Gilead - Complera Approval - Positive Long Term Impact
Approval of Complera (GILD’s Truvada + Tibotec’s Edurant) reiterates GILD’s leadership in offering the best treatment options against HIV infection. With the current economic turmoil, approval of once-daily Complera (formerly Fixed Dose Combination drug) impact may be incremental or go unnoticed. New combination of pills could offer many advantages over Atripla. We recommend GILD as a value buy as it is currently trading at lowest multiples among the peers. Based on MP’s sum-of-the-part valuation, the NPV of marketed products offers a very decent upside from the current price and a long term growth opportunity along with a diversified pipeline. For more details on pipeline and upcoming catalysts, please read our report released on 12th August, 2011, titled – “Complera Approval - Positive Long Term Impact”
COMPANIES MENTIONED
Gilead
Gilead
