Global Healthcare Analyst

Tina Banerjee

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dr-reddy-s-laboratories-ltd" target="_blank" data-smartkarma-citation="entities:16406:1" rel="noopener">Dr. Reddy's Laboratories (DRRD IN)</a> entered into a definitive agreement to acquire the U.S. retail generic prescription product portfolio of <a href="https://www.smartkarma.com/entities/mayne-pharma-group-ltd" target="_blank" data-smartkarma-citation="entities:757:1" rel="noopener">Mayne Pharma (MYX AU)</a> for $105M.</li>
<li>The deal will add approximately 85 approved generic products and four pipeline products. For the fiscal year ending June 30, 2022, this portfolio generated revenue of $111M.</li>
<li>Considering the revenue potential, the acquisition price seems to be reasonable. Being a high margin and limited competition portfolio, the acquisition will be earnings accretive for Dr. Reddy’s.</li>
</ul>



Dr. Reddy's Laboratories (DRRD IN) entered into a definitive agreement to acquire the U.S. retail generic prescription product portfolio of Mayne Pharma (MYX AU) for $105M.
The deal will add approximately 85 approved generic products and four pipeline products. For the fiscal year ending June 30, 2022, this portfolio generated revenue of $111M.
Considering the revenue potential, the acquisition price seems to be reasonable. Being a high margin and limited competition portfolio, the acquisition will be earnings accretive for Dr. Reddy’s.


Dr. Reddy's Laboratories (DRRD IN): New Acquisition to Bolster US Generic Product Portfolio

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mankind-pharma-ltd" target="_blank" data-smartkarma-citation="entities:36389:1" rel="noopener">Mankind Pharma</a> is looking to raise around US$1bn in its upcoming India IPO.</li>
<li>MP is a pharmaceutical company engaged in developing, manufacturing and marketing a range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.</li>
<li>We have looked at the company background and undertaken a peer comparison in our previous notes. In this note, we will talk about valuations.</li>
</ul>



Mankind Pharma is looking to raise around US$1bn in its upcoming India IPO.
MP is a pharmaceutical company engaged in developing, manufacturing and marketing a range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.
We have looked at the company background and undertaken a peer comparison in our previous notes. In this note, we will talk about valuations.


Mankind Pharma Pre-IPO - Thoughts on Valuations

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mankind-pharma-ltd" target="_blank" data-smartkarma-citation="entities:36389:1" rel="noopener">Mankind Pharma</a> is looking to raise about US$1bn in its upcoming India IPO.</li>
<li>MP is a pharmaceutical company engaged in developing, manufacturing and marketing a range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Mankind Pharma is looking to raise about US$1bn in its upcoming India IPO.
MP is a pharmaceutical company engaged in developing, manufacturing and marketing a range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.
In this note, we talk about the not-so-positive aspects of the deal.


Mankind Pharma Pre-IPO - The Negatives - Recent Updates Weren't Great

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mankind-pharma-ltd" target="_blank" data-smartkarma-citation="entities:36389:1" rel="noopener">Mankind Pharma</a>  is looking to raise about US$1bn in its upcoming India IPO.</li>
<li>MP is a pharmaceutical company engaged in developing, manufacturing and marketing a range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Mankind Pharma  is looking to raise about US$1bn in its upcoming India IPO.
MP is a pharmaceutical company engaged in developing, manufacturing and marketing a range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.
In this note, we talk about the positive aspects of the deal.


Mankind Pharma Pre-IPO - The Positives - Diverse Portfolio with Steady past Performance

Sun Pharmaceutical Industries / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sun-pharmaceutical-industries-limited" target="_blank" data-smartkarma-citation="entities:98:1" rel="noopener">Sun Pharmaceutical Industries (SUNP IN)</a> is acquiring the U.S.-based late-stage biotechnology company, <a href="https://www.smartkarma.com/entities/concert-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:9312:1" rel="noopener">Concert Pharmaceuticals (CNCE US)</a> for $576M in equity value. The transaction is expected to be completed in 1Q23.</li>
<li>Concert has completed the evaluation of the efficacy and safety of its lead candidate, deuruxolitinib in adult patients with moderate to severe Alopecia Areata in its phase 3 clinical program.</li>
<li>With the disease affecting up to ~1.5M people in the U.S., Alopecia represents potential blockbuster opportunity. Sun Pharma plans to file NDA for deuruxolitinib to the FDA in 1H23.</li>
</ul>



Sun Pharmaceutical Industries (SUNP IN) is acquiring the U.S.-based late-stage biotechnology company, Concert Pharmaceuticals (CNCE US) for $576M in equity value. The transaction is expected to be completed in 1Q23.
Concert has completed the evaluation of the efficacy and safety of its lead candidate, deuruxolitinib in adult patients with moderate to severe Alopecia Areata in its phase 3 clinical program.
With the disease affecting up to ~1.5M people in the U.S., Alopecia represents potential blockbuster opportunity. Sun Pharma plans to file NDA for deuruxolitinib to the FDA in 1H23.


Sun Pharmaceutical Ind (SUNP IN): Acquisition Adds Late-Stage Biopharma Product in Derma Franchise

India

Sun Pharmaceutical Industries Limited manufactures and markets pharmaceuticals for domestic and international distribution. The Company's pharmaceutical portfolio includes drugs in the areas of diabetes, cardiology, neurology, psychiatry and  gastroenterology.

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Sun Pharmaceutical Industries (SUNP IN)

Dr. Reddy's Laboratories (DRRD IN): New Acquisition to Bolster US Generic Product Portfolio

Dr. Reddy's is acquiring the US generic prescription product portfolio of Mayne Pharma for upfront cash consideration of up to $90M. The acquired...

Tina Banerjee

Mankind Pharma Pre-IPO - Thoughts on Valuations

Mankind Pharma is looking to raise about US$1bn in its upcoming India IPO. In this note, we will talk about valuations.

Sumeet Singh

Mankind Pharma Pre-IPO - The Negatives - Recent Updates Weren't Great

Mankind Pharma is looking to raise about US$1bn in its upcoming India IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

Mankind Pharma Pre-IPO - The Positives - Diverse Portfolio with Steady past Performance

Mankind Pharma is looking to raise about US$1bn in its upcoming India IPO. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

Sun Pharmaceutical Ind (SUNP IN): Acquisition Adds Late-Stage Biopharma Product in Derma Franchise

Sun Pharma is acquiring US-based Concert Pharmaceuticals for $576M. Post-acquisition, the priority will be to materialize Concert’s plan to submit...

Tina Banerjee

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