In today’s briefing:
- CR Sanjiu (000999.CH) To Acquire Tasly Pharma (600535.CH) – SOEs Have High Enthusiasm for TCM Assets
- Celltrion (068270 KS): 2Q24 Result- Biosimilar Sales Roar; Operating Profit Recovers Sequentially
- Stryker Corporation: The Artelon Acquisition
- Bristol-Myers Squibb: Will The Enhanced Focus on Cell Therapy and Innovative Cancer Treatments Pay Off? – Major Drivers
CR Sanjiu (000999.CH) To Acquire Tasly Pharma (600535.CH) – SOEs Have High Enthusiasm for TCM Assets
- China Resources Sanjiu plans to acquire 28% stake in Tasly for RMB6.21 billion at RMB14.85/share. The acquisition of Tasly is in line with the strategic direction of 14th Five-Year Plan.
- China Resources is positioned as a leading enterprise in modern industrial chain of TCM by the SASAC.Due to policy support, TCM assets are more likely to be favored by SOEs.
- The deal is positive for Tasly, whose valuation has room to rise further, but the market seems “skeptical” about China Resources Sanjiu’s decision, leading to a lackluster share price reaction.
Celltrion (068270 KS): 2Q24 Result- Biosimilar Sales Roar; Operating Profit Recovers Sequentially
- Celltrion Inc (068270 KS) posted revenue of KRW875B in 2Q24, driven by balanced growth in both the existing core and new biosimilar products.
- Operating profit ‘temporarily’ declined 60% YoY due to the ongoing impact of the merger. However, operating profit improved by a massive 371% sequentially.
- Celltrion maintains its 2024 revenue target of KRW3.5T (+60% YoY). The improvement in sales and operating profit in the second half of the year is expected to become increasingly evident.
Stryker Corporation: The Artelon Acquisition
- Stryker Corporation has released its earnings for the second quarter of 2024, showing a robust performance marked by a strong organic growth sales of 9% year-over-year.
- The diversified medical technology company’s balanced growth across its MedSurg and Neurotechnology and Orthopaedics and Spine segments underpins its broad performance and robust demand for its products.
- The global organic growth was evenly distributed with both U.S. and international markets expanding by approximately 9%.
Bristol-Myers Squibb: Will The Enhanced Focus on Cell Therapy and Innovative Cancer Treatments Pay Off? – Major Drivers
- Bristol-Myers Squibb reported its second quarter 2024 earnings showcasing continued execution of its long-term strategy aimed at fostering sustainable growth.
- The company highlighted an 18% year over-year increase in its growth portfolio revenues, amounting to a 21% rise when excluding the impact of foreign exchange.
- This bolstered growth originated largely from several marketed products gaining traction in the market.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
