In today’s briefing:
- (Mostly) Asia-Pac M&A: APM Human Services, TCM, Alps Logistics, Fancl, Jeisys Medical, PropertyGuru
- Henlius (2696 HK): Share Alternative Facilitates the Vote
- China Healthcare Weekly (Aug.25)- China TCM 24H1 Profit Warning, Financing Activities, Giant Biogene
- Clarity Pharmaceuticals Ltd (CU6 AU): An Attractive Bet on Red Hot Radiopharmaceutical Field
- Cardinal Health Inc.: How Are They Achieving Specialty Business Growth Despite Nonrenewal Challenges! – Major Drivers
- Medtronic plc: Are Its Investments in Robotics with Hugo Robotic-Assisted Surgery System Yielding Results? – Major Drivers
(Mostly) Asia-Pac M&A: APM Human Services, TCM, Alps Logistics, Fancl, Jeisys Medical, PropertyGuru
- I tally 45 – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal
- Two new deals were discussed this week: Alimentation Couche-Tard (ATD CN)‘s non-binding proposal for Seven & I Holdings (3382 JP).; and EQT’s Offer for PropertyGuru (PGRU US).
- Key updates took place on APM Human Services (APM AU), TCM (570 HK), GaPack (468 HK), Alps Logistics (9055 JP), Fancl Corp (4921 JP), and Jeisys Medical (287410 KS).
Henlius (2696 HK): Share Alternative Facilitates the Vote
- Shanghai Fosun Pharmaceutical (Group) (2196 HK) announced the Shanghai Henlius Biotech (2696 HK) share alternative offer, subject to proration due to a cap of 8% of outstanding shares.
- The share alternative offer was necessary to facilitate the vote as the HK$24.60 offer is half the HK$49.60 IPO price.
- The co-founders, HenLink and LVC, will likely tender some or all their shares for scrip. At the last close and for the December-end payment, the gross/annualised spread is 7.4%/17.9%.
China Healthcare Weekly (Aug.25)- China TCM 24H1 Profit Warning, Financing Activities, Giant Biogene
- China Traditional Chinese Medicine (570 HK)‘s profit warning suggests weaker-than-expected 2024H1 results, but the interim report is needed for clarity. This is unlikely to negatively affect the company’s privatization plans.
- In 24H1, healthcare investment and financing activities have slowed, and it will take time for investors’ confidence in the sector to recover.
- Giant Biogene (2367 HK)‘s 24H1 results exceeded expectations, leading management to raise its 2024 guidance. However, the profit margin declined, and we remain cautious about long-term growth prospects.
Clarity Pharmaceuticals Ltd (CU6 AU): An Attractive Bet on Red Hot Radiopharmaceutical Field
- Clarity Pharmaceuticals Ltd (CU6 AU) received FDA fast track designation for its lead candidate 64Cu-SAR-bisPSMA for PET imaging of prostate cancer lesions. Currently, 64Cu-SAR-bisPSMA is in phase 3 trial.
- If approved, 64Cu-SAR-bisPSMA has the potential the best-in-class diagnostic as the product has improved lesion detection capability compared to existing prostate cancer diagnostics.
- Clarity’s copper platform, strong prostate pipeline and therapeutic and diagnostic efficacy data represents an attractive opportunity to grow a significant radiopharmaceutical franchise in oncology and other indications.
Cardinal Health Inc.: How Are They Achieving Specialty Business Growth Despite Nonrenewal Challenges! – Major Drivers
- Cardinal Health Incorporated has shown a remarkable year with strong operational performance, achieving a considerable improvement in key financial metrics as highlighted in their Fourth Quarter FY 2024 Earnings.
- During the fiscal year 2024, Cardinal Health reported striking growth in earnings per share (EPS), marking a 29% increase in both the fourth quarter and for the entire year.
- The substantial growth in EPS throughout FY 2024 to $7.53 indicates a positive trajectory exceeding the company’s initial guidance significantly.
Medtronic plc: Are Its Investments in Robotics with Hugo Robotic-Assisted Surgery System Yielding Results? – Major Drivers
- Medtronic PLC reported its fiscal 2025 first-quarter results, reflecting a sustained performance trajectory with key financial metrics meeting or exceeding expectations.
- Highlights from the earnings call emphasize continued growth across several of Medtronic’s business segments, along with strategic advancements in product innovations and global market expansions.
- Revenue growth was reported at 5.3%, surpassing the midpoint of guidance, with significant contributions from the Cardiovascular, Neuroscience, and Diabetes segments.
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