Deutsche Bank believes the market for PCSK9 inhibitors, which the firm says lower "bad" cholesterol to a greater degree than statins alone, can top $22B by 2022 in the U.S. alone. Deutsche says that while Sanofi (SNY) and Regeneron's (REGN) Praluent as well as Amgen's (AMGN) Repatha have a head start on Pfizer's (PFE) bococizumab, the market opportunity is large enough to support multiple products. The firm raised its price target for Pfizer shares to $38 from $37 and keeps a Buy rating on the name. It also has Buy ratings on Amgen and Regeneron.
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Pfizer announced that the European Commission, or EC, has granted marketing authorization for Emblaveo for the treatment of adult patients with complicated intra-abdominal infections, or cIAI, hospital-acquired pneumonia, or HAP, including ventilator-associated pneumonia, or VAP, and complicated urinary tract infections, or cUTI, including pyelonephritis. It is also indicated for the treatment of infections due to aerobic Gram-negative organisms in adult patients with limited treatment options.