In today’s briefing:
- The Beat Ideas: Jubilant Pharmova – Turning Capex Into Catalysts for Long-Term Value
- ENSC: Game-changing Pain Reliever Begins Phase 3
- Fresenius Medical Care: Can Its Hydration-Free Dialysis (HDF) Innovation Be The Next Big Game Changer?
- J Frontier Co Ltd (2934 JP): Full-year FY05/25 flash update
- PYPD: Positive Topline Data From D-PLEX100 Trial Contributes to Multiple Subsequent Benefits
- Sino Biopharmaceutical (1177 HK): Acquisition To Enrich Pipeline and Enhance International Influence
- Stevanato Group Is Future-Proofing Pharma with AI-Pricing
- Cybin, Inc. – CYB003 Vs. Other Aspiring Novel Depression Treatments
- Unisplendour Corp A/H Listing – Growth Slowing, Margins Dropping
The Beat Ideas: Jubilant Pharmova – Turning Capex Into Catalysts for Long-Term Value
- Jubilant Pharmova is investing over USD 285 million to expand its PET radiopharmacy sites, CDMO Sterile Injectables, and CRDMO capacity (FTEs from 1,000 to 4,000 by FY27).
- These segments, contributing over 80% of FY25 EBITDA, are positioned for faster growth and margin expansion, with Line 3 in Spokane expected to reach peak utilization in 3 years.
- A pivot towards higher-margin businesses with targeted RoCE above 20% enhances confidence in achieving Vision 2030 goals of doubling revenue and reaching 23–25% EBITDA margins.
ENSC: Game-changing Pain Reliever Begins Phase 3
- Ensysce Biosciences is committed to finding a solution to the opioid crisis plaguing the US and other developed countries around the world.
- Through its proprietary TAAP technology Ensysce is in the process of receiving approval for an abuse-resistant yet still pain-relieving opioid.
- The company announced that it has initiated its pivotal Phase 3 study of PF614.
Fresenius Medical Care: Can Its Hydration-Free Dialysis (HDF) Innovation Be The Next Big Game Changer?
- Fresenius Medical Care reported its first quarter 2025 results, showcasing a mixed performance across various segments and geographies.
- The company achieved a strong organic revenue growth of 5%, driven by improvements in both Care Delivery and Care Enablement segments.
- However, challenges such as a severe flu season and one fewer dialysis day in the quarter impacted overall volume growth in the U.S. Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.
J Frontier Co Ltd (2934 JP): Full-year FY05/25 flash update
- In FY05/24, the company reported revenue of JPY21.5bn (+21.4% YoY) and net income of JPY88mn.
- The company forecasts FY05/26 revenue of JPY23.6bn (+9.7% YoY) and net income of JPY100mn (+14.2% YoY).
- The Healthcare Marketing business achieved revenue of JPY9.7bn (+53.0% YoY) with an operating profit of JPY127mn.
PYPD: Positive Topline Data From D-PLEX100 Trial Contributes to Multiple Subsequent Benefits
- Zacks Small-Cap Research Note for PolyPid Ltd. (PYPD)
Sino Biopharmaceutical (1177 HK): Acquisition To Enrich Pipeline and Enhance International Influence
- Sino Biopharmaceutical (1177 HK) is acquiring the balance 95% equity interests in LaNova Medicines for net consideration of $500M to be funded by internal resources and bank borrowings.
- With focus on oncology and differentiated capability spanning monoclonal antibodies, bispecific antibody, and ADC drug, LaNova is a strategic fit for Sino Biopharma.
- The acquisition will enhance Sino Biopharma’s reputation and image in the global pharmaceutical industry, and promote the conclusion of potential international transactions in the future.
Stevanato Group Is Future-Proofing Pharma with AI-Pricing
- Stevanato Group’s first quarter of fiscal 2025 results showcase both strengths and challenges in their operational execution, highlighting the complexities of navigating a global manufacturing and business environment.
- The company’s total revenue increased by 9% to EUR 256.6 million compared to the prior year, primarily driven by the Biopharmaceutical and Diagnostics Solutions (BDS) segment, which saw an 11% revenue increase.
- The Engineering Segment experienced a 4% revenue decline, primarily due to legacy projects impacting profitability.
Cybin, Inc. – CYB003 Vs. Other Aspiring Novel Depression Treatments
- Lessons learned from Lykos’ FDA blowback. Our podcast began by recalling our podcast with Drysdale about one year ago.
- At that time, the regulatory pathway for psychedelics was shrouded by uncertainty over the FDA’s concerns over the conduct of Lykos’ Phase 3 trial for its promising MDMA-AT for PTSD.
- Drysdale explained how these revelations represented perfect timing for Cybin, right ahead of a pre-planned meeting with the FDA to prepare CYB003’s transition into its Phase 3 program.
Unisplendour Corp A/H Listing – Growth Slowing, Margins Dropping
- Unisplendour Corporation Limited (000938 CH), an ICT infrastructure products provider, aims to raise around US$1bn in its H-share listing.
- UC designs and sells a diverse portfolio of ICT infrastructure products, covering the entire digital solutions industry chain.
- In this note, we look at its past performance and other deal dynamics that might impact the listing.
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