临床试验中,其试验性眼科药物雷米格罗米格(remigromig)在改善视力方面与罗氏公司(ROPC.S)的卢森蒂斯(Lucentis)效果相当。糖尿病黄斑水肿是一种与糖尿病相关的疾病,可能导致视力丧失

** 接受雷米格罗米格治疗的患者在一年后,标准视力测试结果提高了8.7至9.1个字母,而使用卢森蒂斯的患者提高了11.8个字母,这达到了该研究的非劣效性目标

并非明确的产品胜利?

** 杰富瑞(Jefferies)(维持“买入”评级,目标价:176美元) 指出,该研究数据“不如初步结果令人印象深刻”,理由包括视力改善幅度在数值上逊于卢森蒂斯(Lucentis) (link)、缺乏既往接受过治疗患者的亚组数据,以及治疗中断率较高

** BMO资本市场(“跑赢大盘”,目标价:170美元) 表示该研究证实了疗效,但“结果尚不足以证明其具有显著差异性”,并补充道“并非每笔业务发展交易 (link) 都能产生商业上成功的资产”

** 巴克莱(“中性”,目标价:150美元) 表示,该研究未显示雷米格罗米格(remigromig)在对抗VEGF疗法反应不足的患者中,或与该类疗法联合使用时具有优势,因此其商业差异化尚未得到证实

** 杰富瑞(Jefferies)补充称,雷米格罗米格有助于丰富默克的研发管线,但“并非一款明确的畅销产品”,并将该药物的风险调整后销售额预测从7.5亿美元下调至约3亿美元

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