Daily Brief Health Care: Max Healthcare Institute, Clarity Pharmaceuticals Ltd, Novartis AG Reg, Artrya , Grace Therapeutics, Fresenius & KGaA, Dentsply International, Daiichi Sankyo, Merck & Co, Certara and more

• NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.
• In this insight, we take a look at the names leading the race to become ADDs/DELs for these indices during the September 2025 index rebal event.
• We see two changes for NIFTY 50 and five changes for NIFTY 100 in the September 2025 rebal.

• Clarity Pharmaceuticals Ltd (CU6 AU) initiated Phase 3 trial for its lead diagnostic candidate 64Cu-SARbisPSMA. The trial intends to gather data for filing of the product.
• The company’s cash position at the end of the March quarter was A$95M, with additional A$11M received in April for FY24 R&D tax incentive. This provides cash runway through 2H26.
• Clarity has built a robust supply of copper-64 with a wide network of product manufacturers in preparation for its two Phase 3 trials in prostate cancer and potential commercialization. 

• The CEO of Novartis, with a medical background, emphasizes the importance of focusing on breakthrough innovations and patient impact in leading the company
• Implemented changes to focus on innovative medicines by spinning off non-core businesses, leading to unlocking significant value for the company
• Novartis structures R&D differently by having a strategy and growth function, focusing on key therapeutic areas, and investing in advanced technology platforms like radio ligand therapies and cell and gene therapies

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• Extra Edition of the Broker Call Report

• Grace is a clinical-stage, biotechnology company focused on rare disease.
• Its lead program, GTx-104, is a novel injectable formulation of nimodipine for the treatment of aneurysmal subarachnoid hemorrhage (aSAH).
• Other programs include GTX-102 for Ataxia Telangiectasia & GTX-101 for postherpetic neuralgia.

• Fresenius reported a robust financial performance in the first quarter of 2025 with promising momentum across its business segments.
• The company reiterated its full-year guidance, demonstrating confidence in its strategic initiatives and market positioning.
• Positives from the results include a notable double-digit growth in earnings per share (EPS), up by 12% year-over-year, indicating strong operational efficiency and disciplined capital deployment.

• Dentsply Sirona delivered mixed results for Q1 2025, highlighting both progress and challenges across its operations.
• The company faced a 7.7% decline in total revenue compared to the previous year, with organic sales down by 4.4%.
• This decline included a significant negative impact from Byte, which was responsible for a 4% drop, illustrating ongoing challenges in the Company’s orthodontics segment.

• Daiichi Sankyo (4568 JP) has received FDA approval for Datroway for the treatment of adult patients with locally advanced or metastatic EGFR-mutated non-small cell lung cancer.
• Following the approval, Daiichi Sankyo is eligible for milestone payment of $45M from partner AstraZeneca.
• For FY26, Daiichi Sankyo sees Datroway revenue of ¥3.8B, mainly driven by the U.S. (¥3.3B, up 197% YoY).

• Merck & Co., Inc. reported its first-quarter 2025 financial results with a mix of strengths and challenges.
• Overall, the company maintained solidity in several aspects of its business, driven by strong performances in oncology, animal health, and emerging products, but faced external pressures and certain regional challenges.
• Revenue for Merck in Q1 2025 was reported at $15.5 billion, meeting the company’s expectations and showing robust contributions from newer drugs like WINREVAIR and CAPVAXIVE.

• Certara’s performance in the first quarter of 2025 shows a blend of favorable developments and continuing challenges, reflecting its position in the dynamic pharmaceutical and biosimulation market.
• The company reported revenue of $106 million, which marks a 10% growth compared to the previous year.
• This growth is complemented by a 12% increase in bookings, amounting to $118.2 million, with notable contributions from software bookings, which grew by 23%.