NEW YORK (dpa-AFX Broker) - Analysts Jefferies initiated Formycon with a "buy" rating and a price target of 101 euros. The German developer of copycat biopharmaceutical products operates in a market that is expected to grow at an average annual rate of about 15 percent through 2030, twice as fast as the overall prescription drug market, analyst Brian Balchin wrote in a research note Monday. In its weight class, Formycon is the best-positioned pure-play biosimilars manufacturer that should outperform competitors thanks to its superior research and development capabilities, he said. Currently, Formycon has seven products with blockbuster potential in the pipeline, he said./gl/tih

Original study publication date: 05/21/2023 / 13:18 / ET

First disclosure of original study: 21.05.2023 / 19:01 / ET

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