A hot new class of drugs designed to help the body’s own immune system fend off cancer by blocking a protein called PD-1 is going to be big - but not nearly as big as investors think, according to a new analysis.
Former top Nomura analyst Amit Roy, who now runs independent research firm Foveal, thinks sales of drugs inhibiting Programmed Death receptor (PD-1), or a related target PD-L1, will sell much less than expected.
“We conclude that the global anti PD-1/PD-L1 market is worth an un-risk-adjusted $10 billion a year, materially less than the optimistic (in our view) $20-30 billion forecasts in the market today,” Roy said in a report on Tuesday.
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