Leading Independent Investment Research, Morningstar, Inc.

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Leading Independent Investment Research

Morningstar, Inc.

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Equity Bottom-Up

<ul><li>Mesoblast's Japanese partner, JCR Pharmaceuticals, has announced that its acute Graft versus Host Disease, or aGvHD, product, JR-031, was recommended for approval by the Committee on Regenerative Medicine Products and Biological Technology of Pharmaceutical Affairs and Food Sanitation Council of the Japan Ministry of Health, Labour and Welfare.</li><li>JCR Pharmaceuticals expects marketing approval to be granted shortly.</li><li>This would clear the way for a potential commercial launch in Japan by the end of 2015, heralding the first allogeneic cell-based product to reach the market in Japan.</li><li>Under the arrangement with Mesoblast, JCR Pharmaceuticals has exclusive Japanese rights and bears all costs to manufacture, develop and market JR-031 for steroid-refractory aGvHD in Japan.</li><li>In return, Mesoblast is entitled to undisclosed milestones on regulatory filing and approval, milestones on achievement of predetermined net sales levels, plus future royalties.</li></ul>Analyst: Chris Kallos, CFASector Head: Daniel MuellerFull report below the fold....

Mesoblast's Japanese partner, JCR Pharmaceuticals, has announced that its acute Graft versus Host Disease, or aGvHD, product, JR-031, was recommended for approval by the Committee on Regenerative Medicine Products and Biological Technology of Pharmaceutical Affairs and Food Sanitation Council of the Japan Ministry of Health, Labour and Welfare.JCR Pharmaceuticals expects marketing approval to be granted shortly.This would clear the way for a potential commercial launch in Japan by the end of 2015, heralding the first allogeneic cell-based product to reach the market in Japan.Under the arrangement with Mesoblast, JCR Pharmaceuticals has exclusive Japanese rights and bears all costs to manufacture, develop and market JR-031 for steroid-refractory aGvHD in Japan.In return, Mesoblast is entitled to undisclosed milestones on regulatory filing and approval, milestones on achievement of predetermined net sales levels, plus future royalties.Analyst: Chris Kallos, CFASector Head: Daniel MuellerFull report below the fold....

Major Milestone Ahead for Mesoblast as Japanese Partner Moves Closer to Market with JR-031

Founder Evidente. Top rated quantitative analyst, Evidente

Sam Ferraro

Founder Evidente. Top rated quantitative analyst

Evidente

Evidente is an independent financial education firm that delivers innovative financial advice to wholesale investors, including active long only funds, hedge funds, pension funds, and sovereign wealth funds, in Australia and globally.  Drawing on academic research in asset pricing, behavioural finance and portfolio construction, Evidente provides wholesale investors with commercial solutions to stock selection and asset allocation decisions across equities and other asset classes.

Macroeconomics

The Government's release&nbsp;of Re:think,&nbsp;its tax discussion paper, is a welcome development, designed to kick-start the conversation with the community on a range of reform options designed to&nbsp;achieve a simpler&nbsp;and&nbsp;streamlined&nbsp;tax system&nbsp;capable of meeting the growing needs of an ageing population.&nbsp;&nbsp;&nbsp;I discuss some of the areas raised in Re:think which are of greatest interest to equity investors: how important income and consumption taxes are to Australia's tax take in a global context,&nbsp;the prospect of the growing drag from bracket creep on household disposable incomes (discretionary retailers), the outlook for the GST (supermarket&nbsp;retailers),&nbsp;the efficacy and viability of the dividend imputation system (high yielders with predominantly domestically oriented operations), the sustainability of the concessional tax treatment of superannuation (asset managers), and the risk associated with companies that have low effective tax rates.

The Government's release&nbsp;of Re:think,&nbsp;its tax discussion paper, is a welcome development, designed to kick-start the conversation with the community on a range of reform options designed to&nbsp;achieve a simpler&nbsp;and&nbsp;streamlined&nbsp;tax system&nbsp;capable of meeting the growing needs of an ageing population.&nbsp;&nbsp;&nbsp;I discuss some of the areas raised in Re:think which are of greatest interest to equity investors: how important income and consumption taxes are to Australia's tax take in a global context,&nbsp;the prospect of the growing drag from bracket creep on household disposable incomes (discretionary retailers), the outlook for the GST (supermarket&nbsp;retailers),&nbsp;the efficacy and viability of the dividend imputation system (high yielders with predominantly domestically oriented operations), the sustainability of the concessional tax treatment of superannuation (asset managers), and the risk associated with companies that have low effective tax rates.

Australia

Mesoblast Limited provides biomedical services. The Company develops drugs for cardiovascular diseases, oncology, hematology, and spine orthopedic disorders treatment. Mesoblast conducts its business worldwide.

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Mesoblast Ltd (MSB AU)

Major Milestone Ahead for Mesoblast as Japanese Partner Moves Closer to Market with JR-031

Mesoblast's Japanese partner, JCR Pharmaceuticals, has announced that its acute Graft versus Host Disease, or aGvHD, product, JR-031, was...

Morningstar, Inc.

Taxing Times For Australia

The Government's release of Re:think, its tax discussion paper, is a welcome development, designed to kick-start the conversation with the...

Sam Ferraro

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