In today’s briefing:
- Why Biocon’s Merger Is the Cleaner, Cheaper Path to Value Unlock?
- China Healthcare Weekly (Nov.16) – Crazy Healthcare IPOs, Don’t Bet on BD, Biokin HK IPO Delayed
- Merit Medical Accelerates Market Growth Through High-Impact WRAPSODY-CIE Adoption & Physician Uptake; What Lies Ahead?
- Option Care Health: Inside Its 175-Facility Network — What’s Fueling the Next Wave of Infusion Center Growth?
Why Biocon’s Merger Is the Cleaner, Cheaper Path to Value Unlock?
- Biocon Ltd has confirmed its board, via a committee first formed on May 8, 2025, is formally evaluating a reverse merger of its unlisted arm, Biocon Biologics, into the parent.
- This merger is a financial de-risking move designed to immediately address $1.2 billion in acquisition debt and unlock a ‘conglomerate discount’ on the Rs.2,721 crore revenue biosimilars business.
- The move would eliminate the parent’s holding company discount, but the key hurdle is the valuation and swap ratio required to satisfy minority shareholders, chiefly Serum Institute.
China Healthcare Weekly (Nov.16) – Crazy Healthcare IPOs, Don’t Bet on BD, Biokin HK IPO Delayed
- For secondary-market investors, aligning with established technology pathways offers greater clarity and comfort than speculating on new business development deals from Chinese firms.
- As IPOs of biotechs in HK increase crazily in 2025, it has led companies to overly pursue stock trading, share reduction and exit.We suggest investors remain rational about healthcare IPOs.
- The valuation/IPO pricing of Biokin is too high. Recent poor performance of A/H shares after IPO has already intensified concerns. This could be the reason for the delay of IPO.
Merit Medical Accelerates Market Growth Through High-Impact WRAPSODY-CIE Adoption & Physician Uptake; What Lies Ahead?
- Merit Medical Systems reported a strong performance in the third quarter of 2025, showing substantial growth across various financial indicators.
- The company achieved total revenue of $384.2 million, representing a 13% increase year-over-year on a GAAP basis, and 12.5% on a constant currency basis.
- This robust performance was primarily driven by 7.8% constant currency organic growth, surpassing the previously forecasted 6% high range.
Option Care Health: Inside Its 175-Facility Network — What’s Fueling the Next Wave of Infusion Center Growth?
- Option Care Health reported a strong performance in the third quarter of 2025, delivering a 12% year-over-year increase in revenue.
- This growth was balanced across its acute and chronic therapy portfolios, demonstrating its effective competitive positioning within the healthcare market.
- The mid-teens growth in acute therapies outpaced expected industry rates, which can be attributed to the company’s strategic positioning and operational agility.
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