Citi analyst Robyn Karnauskas says the "broad label" given yesterday to AstraZeneca's (AZN) Lynparza increases competition for Tesaro (TSRO).
Lynparza got a broad label in all ovarian cancer patients, which Karnauskas says she was not modeling for. The analyst suspects Clovis Oncology (CLVS) could also get a similar broad label. Nonetheless, she believes that with "better clinical data, better value, and dosing convenience," Tesaro's Zejula has a potential marketing advantage. Oncologic drugs with the best outcomes data eventually emerge market winners, Karnauskas tells investors in a research note.
The analyst keeps a Buy rating on Tesaro with a $216 price target.
The shares closed yesterday down $3.94 to $109.05.
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