In today’s briefing:
- Estia Health: Bain’s Non-Binding Proposal
- Zydus Lifesciences (ZYDUSLIF IN): Strong India and US Momentum to Improve Margin and Drive Growth
- Hologic Inc.: Initiation of Coverage – Post-Pandemic Impact & Key Drivers
- Hologic Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- Wuxi Biologics (2269.HK) 2022 Results – Key Takeaways and the Outlook
Estia Health: Bain’s Non-Binding Proposal
- Aged care provider Estia Health (EHE AU) has appointed UBS to advise on Bain Capital’s $3.00/share non-binding proposal.
- The indicative Offer arrives a little over two months after Kerry Stokes-backed Seven Group Holdings (SVW AU) off-loaded its 10% stake at ~ $2.00/share.
- Separately, Regal Fund announced it has taken a 7% stake.
Zydus Lifesciences (ZYDUSLIF IN): Strong India and US Momentum to Improve Margin and Drive Growth
- Zydus Lifesciences Ltd (ZYDUSLIF IN) reported total revenue of INR43.6B, up by 20% YoY and 6% QoQ, in Q3FY23. Key markets, India and the U.S. continued to deliver robust performance.
- U.S. business is on track to register QoQ growth in near-term, with the launches of new products. Zydus plans to launch 2–3 transdermal products in U.S. in FY24.
- For its India business, the company aims to outperform the industry growth sustainably in the medium to long term. Lipaglyn is expected to be among top 25 products of India.
Hologic Inc.: Initiation of Coverage – Post-Pandemic Impact & Key Drivers
- This is our first report on Hologic, Inc., a renowned medical technology giant focused on women’s health.
- However, Breast Health lost 5.2%, indicating that its recovery from supply chain headwinds caused by chips is in progress.
- Their Women’s Health molecular diagnostics and cytology basis enable sustainable growth, foster beneficial connections with leading labs and key opinion leaders, and open the door for further innovative products.
Hologic Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- Hologic, Inc. is a well-known medical technology giant focused on women’s health.
- In Diagnostics, they maintained top positions in key product categories for women’s health, like STIs and cervical cancer.
- Their Women’s Health molecular diagnostics and cytology basis enable sustainable growth, foster beneficial connections with leading labs and key opinion leaders, and open the door for further innovative products.
Wuxi Biologics (2269.HK) 2022 Results – Key Takeaways and the Outlook
- WuXi Bio’s performance growth is obviously decreasing. Based on customer structure/development trend, overseas biotech is the main growth point,which means WuXi Bio would be more vulnerable to the external financing environment.
- WuXi Bio expands manufacturing capacity aggressively through new construction/acquisitions. An important assumption is WuXi Bio can continue receiving overseas orders, otherwise its CDMO production capacity would be considered excessive.
- Due to IRA,whether US market would reflect a slowdown in growth of healthcare spending, thereby depressing the potential return on drug R&D? This is a fatal blow to China CXO.
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