#AS­CO18: Ab­b­Vie con­vinces one top an­a­lyst that its $6B 'megablock­buster' Ro­va-T is worth­less

Ab­b­Vie $AB­BV has man­aged to con­vince at least one promi­nent an­a­lyst that Ro­va-T is ab­solute­ly worth­less, as the com­pa­ny’s vi­sion of a $5 bil­lion earn­er grad­u­al­ly dis­solves.

Ge­of­frey Porges at Leerink took a look at Ab­b­Vie’s for­mal pre­sen­ta­tion of its Trin­i­ty tri­al da­ta at AS­CO and came away shak­ing his head. His con­clu­sion:

The re­sults shown in the pre­sen­ta­tion were even worse than we had feared, and al­though Ab­b­Vie’s stock sold off much more than the val­ue of Ro­va- T af­ter the an­nounce­ment, we can’t help but re­gard the on­go­ing tri­als as large­ly fruit­less ex­er­cis­es. Fur­ther­more, the tox­i­c­i­ty sig­nal from the tri­al, along with the rel­a­tive­ly mar­gin­al ef­fi­ca­cy sig­nal, jus­ti­fies the com­plete elim­i­na­tion of all rev­enue as­so­ci­at­ed with Ro­va-T from our com­pa­ny fore­cast and val­u­a­tion for Ab­b­Vie. 

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