Looks like you’re on the UK site. Choose another location to see content specific to your location

Home Industry News Wyeth Added to Conviction Buy List at Goldman Sachs

Wyeth Added to Conviction Buy List at Goldman Sachs

13th November 2008

Wyeth has been added to the Goldman Sachs Conviction Buy list with a 12-month price target of $46 (£31).

The list features the investment bank’s top stock picks and those which its research team believes will outperform the rest of the market.

Goldman believes Wyeth offers a break-up value of $50 a share and claims the assets are underappreciated due to the overhang of its core pharma business.

“Wyeth’s strength in biologicals and vaccines and the lack of extreme patent exposure make it one of the most attractive fundamental stories in pharma,” the firm said.

The news came as Wyeth presented at the Credit Suisse Healthcare Conference on Wednesday (November 12th).

Michael Kamarck, executive vice president of technical operations and product supply at the company, gave the presentation which was broadcast live on the web for investors.

Earlier this year, the company announced the starting of a major adult vaccine clinical trial, as part of the fight against pneumonia.

The phase four study was expected to enrol 85,000 adults.

Wyeth is represented in over 80 countries and has its headquarters in the United States. It has a large portfolio of prescription medicines and over-the-counter products.

We currently have 6 jobs available in Pharmacy industry, find your perfect one now.

Stay informed

Receive the latest industry news, Tips
and straight to your inbox.