In today’s briefing:
- 10x Genomics Inc.: Expansion into the Spatial Genomics Market & Other Major Drivers
- China Healthcare Weekly (July.14) – CXO’s Disputed Business Model, Remegen Shares Plunged, Kelun Bio
- Sam Chun Dang Pharm (000250 KS): Positive Momentum to Continue
- Halozyme Therapeutics: Expansion of ENHANZE Platform Partnerships & Recent Strategic Collaborations Can Catapult Them Forward! – Major Drivers
- Merit Medical Systems Inc.: FDA Approval & Commercial Strategy for WRAPSODY & Other Major Drivers
- Perrigo Company plc: A Dive Into Its Business Strategy & 5 Factors For Our ‘Buy’ Rating! – Financial Forecasts
- QuidelOrtho Corporation: How Are They Carrying Out The Expansion in Global Markets? – Major Drivers
- Blueprint Medicines: How Are They Executing Portfolio Diversification through Pipeline Development? – Major Drivers
- Enjin (7370 JP): Full-year FY05/24 flash update
10x Genomics Inc.: Expansion into the Spatial Genomics Market & Other Major Drivers
- 10x Genomics recently disclosed its financial results for the first quarter ended March 31, 2024, showcasing a revenue increase of 5% to $141 million.
- The company’s earnings overview indicates a mixed performance with significant developments in its product offerings that could influence its future market positioning, financial health, and competitive edge.
- Positively, 10x Genomics reported robust growth in its spatial biology segment, primarily fueled by its Visium franchise and the launch of Visium HD.
China Healthcare Weekly (July.14) – CXO’s Disputed Business Model, Remegen Shares Plunged, Kelun Bio
- One “unique” feature of China’s CXOs is that they like investment more than drug R&D business, but the investment-driven model will result in “interest-to-conflict”, which actually “crosses the line”.
- RemeGen’s shares plummet last week. In current situation of investors’ lack of confidence/trust in RemeGen, stock price may not have hit bottom yet, so no need to rush to bottom-fish.
- For Kelun Bio, if SKB264 fails to deliver good data, valuation would face the risk of pullback. After the lock-up expiry, there could be opportunity to buy at lower price.
Sam Chun Dang Pharm (000250 KS): Positive Momentum to Continue
- Sam Chun Dang Pharm (000250 KS) secured exclusive 10-year contract to supply Eylea biosimilar (SCD411) to nine European countries. The company will receive 55% of gross sales of the product.
- Last month, the company placed 500K shares (~2% of issued capital) to Shinhan Investment Securities to raise KRW71.4B. Proceeds will be utilized to fund the company’s global clinical trial cost.
- The company has started exporting generic glaucoma eye drop to the U.S. and expects to start exporting at least two more generic ophthalmic products in the U.S. this year.
Halozyme Therapeutics: Expansion of ENHANZE Platform Partnerships & Recent Strategic Collaborations Can Catapult Them Forward! – Major Drivers
- Halozyme reported a solid first quarter of 2024, marking a steady continuation of growth that aligns well with the company’s expectations and projected guidance for the remainder of the year.
- Key drivers of optimism included consistent royalty revenue growth, anticipated milestone payments, and robust projections for earnings before interest, taxes, depreciation, and amortization (EBITDA).
- With these foundational elements, Halozyme is poised for a promising financial trajectory, reinforced by ongoing business developments and strategic partnerships.
Merit Medical Systems Inc.: FDA Approval & Commercial Strategy for WRAPSODY & Other Major Drivers
- Merit Medical Systems experienced a robust first quarter in fiscal year 2024, exhibiting revenue growth of 8.7% year-over-year on a GAAP basis and 9.3% on a constant currency basis, resulting in total revenue of $323.5 million.
- This performance exceeded the company’s initial projections, primarily driven by solid organic growth and contributions from acquired products.
- Specifically, the Cardiovascular segment spearheaded this upward trend with a 9% increase, complemented by a 6% uptick in the Endoscopy segment.
Perrigo Company plc: A Dive Into Its Business Strategy & 5 Factors For Our ‘Buy’ Rating! – Financial Forecasts
- Perrigo’s first quarter 2024 financial results reflect a business in recovery and transition, marked by strategic initiatives aimed at long-term growth despite immediate challenges.
- The company reported a net sales decrease of 8%, primarily driven by its infant formula business and SKU prioritization actions.
- Organic net sales declined by 7%, with infant formula alone accounting for a 4.3 percentage point drop.
QuidelOrtho Corporation: How Are They Carrying Out The Expansion in Global Markets? – Major Drivers
- QuidelOrtho presented its First Quarter 2024 Financial Results, reflecting both strengths and challenges in its operations.
- The company reported total revenue of $711 million, a decline from $846 million in the comparable prior year period, primarily due to reduced COVID-19 related revenues.
- Despite this, excluded COVID-19 revenues showed a growth of 6% in constant currency across all regions, showcasing solid growth particularly in the EMEA and China regions.
Blueprint Medicines: How Are They Executing Portfolio Diversification through Pipeline Development? – Major Drivers
- Blueprint Medicines Corporation recently discussed its first-quarter financial results for 2024, emphasizing the robust launch of AYVAKIT in indolent systemic mastocytosis (ISM).
- While outlining its continuing growth and strategic initiatives, the company highlighted strengths across various fronts but also acknowledged ongoing challenges and strategic investments.
- Blueprint Medicines reported notable revenue growth driven primarily by AYVAKIT, its product for treating ISM.
Enjin (7370 JP): Full-year FY05/24 flash update
- FY05/24 revenue was JPY3.3bn, operating profit JPY1.0bn, recurring profit JPY1.1bn, and net income JPY749mn, all down YoY.
- Enjin’s FY05/25 forecast: revenue JPY2.7bn, operating profit JPY548mn, recurring profit JPY548mn, and net income JPY380mn, all expected to decline YoY.
- Enjin revised its medium-term business plan due to HR challenges and plans to release updated targets reflecting the current environment.
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