Pharmaceuticals & Health Care – Biotechnology: Second
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Pharmaceuticals & Health Care – Biotechnology: Second

Guillaume Van Renterghem, Martin Wales & team

UBS

UBS reclaims second place after a year in the runner-up position. Led by newcomer Guillaume van Renterghem and Martin Wales, both of whom are based in London, the three-member team reports on 28 stocks. Switzerland’s Actelion, which climbed 37.9 percent in 2012, remains a favorite. The analysts are encouraged by the prospects for macitentan in the treatment of pulmonary arterial hypertension; they believe it could be a viable successor to the company’s flagship treatment Tracleer, which goes off-patent in 2015. “We are sticking with our buy call anticipating approval and successful launch of the drug in 2013,” Wales explains. Approval is only half the battle, he notes; manufacturers still must deliver strong sales. “Approved drugs face further European price pressure, although we anticipate U.S. pricing to be stronger, benefiting from a relatively favorable pricing environment,” Wales explains. “The regulatory scrutiny on drug manufacturing will be high in 2013, and mergers and acquisitions are also likely to continue as pharmaceuticals companies look to replenish drug pipelines.” — Leslie Kramer


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