In today’s briefing:
- Smartkarma Webinar | European Event-Driven: Top Ideas
- Pfizer Inc (PFE US): What’s Lie Ahead of Comirnaty? Potential Blockbuster Drugs in Pipeline
- Abbott Laboratories (ABT US): Beat-And-Raise Q2; Nutrition Drags; Full-Year EPS Guidance Raised
- Pre-IPO Best Wellness Innovation Group – Here Are the Concerns
Smartkarma Webinar | European Event-Driven: Top Ideas
For our next Webinar, we are delighted to welcome back Analyst Jesus Rodriguez Aguilar who will take us through his top ideas in Europe’s M&A landscape.
The webinar will be hosted on Wednesday, 27 July 2022, 17:00 SGT/HKT.
Jesus Rodriguez Aguilar is an Event-Driven Analyst looking across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations.
Pfizer Inc (PFE US): What’s Lie Ahead of Comirnaty? Potential Blockbuster Drugs in Pipeline
- Comirnaty had had a significant positive impact on Pfizer Inc (PFE US)’s revenue in 2021. 2022 will be no different. However, outlook for COVID-19 vaccine is uncertain beyond 2022.
- Apart from the existing blockbuster fast-growing drugs, Pfizer has a rich late-stage pipeline. Its alopecia areata drug candidate, ritlecitinib has potential to become a blockbuster drug.
- Pfizer aims to add $25 billion revenue to its 2030 top-line expectations. Thus far, the company has announced two deals toward this ambition, entailing potential revenue addition of $7.5 billion.
Abbott Laboratories (ABT US): Beat-And-Raise Q2; Nutrition Drags; Full-Year EPS Guidance Raised
- Abbott Laboratories (ABT US) reported strong Q2 results, thanks to higher-than-expected COVID-19 test-related sales of $2.3 billion. However, base business remained muted due to nutrition product recall and manufacturing shutdown.
- FreeStyle Libre revenue grew 19% y/y to $1.1 billion in the quarter, with a global user base exceeding 4 million. Abbott received FDA approval for FreeStyle Libre 3 system.
- The company has raised 2022 EPS guidance 4% to $4.90 and ahead of consensus. COVID testing revenue guidance was also raised by 36% to $6.1 billion.
Pre-IPO Best Wellness Innovation Group – Here Are the Concerns
- The growth in revenue and profit was mainly driven by the face mask business, but this business has ceased, which raises the concerns on future growth momentum of Best Wellness.
- Best Wellness’s weak performance of its own-brand business would prevent it from standing out in the fierce market competition in the long term.
- Together with over-reliance on limited customers and the complex international relations, we are conservative about the Company’s outlook at the current stage.
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