Daily Brief Health Care: Celltrion Inc, Guangzhou Wondfo Biotech C-A, Hologic Inc and more

In today’s briefing:

Celltrion (068270 KS): Humira Biosimilar Launch in US; Filed New Biosimilar Marketing Application
Guangzhou Wondfo Biotech (300482.CH) – Time to Bottom Fish?
Hologic Inc.: 3 Key Drivers & Strategic Priorities Driving Growth – Financial Forecasts

Celltrion (068270 KS): Humira Biosimilar Launch in US; Filed New Biosimilar Marketing Application

Celltrion Inc (068270 KS) has launched Humira biosimilar Yuflyma in the U.S. market, with a list price of $6,576.50 per month, 5% cheaper than Humira.
Yuflyma is a citrate-free formulation that is highly concentrated. More than 80% of patients treated with Humira in the U.S. rely on a high-concentration and citrate-free formulation.
Celltrion has submitted marketing application to the FDA for Eylea biosimilar candidate, CT-P42. The company plans to file for approval for the same in Europe and other countries later.

COVID-19 didn’t bring Wondfo explosive performance growth because China’s official COVID-19 detection method is nucleic acid test while Wondfo’s strength is antigen detection,which is used in later stage of COVID-19.
Revenue growth would slow down in 2023 due to the high base last year.2023 is a good time to bottom fish this stock as Wondfo’s performance growth would recover afterwards.
After continuous corrections, the current valuation is already at a low level, and has already priced in the negative impact of the decline in COVID-19 business and IVD centralized procurement.

Hologic managed to exceed the revenue expectations as well as the earnings expectations of Wall Street.
The company’s financial results surpassed expectations, driven by robust organic revenue growth in key divisions like Diagnostics, Surgical, and Breast Health excluding COVID-19, driven by new products, market expansion and customer loyalty.
Hologic’s COVID-19 assay revenue was $233 million, down 47% sequentially, reflecting lower testing demand and increased competition.

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