In today’s briefing:
- United Laboratories International Holdings Placement (3933.HK) – Valuation Pullback Seems Inevitable
- Gilead Sciences Inc.: The Unstoppable Growth Machine in Virology and Oncology! – Major Drivers
- CellSource (4880) TOPIX Inclusion Coming Up
- 10 in 10 with Pasture Holdings Meeting demands of global healthcare system
- SK Biopharmaceuticals (326030 KS): Solid Growth in Xcopri US Sales in 2Q23; Operating Loss Narrowed
- Eli Lilly and Company: Will The Acquisition Of DICE Therapeutics Become A Growth Catalyst? – Major Drivers
- ResMed Inc.: Will The Acquisition of Somnoware Up The Respiratory Diagnostics Game? – Major Drivers
- Pre-IPO Shulan Health Management – Hard to Bring Investors Expected Returns Due to Poor Profit Model
- Bio-Techne Corporation: The Lunaphore Acquisition & Enhanced Spatial Biology Capabilities! – Major Drivers
United Laboratories International Holdings Placement (3933.HK) – Valuation Pullback Seems Inevitable
- Last year, United Lab mainly relied on antibiotics to make money. However, after the pandemic is under control, antibiotic sales may decline. United Lab’s performance could be under pressure.
- As a late comer, sales of United Lab’s weight management products could be lower than expected in the future under increasing competition. The veterinary drugs business requires time to cultivate.
- RMB12 billion market value of United Lab has priced in all positive factors.There could be a pullback in valuation. RMB6 billion market value is a safe place to go long.
Gilead Sciences Inc.: The Unstoppable Growth Machine in Virology and Oncology! – Major Drivers
- Gilead Sciences Inc. delivered mixed results for the previous quarter, with revenues above the analyst consensus.
- Total product sales, excluding Veklury, displayed significant growth, extending the company’s streak of seven consecutive quarters with year-over-year growth in its base business.
- Despite an anticipated decrease in Veklury sales due to reduced hospitalizations, the total product sales, including Veklury, also showed a substantial year-over-year increase.
CellSource (4880) TOPIX Inclusion Coming Up
- Today, regenerative medicine service provider CellSource (4880 JP) announced a forecast revision lower for the year ending 31 October. It also announced a new dividend policy and dividend payout.
- It also announced an equity offering of up to 3.542mm shares, increasing float by 60% followed by a move from the TSE Growth segment to TSE Prime.
- The dynamics of shareholder structure and flow mean one can wait this one out.
10 in 10 with Pasture Holdings Meeting demands of global healthcare system
10 in 10 with Pasture Holdings Meeting demands of global healthcare system
SK Biopharmaceuticals (326030 KS): Solid Growth in Xcopri US Sales in 2Q23; Operating Loss Narrowed
- In 2Q23, Xcopri U.S. sales increased 57% YoY and 18% QoQ to KRW63.4B, marking the 13th consecutive quarter of growth since the company launched Xcopri in the U.S. in May’20.
- Operating loss narrowed for the second consecutive quarters to KRW18.9B from KRW22.7B in 1Q23 and KRW40.1B in 2Q22. The company is on track to swing back to black in 4Q23.
- SK Biopharmaceuticals (326030 KS) entered licensing agreement with Hikma Pharmaceuticals (HIK LN) to commercialize Xcopri in 16 countries in MENA, including Saudi Arabia, Egypt, and Algeria – three biggest epilepsy markets.
Eli Lilly and Company: Will The Acquisition Of DICE Therapeutics Become A Growth Catalyst? – Major Drivers
- Eli Lilly and Company managed to surpass the revenue and earnings expectations of Wall Street.
- Eli Lilly made progress on its ambitious manufacturing plan, advanced its R&D pipeline, and produced positive financial results.
- Furthermore, Eli Lilly announced that commercial production in its Research Triangle Park facility in North Carolina has started supporting its incretin portfolio.
ResMed Inc.: Will The Acquisition of Somnoware Up The Respiratory Diagnostics Game? – Major Drivers
- ResMed Inc. delivered a disappointing set of results as the company was unable to meet the revenue and earnings expectations of Wall Street.
- Group revenue reached $1.12 billion, reflecting a notable 23% increase on a headline basis and in constant currency.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
Pre-IPO Shulan Health Management – Hard to Bring Investors Expected Returns Due to Poor Profit Model
- Private general hospitals are the core business of Shulan, but the business model for general hospitals is not good – heavy assets, challenging operations, low profits, difficult to expand nationwide.
- Even with the endorsement of renowned academician Dr. Li Lanjuan, whether Shulan’s hospitals can attract constantly sufficient patient flow remains a question. Most patients still prioritize public hospitals for treatment.
- Due to the lack of solid profit model and expansion model, we’re not optimistic about Shulan’s profitability and future financial performance. Shulan may be in a state of long-term loss.
Bio-Techne Corporation: The Lunaphore Acquisition & Enhanced Spatial Biology Capabilities! – Major Drivers
- Bio-Techne Corporation concluded the last quarter with a commendable 5% organic growth, mirroring its overall performance for fiscal year 2023.
- Geographically, North America faced headwinds due to reduced biotech funding, while Europe sustained a positive growth trajectory.
- Bio-Techne’s success extended to its growth platforms, with the cell and gene therapy business growing over 20% for the fiscal year, underscoring its robust performance in a challenging funding environment.
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