HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

<ul>
<li>Pfizer seems to be the worst-performing large pharma stock of 2023 after it lowered 2024 forecast. The Company continues to grapple with plummeting demand for its COVID products</li>
<li>The acquisition of Seagen can't turn things around. Except a few products that are still able to maintain growth, sales of vast majority products that we’re familiar with are declining. </li>
<li>The growth engine of Pfizer in post-pandemic era is still uncertain. Even though Pfizer's share price has fallen sharply, this may still not be the time for bottom fishing.</li>
</ul>


Pfizer seems to be the worst-performing large pharma stock of 2023 after it lowered 2024 forecast. The Company continues to grapple with plummeting demand for its COVID products
The acquisition of Seagen can't turn things around. Except a few products that are still able to maintain growth, sales of vast majority products that we’re familiar with are declining. 
The growth engine of Pfizer in post-pandemic era is still uncertain. Even though Pfizer's share price has fallen sharply, this may still not be the time for bottom fishing.


Pfizer Inc (PFE US) - Continue to Lose Its Way in the Post-Pandemic Era

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.
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<ul><li>Novo Nordisk A/S had a disappointing quarter with below-par revenues and earnings just about on par with market expectations.</li><li>In addition to investing in the medium- and long-term development of the obesity market, Novo Nordisk also established an appealing and aggressive pipeline.</li><li>However, Novo Nordisk can still provide operating profit growth of 32% and first-half profits per share growth of 44%.</li></ul>

Novo Nordisk A/S had a disappointing quarter with below-par revenues and earnings just about on par with market expectations.In addition to investing in the medium- and long-term development of the obesity market, Novo Nordisk also established an appealing and aggressive pipeline.However, Novo Nordisk can still provide operating profit growth of 32% and first-half profits per share growth of 44%.

Novo Nordisk A/S: Can The Acquisition Of Inversago Pharma Be A Game Changer? - Major Drivers

<ul><li>Novo Nordisk delivered excellent results in the quarter and managed an all-around beat.</li><li>Besides, the relaunch of Wegovy, primarily in the United States, is more than increasing the company's obesity franchise.</li><li>In the quarter, they experienced severe production issues on their rare endocrine side, which slowed revenue growth on rare illnesses.</li></ul>

Novo Nordisk delivered excellent results in the quarter and managed an all-around beat.Besides, the relaunch of Wegovy, primarily in the United States, is more than increasing the company's obesity franchise.In the quarter, they experienced severe production issues on their rare endocrine side, which slowed revenue growth on rare illnesses.

Novo Nordisk ADR: Is The Obesity Franchise Growth A Major Growth Drivers? – Key Drivers

<ul><li>Novo Nordisk produced a double-digit operational profit and strong revenue growth, driven by excellent commercial execution in their therapy areas and critical countries.</li><li>They also started the first two Phase trials based on the Dicerna in the siRNA technology platform.</li><li>Besides that, Novo anticipates starting a Phase IIIb trial with Ziltivekimab in the first half of 2023 to treat heart failure with preserved ejection fraction.</li></ul>

Novo Nordisk produced a double-digit operational profit and strong revenue growth, driven by excellent commercial execution in their therapy areas and critical countries.They also started the first two Phase trials based on the Dicerna in the siRNA technology platform.Besides that, Novo anticipates starting a Phase IIIb trial with Ziltivekimab in the first half of 2023 to treat heart failure with preserved ejection fraction.

<ul><li>This is our first report on global diabetes care giant, Novo Nordisk.</li><li>The Danish company has performed decently in 2022 so far and its sales increased by 16% in the first half of this year, with North America accounting for most of that gain.</li><li>We initiate coverage on the stock of Novo Nordisk with a ‘Hold’ rating.</li></ul>

This is our first report on global diabetes care giant, Novo Nordisk.The Danish company has performed decently in 2022 so far and its sales increased by 16% in the first half of this year, with North America accounting for most of that gain.We initiate coverage on the stock of Novo Nordisk with a ‘Hold’ rating.

Novo Nordisk ADR: Initiation of Coverage – The Forma Therapeutics Acquisition & Other Drivers

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)

Pfizer Inc (PFE US) - Continue to Lose Its Way in the Post-Pandemic Era

Pfizer's strategy in post-pandemic era is to "buy revenue", but sustainable growth is questionable because acquisitions may fail to bring...

Xinyao (Criss) Wang

Novo Nordisk A/S: Can The Acquisition Of Inversago Pharma Be A Game Changer? - Major Drivers

Novo Nordisk A/S had a disappointing quarter with below-par revenues and earnings just about on par with market expectations. In addition to...

Baptista Research

Novo Nordisk ADR: Is The Obesity Franchise Growth A Major Growth Drivers? – Key Drivers

Novo Nordisk delivered excellent results in the quarter and managed an all-around beat. Besides, the relaunch of Wegovy, primarily in the United...

Baptista Research

Novo Nordisk A/S.: Major Drivers

Novo Nordisk produced a double-digit operational profit and strong revenue growth, driven by excellent commercial execution in their therapy areas...

Baptista Research

Novo Nordisk ADR: Initiation of Coverage – The Forma Therapeutics Acquisition & Other Drivers

This is our first report on global diabetes care giant, Novo Nordisk. The Danish company has performed decently in 2022 so far and its sales...

Baptista Research

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