Redeye initiates coverage of Iconovo, a Swedish medtech company specialising in developing inhalation drugs. The company offers multiple future income streams, where its generic version of AstraZeneca’s Symbicort and GSK’s Breo/Relvar are the main triggers for its coming sales ramp-up. Our fair value range suggests significant upside potential in the share, and we argue upcoming licensing deals and royalties will close the gap between our base case and current valuation.

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Redeye Initiates Coverage of Iconovo

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