ALXN, BMRN, GILD, BIIB, AMGN, CELG Currency may be biggest Brexit impact on biotech, says Piper Jaffray
Piper Jaffray analyst Joshua Schimmer said the implications of Brexit on biotech companies are unclear, though he added that currency may be the biggest impact. Alexion (ALXN) BioMarin (BMRN) and Gilead (GILD) are exposed to a greater extent to foreign exchange impacts, Celgene (CELG) is "in the middle" of the group and Biogen (BIIB) and Amgen (AMGN) are less exposed, Schimmer tells investors. Additionally, shipping product in Europe may become more complex and it is unknown whether GDP changes as a result of this will lead to a new set of IPAB calculations, the analyst added. theflyonthewall.com
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