Pfizer Vyndamax settlement at lower end of expectations, says Morgan Stanley

Morgan Stanley notes that Pfizer (PFE) announced that it has now reached settlement with all three Vyndamax generic filers, extending the U.S. exclusivity of Vyndamax to June 1, 2031. The firm believes based on its recent conversations that this outcome is at the lower end of investors’ expectations of 2031/2032, says the analyst, who adds that this settlement term suggests that the polymorph patent that expires in 2035 is “likely not very strong.” The firm has an Equal Weight rating and $28 price target on Pfizer shares. Shares of BridgeBio (BBIO) are down about 2% to $73.07 in morning trading following Pfizer’s settlement news.