RBC launches coverage of five European drugmakers, favors Roche and AstraZeneca
RBC Capital Markets has begun analyst coverage of five major European pharmaceutical companies, assigning Outperform ratings to Roche and AstraZeneca and Sector Perform to Novartis, GSK and Sanofi. The bank assigned specific price targets and cited pipeline dynamics, recent trial setbacks and patent-expiry pressures as key factors shaping its views…