Wyeth and Elan Trade
Both stocks of Wyeth (WYE) and Elan (ELN) spiked on Monday after news broke of a new Alzheimer's drug. Kris Jenner, M.D., lead portfolio manager at T. Rowe Price Health Science Fund joined the "Fast Money" crew to discuss his take on the news. Jenner explained that the drug AAB-001 could be the most advanced drug for Alzheimer's and information will come out over the next 3 months that will lead to the probability of the drug succeeding in phase 3 trials. He went on to explain that drug could be a blockbuster with a market of 7 million Alzheimer's patients in the U.S and Western Europe and the costs for the therapy at $10,000 a year. Jenner said the chances are 50/50 the drug will be approved. The companies that could benefit from the news are Elan (ELN) and Wyeth (WYE) with Elan having the biggest potential upside. Najarian advised investors to look at Myriad (MYGN) and Eli Lilly (LLY), which also have Alzheimer's drugs in their pipelines
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment