In today’s briefing:
- Omada Health: 2Q’FY25 Net Loss Narrowed, Strong Progress Towards Adj. EBITDA Profitability
- China Healthcare Weekly (Aug.10)-Trump Plans Drug Tariff, Biosimilar VBP, BeiGene’s Headwind in 25Q2
- Bristol-Myers Squibb Advances Immunology Pipeline – Could Sotyktu & Cell Therapies Up The Ante?
- Kringle Pharma Inc (4884 JP): Q3 FY09/25 flash update
- Option Care Health: A Cutting-Edge Practitioner Model That Slashes Costs But What’s The Margin Impact In 2025?
- ResMed: Accelerating Global Expansion With Strong Growth in Europe & China!
- Stryker Corporation: Strategic Acquisitions & Organic Launches to Adapt To Changing Market Demands & Needs!
- AbbVie’s Skyrizi Surge: The Blockbuster Drug Defying Expectations & Dominating New Markets!
- Y-mAbs’ $412 Million Take-Private Bid By SERB: The 4 Synergies That Spell Big Profits
- Alnylam Pharmaceuticals’ AMVUTTRA Drives $1 Billion TTR Growth – Can It Up The Game In Cardiomyopathy Treatment?
Omada Health: 2Q’FY25 Net Loss Narrowed, Strong Progress Towards Adj. EBITDA Profitability
- San Francisco-based Omada Health reported stronger than expected 2Q’FY25 revenues of $61.4M as a public company. Management provided FY25 revenue and adj. EBITDA guidance.
- In May, Omada Health announced a new AI-agent, OmadaSpark. A member-facing AI agent directly works with Omada members. It was trained on ~3M foods and dishes.
- The company expects adj. EBITDA loss in the range of $9M to $5M in FY25. I forecast FCF losses to steadily dissipate until Omada Health becomes FCF positive in FY26.
China Healthcare Weekly (Aug.10)-Trump Plans Drug Tariff, Biosimilar VBP, BeiGene’s Headwind in 25Q2
- Trump threatened to levy tariffs on pharmaceuticals, but the BD model of Chinese innovative drugs will be less affected, because the essence is licensing-out model, not physical drug exports.
- The long-awaited national VBP of biosimilar drugs has moved from policy incubation period to substantive operation stage, which is expected to change the market structure after big price reduction.
- BeiGene’s 25Q2 results beat expectations. Reasonable market value is about US$40-42.4 billion. However, the market is reluctant to offer higher valuation due to the concerns on the outlook of BeiGene.
Bristol-Myers Squibb Advances Immunology Pipeline – Could Sotyktu & Cell Therapies Up The Ante?
- Bristol-Myers Squibb reported notable second-quarter performance for 2025, illustrating both encouraging advances and some areas of concern.
- On the positive side, the company showed strong growth in its key oncology and cardiovascular portfolios, along with significant revenue gains in their newer therapeutic areas.
- Total company revenues reached approximately $12.3 billion, driven by a 17% increase in sales within the growth portfolio.
Kringle Pharma Inc (4884 JP): Q3 FY09/25 flash update
- Revenue and gross profit for cumulative Q3 FY09/25 were JPY54mn, down 12.4% YoY, with SG&A expenses up 23.6%.
- Operating, recurring, and net losses increased YoY, with operating loss at JPY739mn, compared to JPY580mn prior year.
- Current assets decreased by JPY672mn due to R&D expenses, while fixed liabilities rose by JPY140mn from end-FY09/24.
Option Care Health: A Cutting-Edge Practitioner Model That Slashes Costs But What’s The Margin Impact In 2025?
- The earnings for Option Care Health for the second quarter of 2025 highlights a period marked by notable financial and operational performance, underscored by several challenges and growth opportunities.
- Financially, the company demonstrated robust topline growth with revenues increasing by 15% compared to the prior year, driven by balanced performance in both acute and chronic therapies.
- The acute therapy segment saw mid-teen growth, outpacing general market expectations, suggesting market share gains potentially due to industry consolidations and changes in competitive dynamics.
ResMed: Accelerating Global Expansion With Strong Growth in Europe & China!
- ResMed’s fourth quarter fiscal year 2025 results present a balanced outlook for potential investors, highlighting a mix of strong financial performance and strategic challenges.
- The company reported a 10% year-over-year increase in headline revenue and a 230 basis point expansion in gross margin, indicating strong operational execution and cost management.
- This growth was fueled by robust demand across its product and ReSupply portfolios, with notable performance in both the U.S., Canada, Latin America, and internationally.
Stryker Corporation: Strategic Acquisitions & Organic Launches to Adapt To Changing Market Demands & Needs!
- Stryker Corporation’s second quarter of 2025 results underscore the company’s strong standing amidst varying market conditions.
- The company achieved double-digit organic sales growth of 10.2% alongside a 11.4% growth in adjusted earnings per share (EPS), which is commendable given the challenges like tariffs, non-recurring engineering (NRE) dilution, and strategic divestitures in the spinal implants sector.
- Positive trends were observed across Stryker’s diverse product portfolio.
AbbVie’s Skyrizi Surge: The Blockbuster Drug Defying Expectations & Dominating New Markets!
- AbbVie recently reported its financial results for the second quarter of 2025, showcasing both achievements and challenges.
- AbbVie posted an adjusted earnings per share of $2.97, which surpassed their guidance midpoint by $0.11.
- Total net revenues came in at $15.4 billion, exceeding expectations by over $400 million.
Y-mAbs’ $412 Million Take-Private Bid By SERB: The 4 Synergies That Spell Big Profits
- Y-mAbs Therapeutics hosted its financial results discussion for the first quarter of 2025, revealing various developmental and commercial strategies.
- The company has organized its operations into two distinct business units: DANYELZA, a therapeutic for high-risk neuroblastoma, and Radiopharmaceuticals, focusing on the development of its novel SADA PRIT platform.
- This restructuring aims to optimize resource allocation and maximize the potential of each unit.
Alnylam Pharmaceuticals’ AMVUTTRA Drives $1 Billion TTR Growth – Can It Up The Game In Cardiomyopathy Treatment?
- Alnylam Pharmaceuticals, a leading biopharmaceutical company, reported its second-quarter 2025 financial results, showcasing significant progress across its business segments.
- The company’s performance was driven by several factors, including the strong launch of AMVUTTRA for ATTR-cardiomyopathy (CM) in the U.S., advancements in its RNAi therapeutic pipeline, and robust financial execution.
- This analysis provides an investment thesis accompanied by a summary of the results, focusing on the key outcomes and strategic direction of Alnylam.
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