Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/helixmith-co-ltd" target="_blank" data-smartkarma-citation="entities:7636:1" rel="noopener">Helixmith (084990 KS)</a> shares have been sliding since end of June due to delay in receiving the recommendation from the U.S. data monitoring committee for its phase 3 clinical trial.</li>
<li>On August 18, Helixmith received recommendation to continue phase 3 clinical trial of its lead candidate Engensis (VM202) for diabetic peripheral neuropathy, thereby removing the overhang.</li>
<li>Engensis has attracted high interest from investors, as it is targeting a large addressable patient population of nearly 8.5 million in the U.S. alone, with high unmet medical need.  </li>
</ul>



Helixmith (084990 KS) shares have been sliding since end of June due to delay in receiving the recommendation from the U.S. data monitoring committee for its phase 3 clinical trial.
On August 18, Helixmith received recommendation to continue phase 3 clinical trial of its lead candidate Engensis (VM202) for diabetic peripheral neuropathy, thereby removing the overhang.
Engensis has attracted high interest from investors, as it is targeting a large addressable patient population of nearly 8.5 million in the U.S. alone, with high unmet medical need.  


Helixmith (084990 KS): Overhang on Phase 3 Clinical Trial Uncertainty Got Removed

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Bristol Myers Squibb Co / Equity Bottom-Up

<ul><li>Bristol-Myers has continued its efforts towards expanding its new product range, in-line franchises, pipeline, and carried out critical business growth initiatives.</li><li>This result was fuelled by their in-line and new product portfolio's 16% solid growth, which more than made up for their recent LOEs.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Bristol-Myers has continued its efforts towards expanding its new product range, in-line franchises, pipeline, and carried out critical business growth initiatives.This result was fuelled by their in-line and new product portfolio's 16% solid growth, which more than made up for their recent LOEs.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Bristol-Myers Squibb: Acquisition of Turning Point Therapeutics & Other Developments

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

<ul>
<li>Microsoft Corporation is the most widely held stock among active US equity investors. Of the 297 active strategies in our analysis, 80.1% own Microsoft at an average weight of 5.10%</li>
<li>There is a growing dispersion between Value and Growth managers in MSFT.  Growth managers are at record levels of ownership, whereas Value managers are running their largest underweight on record.</li>
<li>US Growth managers are relying on Microsoft to deliver an increasing proportion of the Growth within their portfolios. The cost of that growth is coming under scrutiny by Value managers</li>
</ul>


Microsoft Corporation is the most widely held stock among active US equity investors. Of the 297 active strategies in our analysis, 80.1% own Microsoft at an average weight of 5.10%
There is a growing dispersion between Value and Growth managers in MSFT.  Growth managers are at record levels of ownership, whereas Value managers are running their largest underweight on record.
US Growth managers are relying on Microsoft to deliver an increasing proportion of the Growth within their portfolios. The cost of that growth is coming under scrutiny by Value managers


Microsoft: Growth Bulls Versus Value Bears

<ul>
<li>Comirnaty had had a significant positive impact on <a href="https://www.smartkarma.com/entities/pfizer-inc" target="_blank" data-smartkarma-citation="entities:1131:1" rel="noopener">Pfizer Inc (PFE US)</a>’s revenue in 2021. 2022 will be no different. However, outlook for COVID-19 vaccine is uncertain beyond 2022.</li>
<li>Apart from the existing blockbuster fast-growing drugs, Pfizer has a rich late-stage pipeline. Its alopecia areata drug candidate, ritlecitinib has potential to become a blockbuster drug.  </li>
<li>Pfizer aims to add $25 billion revenue to its 2030 top-line expectations. Thus far, the company has announced two deals toward this ambition, entailing potential revenue addition of $7.5 billion.</li>
</ul>


Comirnaty had had a significant positive impact on Pfizer Inc (PFE US)’s revenue in 2021. 2022 will be no different. However, outlook for COVID-19 vaccine is uncertain beyond 2022.
Apart from the existing blockbuster fast-growing drugs, Pfizer has a rich late-stage pipeline. Its alopecia areata drug candidate, ritlecitinib has potential to become a blockbuster drug.  
Pfizer aims to add $25 billion revenue to its 2030 top-line expectations. Thus far, the company has announced two deals toward this ambition, entailing potential revenue addition of $7.5 billion.


Pfizer Inc (PFE US): What’s Lie Ahead of Comirnaty? Potential Blockbuster Drugs in Pipeline

Thematic (Sector/Industry)

<ul>
<li>US Value funds rotate in to Health Care, pushing allocations to their highest levels on record.</li>
<li>The average Health Care allocation stands at 18.25%, with 71.4% of Value managers overweight at +3.11% above benchmark.  Health Care has become <strong>the</strong> conviction sector holding among US Value managers.</li>
<li>The most widely held stocks in the sector are Cigna Corp and Unitedhealth Group, owned by 55.7% and 52.9% of Value managers respectively.</li>
</ul>


US Value funds rotate in to Health Care, pushing allocations to their highest levels on record.
The average Health Care allocation stands at 18.25%, with 71.4% of Value managers overweight at +3.11% above benchmark.  Health Care has become the conviction sector holding among US Value managers.
The most widely held stocks in the sector are Cigna Corp and Unitedhealth Group, owned by 55.7% and 52.9% of Value managers respectively.


United States

Bristol-Myers Squibb Company is a global biopharmaceutical company. The Company develops, licenses, manufactures, markets, and sells pharmaceutical and nutritional products. Bristol Myers Squibb focuses on products and experimental therapies address cancer, heart disease, HIV and AIDS, diabetes, rheumatoid arthritis, hepatitis, organ transplant rejection, and psychiatric disorders.

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Bristol-Myers Squibb (BMY UN)

Helixmith (084990 KS): Overhang on Phase 3 Clinical Trial Uncertainty Got Removed

Helixmith has received much awaited IDMC recommendations for phase 3 clinical trial for its lead candidate Engensis in diabetic neuropathy in US,...

Tina Banerjee

Bristol-Myers Squibb: Acquisition of Turning Point Therapeutics & Other Developments

Bristol-Myers has continued its efforts towards expanding its new product range, in-line franchises, pipeline, and carried out critical business...

Baptista Research

Microsoft: Growth Bulls Versus Value Bears

US Growth managers are relying on Microsoft to deliver an increasing proportion of the Growth within their portfolios. The cost of that growth is...

Steven Holden

Pfizer Inc (PFE US): What’s Lie Ahead of Comirnaty? Potential Blockbuster Drugs in Pipeline

By leveraging on windfall gains from COVID portfolio, Pfizer is developing additional growth spots for future revenue growth. Its pipeline and...

Tina Banerjee

US Value Funds Rotate in to Health Care

US Value managers have made an active rotation in to the Health Care sector, pushing allocations to their highest levels on record.

Steven Holden

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