Daily Brief Health Care: Nanjing Leads Biolabs, Apollo Hospitals Enterprise, QIAGEN NV, Aft Pharmaceuticals, Earth Science Tech, Achieve Life Sciences , Nanosonics Ltd and more

• Leads Biolabs, a China-based clinical-stage biotech, is looking to raise at least USD 100 million via a Hong Kong listing. The joint book runners are MS and CITIC.
• In our previous insight, we looked at the company’s core products and its management team, as well as investor backing, as well as PHIP updates.
• In this note we will provide an rNPV-based valuation for the company.

• Apollo Hospitals Enterprise (APHS IN) is demerging its omni-channel pharmacy and digital health business into a new entity, later merging with Keimed ltd, the wholesale pharmacy distribution arm.
• The reorganisation aims to unlock shareholder value, enhance operational focus, and create a transparent, comprehensive pharmacy and digital healthcare platform.
• The NewCo(AHL) targets INR 25,000 crore revenue(50%+) by FY27 from digital health and pharmacy scale-up, while core hospitals expand with new beds and high-value therapies.

• QIAGEN’s recent earnings call highlighted several points of interest for investors.
• The company reported betterthan-expected results for Q1 2025, with net sales of $483 million, marking a 7% rise at constant exchange rates (CER) year-over-year.
• Adjusted diluted earnings per share reached $0.50 at CER, surpassing initial forecasts.

AFT Pharmaceuticals has provided an investor update for Q2 CY25 (Q1 FY26), summarising material progress made across its global expansion and R&D-driven growth strategy. The highlight of the period was the launch of Maxigesic IV/Combogesic IV in Canada, marking the beginning of direct sales in North America. This, along with the expanded licensing and profit-share agreement with Hikma in May 2025 (to include distribution of Combogesic Rapid in the US), provides AFT with a solid foundation to expand its footprint in these key global markets. The period also saw notable R&D progress including a pre-investigational new drug (IND) filing with the FDA for AFT’s antibiotic eyedrop targeting resistant ocular infections (eg MRSA), and preparations for filings related to its strawberry birthmarks topical (pre-IND) treatment and the Phase-III ready novel injectable iron therapy. A paediatric study of Maxigesic IV is also planned, which could expand the addressable patient populations.

• Earth Science Tech, Inc. (ETST) is a strategic holding company, with wholly-owned subsidiaries operating in the compounding pharmaceutical (RxCompoundStore.com, MisterMeds.com), telehealth (Peaks Curative, Las Villas Health Care, DOConsultations.com), real estate (Avenvi), and consumer products (Magnefuse) sectors.
• Senior executives remain focused on managing and optimizing company operations, as well as acquiring complementary assets.
• The firm was incorporated in 2010, with headquarters in Miami, Florida.

• Achieve Life Sciences is developing cytisinicline for use as a smoking cessation treatment in the United States and rest of world.
• Topline results from ORCA-2 were reported in April 2022 and for ORCA-3 in May 2023.
• Results exceeded expectations on safety & efficacy parameters.

• Structural growth and challenges are in focus this week for In Brief’s stock snacks with those companies benefitting from longer term trends or impeded by uncertainty