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RBC Capital 'skeptical' on 'unsubstantiated' reports Roche eyeing Tesaro buyout.

RBC Capital analyst Kennen Mackay said he is "skeptical" of "unsubstantiated" media reports suggesting Roche (RHHBY) is interested in buying Tesaro (TSRO) given what he sees as lack of a compelling strategic rationale for such a deal. Given Zejula's trajectory to date and increasing competition in the recurrent maintenance ovarian cancer market, Mackay continues to expect Street estimates to be lowered for Tesaro. He also thinks Roche is focused on developing or acquiring "best-in-class" molecules, and given this context Mackay sees Rubraca as a potentially better fit than Zejula, he tells investors. Mackay keeps a Sector Perform rating and $46 price target on Tesaro shares.

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Publication:The Fly
Date:Jun 20, 2018
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