Healthcare Daily Briefs | Page 36 of 153

Dec 30

Daily Brief Health Care: Shanghai Henlius Biotech and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

Weekly Deals Digest (29 Dec) – Henlius, Vesync, SDHS New Energy, GA Pack, Makino, Malaysia Airports

Weekly Deals Digest (29 Dec) – Henlius, Vesync, SDHS New Energy, GA Pack, Makino, Malaysia Airports

By Arun George

A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments: LG CNS (LGCNSZ KS) seeks to raise up to US$837 million through a primary/secondary offering.
Event-Driven developments: Shanghai Henlius Biotech (2696 HK), Greatview Aseptic Packaging (468 HK), Vesync (2148 HK), Makino Milling Machine Co (6135 JP), Malaysia Airports Holdings (MAHB MK).

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Dec 29

Daily Brief Health Care: Qingdao Haier Biomedical Lt, Penumbra and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

China Healthcare Weekly (Dec.29) – Haier Biomedical Plans to Merge with and Absorb Shanghai RAAS
Penumbra Inc.: An Insight Into Its Margin Expansion Opportunities & Other Major Drivers

China Healthcare Weekly (Dec.29) – Haier Biomedical Plans to Merge with and Absorb Shanghai RAAS

By Xinyao (Criss) Wang

Haier Biomedical plans to merge with and absorb Shanghai RAAS through the issuance of shares, and both parties have signed a letter of intent for the potential merger.
Haier’s acquisition of RAAS helps connect the software and hardware of the blood industry and strengthen the company’s dominant position in the entire industry chain in the blood products industry.
The market value/financial performance of these two are far apart. If the acquisition is completed, it will help Haier improve financial performance, which is obviously more beneficial for Haier.

Penumbra Inc.: An Insight Into Its Margin Expansion Opportunities & Other Major Drivers

By Baptista Research

Penumbra reported a solid performance in its third quarter of 2024, with total revenue of $301 million, marking an 11.1% increase year-over-year on a reported basis, and 10.9% in constant currency.
The results show robust growth in the U.S. thrombectomy business, which rose by 21.2% year-over-year, driven significantly by advancements in their catheter technology, particularly with the Lightning Flash 2.0 and Lightning Bolt 7 products.
Despite this robust growth in the U.S., the company faced challenges internationally, with revenues decreasing slightly by 1.9% reported due to a notable reduction in sales within China.

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Dec 28

Daily Brief Health Care: Strides Pharma Science , Eli Lilly & Co, Nippon Shinyaku and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

The Beat Ideas: Strides Pharma~ A Growth Play Post OneSource Demerger
Eli Lilly’s Weight Loss Revolution: Is It Edging Out Novo Nordisk?
Nippon Shinyaku (4516 JP): Unfavorable Patent Verdict; Company Vows to Fight Back

The Beat Ideas: Strides Pharma~ A Growth Play Post OneSource Demerger

By Sudarshan Bhandari

Strides Pharma achieved record growth in the US, launched high-ticket generics, and is spinning off OneSource CDMO with a projected valuation of $1.8-$2 billion by Q4FY25.
Deleveraging efforts, diversified revenue streams, and regulatory approvals position Strides for profitability recovery, with expected FY26 EBITDA of ₹1,000 crore, driving long-term growth.
Strides is evolving into a leaner, growth-focused entity with reduced debt, a strong US portfolio, and OneSource spin-off, offering ~25% upside from its current market valuation.

Eli Lilly’s Weight Loss Revolution: Is It Edging Out Novo Nordisk?

By Baptista Research

In a pivotal moment for the weight-loss and anti-obesity market, Eli Lilly & Co. has solidified its leadership position following groundbreaking developments around its drug Zepbound.
Recently approved in the United States for treating sleep apnea in obese patients, Zepbound has set a historic precedent as the first drug targeting the underlying causes of this condition.
This development, coupled with robust sales and a promising pipeline, gives Eli Lilly a clear advantage over its primary competitor, Novo Nordisk, whose experimental drug CagriSema underperformed expectations.

Nippon Shinyaku (4516 JP): Unfavorable Patent Verdict; Company Vows to Fight Back

By Tina Banerjee

A US court found Nippon Shinyaku (4516 JP) guilty of patent infringement related to competitor Sarepta Therapeutics (SRPT US)‘s DMD drug Vyondys 53 and asked to pay $115M as compensation.
The jury verdict will have no bearing on Viltepso sales. Nippon Shinyaku disagreed with the verdict, and is considering all options including post jury motions and appeals.
An additional expense to the tune of $115M would surely be a huge drag on the profitability of the company which is already under pressure because of rising costs.

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Dec 27

Daily Brief Health Care: Strides Pharma Science , Ono Pharmaceutical and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

Event Driven: Demerger of OneSource: A Multi-Modality CDMO
Ono Pharmaceutical (4528 JP): Struggle Continues with Opdivo; Competition and Price Cuts Loom Large

Event Driven: Demerger of OneSource: A Multi-Modality CDMO

By Nimish Maheshwari

OneSource is riding the surging demand for GLP-1 drugs, a market projected to reach $30 Billion by 2030, with its expertise in Drug-Device Combination (DDC) solutions.
OneSource is projected to achieve revenue of $350-$400 million over the next 3-4 years from $145 million in 2024 , with an impressive EBITDA margin approaching 40% from 25% in 2024.
OneSource is expected to receive Listing Approval from the Stock Exchanges during Q4 FY25

Ono Pharmaceutical (4528 JP): Struggle Continues with Opdivo; Competition and Price Cuts Loom Large

By Tina Banerjee

Ono Pharmaceutical (4528 JP) is reporting decelerating revenue from its flagship drug, Opdivo. During H1FY25, domestic revenue from Opdivo decreased 17% YoY to ¥62.6B.
Opdivo will start to lose patent protection starting from 2028. Prolific commercialization of these new drugs will remain crucial for Ono riding the patent cliff successfully.
Ono shares plunged 36% over the last one year to trade at attractive valuation. In absence of any near-term growth catalyst, the shares are not expected to see much upside.

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Dec 26

Daily Brief Health Care: Duality Biotherapeutics and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

Pre-IPO Duality Biotherapeutics – Has the Potential to Surpass RemeGen

Pre-IPO Duality Biotherapeutics – Has the Potential to Surpass RemeGen

By Xinyao (Criss) Wang

Founder Zhu Zhongyuan is a key figure in biotech landscape.So, when Duality first started its entrepreneurial financing, the process was smooth and the starting point of Duality was not low.
The R&D progress of Duality’s pipelines is slower than competing candidates, so they would be in a passive position after market launch. So, Duality’s valuation would be lower than Kelun Bio.
Duality’s pipeline still has “good stories” to tell. There’s a chance its valuation could be higher than RemeGen, whose business model/investment logic have been falsified due to weak sales data.

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Dec 25

Daily Brief Health Care: Pro Medicus Ltd and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

Pro Medicus Ltd (PME AU): Strong FY24 Result; Starts FY25 With Record Breaking Contract Win

Pro Medicus Ltd (PME AU): Strong FY24 Result; Starts FY25 With Record Breaking Contract Win

By Tina Banerjee

Pro Medicus Ltd (PME AU) reported strong performance in FY24, with revenue increasing 29% YoY to A$162M. Net profit grew at a faster pace of 37% YoY to A$83M.
At the end of FY24, full contracted revenue increased to A$624M over the next five years from A$468M in FY23, laying the foundation for continued growth in FY25 and beyond.
In November, PME signed a A$330M, 10-year contract with Trinity Health. The contract is the largest ever for Pro Medicus and Trinity is the first customer with a national footprint.

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Dec 24

Daily Brief Health Care: Shanghai Henlius Biotech , CanSino Biologics , Reviva Pharmaceuticals Holdi, Top Glove Corp and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

Henlius (2696 HK): Circ Out. 22nd Jan H-Class Meeting
CanSino Biologics (6185.HK/688185.CH) – From 2025 Onwards, Cansino Will Bring Decent Returns
RVPH: Preliminary OLE Readout
Top Glove Corp (TOPG MK): Break-Even Achieved in 1QFY25, Strong Demand to Persist in Coming Quarters

Henlius (2696 HK): Circ Out. 22nd Jan H-Class Meeting

By David Blennerhassett

After Shanghai Henlius Biotech (2696 HK) secured NDRC approval on the 22nd Nov; fulfilled pre-cons on the 16th December, the Circular was dispatched last night, the 22nd December.
The EGM/H-share class meeting will take place on the 22nd January, one day past my estimate. Settlement should be on ore around the 18th Feb, a week beyond my estimate.
Trading at a gross/annualised spread off 2.9%/20.3%. Still attractive here.

CanSino Biologics (6185.HK/688185.CH) – From 2025 Onwards, Cansino Will Bring Decent Returns

By Xinyao (Criss) Wang

2024 is the year when CanSino achieves a fundamental reversal. Based on the current sales performance of meningococcal vaccines, 2024 full-year revenue is expected to reach about RMB840 million.
Under normal circumstances, PCV13i is expected to be approved in Q1-Q2 next year. If everything goes smoothly, PCV13i would be approved at the beginning of next year at the earliest.
Market value of RMB8-10 billion is reasonable range for CanSino. If a new virus causes a pandemic in the future, this will be a powerful catalyst for stock price.

RVPH: Preliminary OLE Readout

By Zacks Small Cap Research

Reviva is a research and development pharmaceutical company with two portfolio compounds targeting nine indications.
The candidates address multiple related mental disorders, rare diseases & other categories of un met need.
Reviva’s lead indication in schizophrenia with brilaroxazine (RP5063) completed its 1st Phase III trial & is set to begin its 2nd in 1Q25.

Top Glove Corp (TOPG MK): Break-Even Achieved in 1QFY25, Strong Demand to Persist in Coming Quarters

By Tina Banerjee

Top Glove Corp (TOPG MK) achieved 80% YoY revenue growth in 1QFY25 and returned to profitability with a net profit of RM5M.
With robust demand outlook, Top Glove expects the ASP to further strengthen. The company aims to recover its EBITDA margin to pre-pandemic levels of 15% by FY26 from 10% now.
Import alert and expected tariff increase on Chinese manufacturers, may help shift the focus from China to Malaysia, as the preferred sourcing destination, thereby helping Top Glove.

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Dec 23

Daily Brief Health Care: Shanghai Henlius Biotech and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

Henlius (2696 HK): Interesting Shareholder Movements with the Vote on 22 January

Henlius (2696 HK): Interesting Shareholder Movements with the Vote on 22 January

By Arun George

Shanghai Henlius Biotech (2696 HK)’s IFA opines that Shanghai Fosun Pharmaceutical (Group) (2196 HK)’s HK$24.60 offer is fair and reasonable. The vote is on 22 January.
The key condition is approval by at least 75% of independent H Shareholders (<10% of all independent H Shareholders rejection). There are recent movements in H Share substantial shareholders.
Key shareholders should be supportive of the cash/scrip offer. At the last close and for a 15 February payment, the gross/annualised spread is 2.9%/16.9%.

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Dec 22

Daily Brief Health Care: HealthCare Global Enterprises and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

Healthcare Global (HCG): Strong Q2FY25 Led by Operating Leverage

Healthcare Global (HCG): Strong Q2FY25 Led by Operating Leverage

By Ankit Agrawal, CFA

As HCG’s scale is growing and as its emerging centers are maturing, profitability is improving. Adjusted EBITDA crossed INR 100cr mark for the first time ever.
EBITDA grew by 21% YoY in Q2FY25 with EBITDA margin improving to 18.8% vs 17.8% YoY. Q2FY25 revenue also grew healthy at 14% YoY to reach INR 550cr+.
HCG also announced acquisition of a cancer hospital in Vizag that is margin accretive. Including this acquisition, EBITDA margin is 19% and proforma revenue growth is 20% YoY.

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Dec 21

Daily Brief Health Care: Chabiotech, Mira Pharmaceuticals , MetaVia and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

CHA Biotech Announces A Capital Raise of 41% of Outstanding Shares
MIRA: IND Application Submitted to FDA
MTVA: Compelling Data for DA-1241 in Phase 2a MASH Trial

CHA Biotech Announces A Capital Raise of 41% of Outstanding Shares

By Douglas Kim

On 20 December, Chabiotech (085660 KS) announced that it plans to conduct a rights offering capital raise of 250 billion won.
The expected rights offering price is 10,800 won (27.3% lower than current price of 14,860 won). A total of 23.148 million new shares (41% of outstanding shares) will be issued.
This capital raise by CHA Biotech is likely to further negatively impact the company’s share price in the next several weeks as many investors are concerned about excessive shares dilution.

MIRA: IND Application Submitted to FDA

By Zacks Small Cap Research

MIRA Pharmaceuticals(MIRA) Company Sponsored Research Report

MTVA: Compelling Data for DA-1241 in Phase 2a MASH Trial

By Zacks Small Cap Research

On December 18, 2024, MetaVia announced positive topline results from the Phase 2a clinical trial of DA-1241 in patients with presumed metabolic dysfunction-associated steatohepatitis (MASH).
The results showed a statistically significant decrease in alanine aminotransferase (ALT) levels, the trials primary outcome, for DA-1241 100 mg at weeks 4 and 8 and statistically significant results were also seen in controlled attenuation parameter (CAP) and hemoglobin A1c.
DA-1241 was well tolerated with only 35% of patients on the 100 mg dose reporting a treatment related adverse event (TEAE) compared to 28% on placebo.

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