In today’s briefing:
- China Healthcare Weekly (Mar.1) – Prioritize Big Pharma, Real Ownership of Pricing Power, Hengrui
- Will China TCM (570.HK) Be Incorporated into Taiji Group (600129.CH)? –If Yes, Valuation Will Double
- Merck & Co: A Story Of Significant Progress & Execution Across Therapeutic Areas! – Major Drivers
- BioMarin Corporation: Will Its Strategic Portfolio Review Work? – Major Drivers
- Insulet Corporation: Is Its Strategy Of Connecting With Healthcare Professionals For Penetration In Niche Markets Working? – Major Drivers
- Teleflex Incorporated: M&A Focus & 5 Other Strategies Driving Growth! – Financial Forecasts
China Healthcare Weekly (Mar.1) – Prioritize Big Pharma, Real Ownership of Pricing Power, Hengrui
- In the current challenging environment, investors should prioritize pharmaceutical companies with abundant cash flow and Biotech with diversified funding sources, as their safety margin is much higher.
- After the “clamor of consumer upgrading” fades away, we will eventually realize that the so-called pricing power has never belonged to anyone or any enterprise, but always to consumers.
- Hengrui is overvalued. There’re still around RMB5 billion generic drugs yet to enter VBP scope. So, the assumption that all negative effects of VBP have cleared up is not correct.
Will China TCM (570.HK) Be Incorporated into Taiji Group (600129.CH)? –If Yes, Valuation Will Double
- In the past few years, a big problem of Taiji is weak performance/low valuation. The main purpose of mixed-ownership reform with CNPGC is to improve operational efficiency and enhance profitability.
- CNPGC made a clear commitment to solve the horizontal competition issue. So, after the privatization of China TCM is completed, it’s worth noting whether it will be merged into Taiji.
- 2024 is expected to see Taiji launch new M&A deals, which would bring a qualitative leap for Taiji. Market value of Taiji is expected to at least double.
Merck & Co: A Story Of Significant Progress & Execution Across Therapeutic Areas! – Major Drivers
- In the Q4 earnings, Merck & Co.
- reported a strong financial performance, underpinned by a robust demand for their innovative portfolio, including Keytruda, Welireg, and Gardasil, among others.
- The company has embarked on various collaborations further bolstering its product pipeline with a promising line of innovations.
BioMarin Corporation: Will Its Strategic Portfolio Review Work? – Major Drivers
- BioMarin Pharmaceutical recorded a 20% revenue growth in the fourth quarter of 2023 compared to Q4 of 2022.
- The company gained total revenue growth of 15% for the whole of 2023 versus the prior year.
- Non-GAAP earnings per share rose by 48% in Q4 2023, representing a 36% year-over year increase.
Insulet Corporation: Is Its Strategy Of Connecting With Healthcare Professionals For Penetration In Niche Markets Working? – Major Drivers
- Insulet Corporation reported strong Q4 2023 results, marking its eighth straight year of 20-plus percent revenue growth.
- The company’s automated insulin delivery system, Omnipod 5, played a significant role in its financial success as it generated $1 billion in revenue in 2023.
- The achievement of approximately 425,000 global customers using the Omnipod platform represented a growth of around 25% from the previous year, including almost 250,000 using the Omnipod 5.
Teleflex Incorporated: M&A Focus & 5 Other Strategies Driving Growth! – Financial Forecasts
- Teleflex Incorporated’s fourth quarter 2023 earnings were decent.
- Firstly, the revenues grew at 2.1% year-over-year, showing the company’s overall financial robustness.
- Additionally, Teleflex saw a stable-to-improving environment for material inflation and supply chains, with continued improvements expected through 2024.
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