Healthcare Equity Analyst - Emerging & Dev Markets, daaimon

Avien Pillay

Healthcare Equity Analyst - Emerging & Dev Markets

daaimon

daaimon is an independent research company focusing on healthcare and consumer sectors across developed and emerging markets. We produce insightful research which challenges conventional thinking. In particular, we look for new ideas by testing consensus forecasts and markets expectations.

Equity Bottom-Up

<ul>
<li>GLP-1s are “a solution” for obesity and not “the solution”. There are over 100 GLP-1s in development and this space could become very commoditised.</li>
<li>Its valuation has certainly become a lot more palatable, and Novo Nordisk is now trading on a FPE of 24.</li>
<li>Lilly’s Zepbound is the preferred GLP-1: Given the better tolerance, and superior results, Zepbound is chosen over Wegovy.</li>
</ul>


GLP-1s are “a solution” for obesity and not “the solution”. There are over 100 GLP-1s in development and this space could become very commoditised.
Its valuation has certainly become a lot more palatable, and Novo Nordisk is now trading on a FPE of 24.
Lilly’s Zepbound is the preferred GLP-1: Given the better tolerance, and superior results, Zepbound is chosen over Wegovy.


Is It Time to Go Long Novo Nordisk (NVO US)?

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>Beta Bionics, a high-growth medtech company and developer of an integrated bionics pancreas system called iLet, filed for an IPO in the United States.</li>
<li>Maker of insulin delivery device cleared by the FDA offers 7.5M shares at a price range between $14.00 and $16.00 per share.</li>
<li>With the most recent S-1/A, Beta Bionics plans to raise ~$122M at the high end of range at $16.00 per share, including a concurrent private placement.</li>
</ul>


Beta Bionics, a high-growth medtech company and developer of an integrated bionics pancreas system called iLet, filed for an IPO in the United States.
Maker of insulin delivery device cleared by the FDA offers 7.5M shares at a price range between $14.00 and $16.00 per share.
With the most recent S-1/A, Beta Bionics plans to raise ~$122M at the high end of range at $16.00 per share, including a concurrent private placement.


Beta Bionics IPO: Will The Innovative MedTech Company Repeat The Success of Livongo Health?

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Novo Nordisk recently presented its third-quarter financial results, showcasing significant growth and strategic developments within the company.</li><li>The key highlights from the call indicate robust expansion across various segments, particularly driven by the strong performance of its diabetes and obesity treatments, including notable products like Ozempic and Wegovy.</li><li>The company reported an impressive 24% increase in sales alongside a 22% rise in operating profit for the first nine months of the fiscal year.</li></ul>

Novo Nordisk recently presented its third-quarter financial results, showcasing significant growth and strategic developments within the company.The key highlights from the call indicate robust expansion across various segments, particularly driven by the strong performance of its diabetes and obesity treatments, including notable products like Ozempic and Wegovy.The company reported an impressive 24% increase in sales alongside a 22% rise in operating profit for the first nine months of the fiscal year.

Novo Nordisk: Global Adoption & Expansion of GLP-1 Therapeutics Driving Our Bullishness!  - Major Drivers

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

<ul>
<li>Anhui’s new VBP included OTC TCM for the first time, which poses a big challenge to the pricing autonomy of CR Sanjiu. This makes Sanjiu's acquisition of Tasly more important/urgent. </li>
<li>Novo Nordisk's performance has raised concerns. The capacity bottleneck for weight-loss drugs seems resolved. Could this signal that the market for weight-loss drugs is reaching its peak?</li>
<li>
<a href="https://www.smartkarma.com/entities/keymed-biosciences-inc" target="_blank" data-smartkarma-citation="entities:33011:1" rel="noopener">Keymed Biosciences (2162 HK)</a>’s CM310 will miss this year’s NRDL negotiations, putting the company at a disadvantage. Considering the competitive landscape, we are concerned about Keymed’s performance.</li>
</ul>


Anhui’s new VBP included OTC TCM for the first time, which poses a big challenge to the pricing autonomy of CR Sanjiu. This makes Sanjiu's acquisition of Tasly more important/urgent. 
Novo Nordisk's performance has raised concerns. The capacity bottleneck for weight-loss drugs seems resolved. Could this signal that the market for weight-loss drugs is reaching its peak?

Keymed Biosciences (2162 HK)’s CM310 will miss this year’s NRDL negotiations, putting the company at a disadvantage. Considering the competitive landscape, we are concerned about Keymed’s performance.


China Healthcare Weekly (Sep.22) - CR Sanjiu's Trouble, Weight-Loss Drug Market Saturation, Keymed

<ul>
<li>BioAge Labs, a clinical-stage biopharma company backed by a leading syndicate of biotech investors, filed to go public in the United States.</li>
<li>Anti aging and obesity biopharma startup is purely focused on chronic metabolic diseases and established partner agreements with Amgen and Eli Lilly.</li>
<li>I have a positive view of upcoming BioAge Labs IPO and expect a strong first-day return above the IPO offer price.</li>
</ul>


BioAge Labs, a clinical-stage biopharma company backed by a leading syndicate of biotech investors, filed to go public in the United States.
Anti aging and obesity biopharma startup is purely focused on chronic metabolic diseases and established partner agreements with Amgen and Eli Lilly.
I have a positive view of upcoming BioAge Labs IPO and expect a strong first-day return above the IPO offer price.


BioAge Labs IPO Preview: Investor Focus Has Turned To Azelaprag, A Huge Market Potential

Denmark

Novo Nordisk A/S develops, produces, and markets pharmaceutical products. The Company focuses on diabetes care and offers insulin delivery systems and other diabetes products. Novo Nordisk also works in areas such as haemostatis management, growth disorders, and hormone replacement therapy. The Company offers educational and training materials. Novo Nordisk markets worldwide.

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Novo Nordisk (NVO US)

Is It Time to Go Long Novo Nordisk (NVO US)?

GLP-1s are "a" solution for obesity. With 100+ in development, the market could become overcrowded. NN's valuation is more realistic now, but we...

daaimon

Beta Bionics IPO: Will The Innovative MedTech Company Repeat The Success of Livongo Health?

Beta Bionics, a developer of bionic pancreas system called iLet, is expected to IPO next week. In my insight, I discuss IPO valuation and...

Andrei Zakharov

Novo Nordisk: Global Adoption & Expansion of GLP-1 Therapeutics Driving Our Bullishness! - Major Drivers

Novo Nordisk recently presented its third-quarter financial results, showcasing significant growth and strategic developments within the...

Baptista Research

China Healthcare Weekly (Sep.22) - CR Sanjiu's Trouble, Weight-Loss Drug Market Saturation, Keymed

Anhui's VBP includes OTC TCM, challenging CR Sanjiu's pricing autonomy. There are concerns about weight-loss drug market saturation. CM310 missing...

Xinyao (Criss) Wang

BioAge Labs IPO Preview: Investor Focus Has Turned To Azelaprag, A Huge Market Potential

California-based BioAge Labs files for an IPO and plans to raise capital for clinical trials of their lead compound, Azelaprag, in combination with...

Andrei Zakharov

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Is It Time to Go Long Novo Nordisk (NVO US)?

​GLP-1s are "a" solution for obesity. With 100+ in development, the market could become overcrowded. NN's valuation is more realistic now, but we...

daaimon

Beta Bionics IPO: Will The Innovative MedTech Company Repeat The Success of Livongo Health?

Beta Bionics, a developer of bionic pancreas system called iLet, is expected to IPO next week. In my insight, I discuss IPO valuation and...

Andrei Zakharov

Novo Nordisk: Global Adoption & Expansion of GLP-1 Therapeutics Driving Our Bullishness! - Major Drivers

Novo Nordisk recently presented its third-quarter financial results, showcasing significant growth and strategic developments within the...

Baptista Research

China Healthcare Weekly (Sep.22) - CR Sanjiu's Trouble, Weight-Loss Drug Market Saturation, Keymed

​Anhui's VBP includes OTC TCM, challenging CR Sanjiu's pricing autonomy. There are concerns about weight-loss drug market saturation. CM310 missing...

Xinyao (Criss) Wang

BioAge Labs IPO Preview: Investor Focus Has Turned To Azelaprag, A Huge Market Potential

California-based BioAge Labs files for an IPO and plans to raise capital for clinical trials of their lead compound, Azelaprag, in combination with...

Andrei Zakharov

GLP-1s are "a" solution for obesity. With 100+ in development, the market could become overcrowded. NN's valuation is more realistic now, but we...

Anhui's VBP includes OTC TCM, challenging CR Sanjiu's pricing autonomy. There are concerns about weight-loss drug market saturation. CM310 missing...