Galderma rises on second FDA approval for Nemluvio
** Shares of Galderma GALD.S rise as much as 4.7% after the Swiss dermatology company said on Friday its Nemluvio (nemolizumab) treatment had received FDA approval for atopic dermatitis (eczema)
** "We see this second approval as an important de-risking event for what will be an important growth driver for the company," J.P.Morgan says, referring to the FDA approval in August for the same drug in treating prurigo nodularis
** JPM analysts see Nemluvio global peak sales of around $1.6 bln
** "We forecast $2.1bn WW peak Nemluvio sales, largely $1.5bn in atopic dermatitis, for CHF23/share NPV (23%)" - Jefferies
** Jefferies analysts say the focus will likely now shift to upcoming EU approvals in H1 of 2025
** Galderma reiterates its guidance for nemolizumab peak sales of more than $2 billion beyond 2023-2027, expecting it to approach "blockbuster" net sales run-rate by end-2027
** The shares were up 3.1% at CHF 93.03 by 0932 GMT, among top performers on the pan-European STOXX 600 index .STOXX
Reporting by Marleen Kaesebier
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