In today’s briefing:
- Mayne Disagrees With Cosette On MAC
- Asahi Intecc (7747 JP): Medical Division Drives 9M Result; FY25 Guidance Raised; Buyback Announced
- Innova Captab Q4FY25 Update: Jammu Plant, R&D, and Market Penetration
Mayne Disagrees With Cosette On MAC
- As widely speculated, Cosette asserted to Mayne Pharma (MYX AU) on the 17th May a Material Adverse Change (MAC) has occurred.
- Mayne disagrees, and views the pre-requisites for a MAC, as defined in the SID, have not been established.
- What now? The Scheme is not terminated. Both parties remain in consultation. If those talks are not satisfactory (say, a price reduction [my guess]), Cosette said it will walk.
Asahi Intecc (7747 JP): Medical Division Drives 9M Result; FY25 Guidance Raised; Buyback Announced
- Asahi Intecc (7747 JP) announced 9MFY25 result, with double-digit growth across all key parameters. Revenue increased 14% YoY to ¥91.8B, driven by 16% growth in medical division.
- The company has raised guidance for FY25 revenue and operating profit and reduced net profit guidance to reflect better-than-expected performance of medical division and booking of impairment loss.
- Asahi will buy back up to 8.8M shares (representing 3.2% of issued shares) for ¥15B. Buyback will be conducted from May 16, 2025 to October 31, 2025.
Innova Captab Q4FY25 Update: Jammu Plant, R&D, and Market Penetration
- Innova Captab (1605221D IN) achieved strong Q4 FY25 revenue growth of nearly 20%, though profitability felt impact from new Jammu plant’s depreciation and finance costs.
- The new manufacturing facility in Jammu was commercialized in Q4 FY25, contributing INR 36 crores revenue and expanding production capabilities.
- The company expects strong FY26 growth, with Jammu plant adding INR 400 crores, projecting a 25% revenue CAGR long-term and improving margins.
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