Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/samsung-biologics-co-ltd" target="_blank" data-smartkarma-citation="entities:22932:1" rel="noopener">Samsung Biologics (207940 KS)</a> reported mixed 1Q24 result, with revenue beating and operating profit missing estimates. Despite robust revenue growth, profitability is under pressure.</li>
<li>With accumulated orders exceeding $12.5B (vs $12B at the end of 2023), the outlook remains strong. A gradual increase in Plant 4 operations is expected to drive sequential revenue growth.</li>
<li>On April 23, Samsung Bioepis received marketing approval from European Commission (EC) for Pyzchiva, a biosimilar of Stelara, thereby becoming an early mover in a potential €2.5B market.</li>
</ul>



Samsung Biologics (207940 KS) reported mixed 1Q24 result, with revenue beating and operating profit missing estimates. Despite robust revenue growth, profitability is under pressure.
With accumulated orders exceeding $12.5B (vs $12B at the end of 2023), the outlook remains strong. A gradual increase in Plant 4 operations is expected to drive sequential revenue growth.
On April 23, Samsung Bioepis received marketing approval from European Commission (EC) for Pyzchiva, a biosimilar of Stelara, thereby becoming an early mover in a potential €2.5B market.


Samsung Biologics (207940 KS): Mixed 1Q24 Result; Order Book Swells; New Drug Approval in Europe

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

<ul>
<li>Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).</li>
<li>We assess Stada's ESG as "Adequate", in line with its Environmental, Social and Governance scores. Controversies are "Material" and Disclosure is "Adequate".</li>
<li>Stada is a leading pharmaceuticals company headquartered in Bad Vilbel, Germany. It manufactures and sells a diverse range of generic and branded products across 125 countries globally.</li>
</ul>


Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).
We assess Stada's ESG as "Adequate", in line with its Environmental, Social and Governance scores. Controversies are "Material" and Disclosure is "Adequate".
Stada is a leading pharmaceuticals company headquartered in Bad Vilbel, Germany. It manufactures and sells a diverse range of generic and branded products across 125 countries globally.


<ul>
<li>Aztiq and Innobic have formally become the leading shareholder of  <a href="https://www.smartkarma.com/entities/lotus-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:20568:1" rel="noopener">Lotus Pharmaceutical (1795 TT)</a>, with the controlling stake of 51%. New ownership will accelerate the growth and expansion of Lotus.</li>
<li>Lotus has created a niche for itself through its focus on oral oncology drug. Launch of Lenalidomide in 14 European countries drove 31% q/q growth in export revenue in Q1.</li>
<li>Continued strong uptake of the company’s newly acquired drug Cialis in Taiwan and bevacizumab biosimilar launch in Korea and Taiwan should boost its Asian business revenue.</li>
</ul>


Aztiq and Innobic have formally become the leading shareholder of  Lotus Pharmaceutical (1795 TT), with the controlling stake of 51%. New ownership will accelerate the growth and expansion of Lotus.
Lotus has created a niche for itself through its focus on oral oncology drug. Launch of Lenalidomide in 14 European countries drove 31% q/q growth in export revenue in Q1.
Continued strong uptake of the company’s newly acquired drug Cialis in Taiwan and bevacizumab biosimilar launch in Korea and Taiwan should boost its Asian business revenue.


Lotus Pharmaceutical (1795 TT): Ready for Next Phase of Growth with New Ownership and Product Launch

Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Event-Driven

On 10 April 2017, <a href="https://www.smartkarma.com/entities/21706" target="_blank" data-smartkarma-citation="entities:21706:1">STADA Arzneimittel AG (SAZ GR)</a>'s executive board announced that it was supporting a EUR 66 offer (EUR 65.28 + 0.72 in divs) from Bain Capital &amp; Cinven (the "Consortium"). This came after a bidding process involving PE firms Advent, CVC and Bain + Cinven.Bain Capital + Cinven emerged as the winner bidders following thorough talks with interested parties and after an open, multistage and transparently structured bidding process. In this insight, we take a look at the transaction and give our opinion on the likelihood of a successful deal.

On 10 April 2017, STADA Arzneimittel AG (SAZ GR)'s executive board announced that it was supporting a EUR 66 offer (EUR 65.28 + 0.72 in divs) from Bain Capital &amp; Cinven (the "Consortium"). This came after a bidding process involving PE firms Advent, CVC and Bain + Cinven.Bain Capital + Cinven emerged as the winner bidders following thorough talks with interested parties and after an open, multistage and transparently structured bidding process. In this insight, we take a look at the transaction and give our opinion on the likelihood of a successful deal. 

STADA - Bain+Cinven Emerge as the Winning Bidders

Germany

Stada Arzneimittel AG manufactures pharmaceuticals.  The Company produces generics (products whose patents have expired), brand-name products, and cancer therapy and other special pharmaceuticals.  Stada avoids cost-intensive research on active ingredients and concentrates on multi-source products.  The Company markets its products worldwide.

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STADA Arzneimittel AG (SAZ GR)

Samsung Biologics (207940 KS): Mixed 1Q24 Result; Order Book Swells; New Drug Approval in Europe

Samsung Biologics 1Q24 sales and net profit surpassed estimates, while op. profit missed. With $12B order book, outlook remains robust. The company...

Tina Banerjee

Stada - ESG Report - Lucror Analytics

Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable). We assess Stada's ESG as...

Lucror Analytics

Lotus Pharmaceutical (1795 TT): Ready for Next Phase of Growth with New Ownership and Product Launch

Lotus has already created a compelling position in ASEAN, which has been further augmented by oral oncology drug launch in Europe. New ownership...

Tina Banerjee

STADA - Bain+Cinven Emerge as the Winning Bidders

On 10 April 2017, STADA Arzneimittel AG (SAZ GR)'s executive board announced that it was supporting a EUR 66 offer (EUR 65.28 + 0.72 in divs) from...

Crispin Francis

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