Net net, not so bad for Zealand ...BUY, Fair Value DKK160 vs. DKK168 (+7%)
At first glance, the worsening market conditions for injectable diabetes drugs in the US is not good news for all players involved in this field and to some extent what is not good for Sanofi is not good for Zealand as its partner. But after carefully looking at the situation, and after discounting Lyxumia further, we think that Sanofi is more dependent on LixiLan than ever. So any further drop in the share price will have to be seen as an opportunity to BUY.
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