INVA - Analyst Projects Strong Growth for GSK-Innoviva Partnered Respiratory Drugs | Benzinga
Cantor Fitzgerald has initiated coverage on Innoviva, Inc. (NASDAQ:INVA), citing the company’s unique business model centered around royalties and healthcare assets.
The company receives royalties from GSK plc (NYSE:GSK) for popular asthma and COPD products, including Relvar/Breo and Anoro, with combined sales of over $2 billion in 2023. “We believe their manufacturing complexity provides further protection from potential competitors,” Cantor analyst writes.
Cantor projects around $1.1 billion of 5-year projected royalty revenues from GSK and initiates Innoviva with an Overweight rating.
The analyst says Breo and Anoro have exceeded expectations, even during challenging times such as the COVID-19 ...