In today’s briefing:
- Concord Biotech Pre-IPO Tearsheet
- HCG: Scaling Up Well
- Biogen Inc: The Byooviz Marketing Agreement & Other Drivers
Concord Biotech Pre-IPO Tearsheet
- Concord Biotech Ltd (658823Z IN) is looking to raise about US$250m in its upcoming India IPO. The deal will be run by Kotak, Citi, and Jefferies.
- Concord Biotech is an India-based biopharma firm, which develops and manufactures fermentation-based APIs.
- As per F&S, it was one of the leading global developers and manufacturers of select fermentation-based APIs across immunosuppressants and oncology in terms of market share, based on FY21 volume.
HCG: Scaling Up Well
- Over the last 5Y, HCG had been in expansion mode. However, since the last year or so, HCG has been consolidating its presence.
- As a result, revenues and profitability are scaling up as new centers are inching towards maturity. FY23 is poised to be a strong year.
- While HCG has been consolidating, it is not compromising on growth. Aided by technology upgradation, growing brand awareness and digital initiatives, mature centers continue to see robust growth.
Biogen Inc: The Byooviz Marketing Agreement & Other Drivers
- Biogen has been in the news for a number of controversies, most of which are associated with its Alzheimer’s drug, Aduhelm.
- The company is looking to shake off the claims that it misled investors on the assumed success of Aduhelm.
- However, the company did win a priority review from the U.S.
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