In today’s briefing:
- Shanghai Henlius Biotech (2696 HK) – LVC Increased Its Holding of Henlius Again
- Dr Agarwal’s Healthcare IPO Trading – Decent Anchor Demand but Subdued Overall Coverage
- Alteogen (196170 KS): More ALT-B4 Licensing Deal to Follow; Fund Raise Wipes Off Uncertainty
- Cardinal Health: Expanding Specialty Services To Change The Game! – Major Drivers
- ResMed: How Sleep Apnea Awareness is Expanding Global Market Potential! – Major Drivers
- Thermo Fisher Scientific: Will Its Shift Toward Contract Research and Manufacturing Pay Off? – Major Drivers
Shanghai Henlius Biotech (2696 HK) – LVC Increased Its Holding of Henlius Again
- LVC increased its holding of Henlius by 1,110,900 shares on January 23, reflecting its high recognition of the Company and optimism on its prospects, despite the biosimilar VBP headwinds.
- Even with concerns, LVC still repeatedly invested in Henlius at a valuation far higher than its actual value, offering support with real money during pre-IPO stage.
- Lin Lijun’s dissenting vote was a deliberate decision. We are interested to see Lin’s next move. Lin should have a very clear understanding of the true value of Henlius.
Dr Agarwal’s Healthcare IPO Trading – Decent Anchor Demand but Subdued Overall Coverage
- Dr Agarwal’s Health Care Ltd (8140044Z IN) raised around US$350m in its India IPO.
- Dr Agarwal’s Health Care is a healthcare/hospital chain in India providing eyecare services, including surgeries; consultations, diagnoses, non-surgical treatments; and sells opticals, contact lens, accessories and eyecare related pharmaceutical products.
- We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.
Alteogen (196170 KS): More ALT-B4 Licensing Deal to Follow; Fund Raise Wipes Off Uncertainty
- In November 2024, Alteogen Inc (196170 KS) entered into an exclusive license agreement with Daiichi Sankyo for an upfront payment of $20M (KRW28B).
- With increasing number of players developing ADC drugs mainly targeting various cancers, we can expect more big-ticket licensing deals for ALT-B4, going ahead.
- On February 4, Alteogen has raised ~KRW155B through redeemable convertible preference shares. Over the last few months, Alteogen shares had a roller coaster ride due to fund raising rumors.
Cardinal Health: Expanding Specialty Services To Change The Game! – Major Drivers
- Cardinal Health, Inc.’s recent financial results offer a multifaceted view of the company’s current position and future potential in the healthcare industry.
- The company showcased strong performance in certain areas while facing challenges in others, leading to a complex investment outlook.
- A significant highlight from the results was the robust performance of the Pharmaceutical and Specialty Solutions segment.
ResMed: How Sleep Apnea Awareness is Expanding Global Market Potential! – Major Drivers
- ResMed Inc.’s second quarter fiscal year 2025 earnings presentation highlights several notable financial and operational results, alongside key strategic initiatives.
- From a performance standpoint, the company reported a global revenue increase of 10%, reaching $1.28 billion.
- This growth spanned ResMed’s key business sectors, including device sales, which rose by 11%, and masks and accessories, which grew by 11% as well.
Thermo Fisher Scientific: Will Its Shift Toward Contract Research and Manufacturing Pay Off? – Major Drivers
- For the fourth quarter of 2024, Thermo Fisher Scientific reported a 5% year-over-year growth in revenue, reaching $11.4 billion, alongside a 7% increase in adjusted operating income, which totaled $2.72 billion.
- This resulted in an adjusted operating margin expansion by 50 basis points to 23.9%.
- Moreover, adjusted earnings per share (EPS) grew by 8% to $6.10.
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