In today’s briefing:
- Medical Data Vision (3902) – SBI Upping Their Stake Means Opportunity
- Telix Pharmaceuticals (TLX AU): Strong 1H23 Result; Revenue Jumps 9x; 80% Reduction in Net Loss
- (Mostly) Asia-Pac Weekly Risk Arb Wrap: SK Rent A Car, UMW, BPlant, E Guardian, EOflow, Oishi
- Lunit (Specializes in AI-Based Cancer Diagnosis and Treatment): Rights Offering of 202 Billion Won
- China Healthcare Weekly (Aug.25) – Anti Corruption Affects IPO, TIGIT Revives Again? Neusoft Xikang
- Zimmer Biomet Holdings Inc.: Navigating Global Uncertainties with A Unique Growth Strategy! – Major Drivers
- Humana Inc.: Pushing the Envelope in Member Experiences! – Major Drivers
- Exact Sciences Corporation: Cancer Research Through Collaborative Partnerships & Other Drivers
- Incyte Corporation: 4 Proven Strategies Driving The Recent Financial Performance – Financial Forecasts
Medical Data Vision (3902) – SBI Upping Their Stake Means Opportunity
- On Friday after the close, SBI Holdings (8473 JP) – which currently owns 24.63% of Medical Data Vision (3902 JP) – announced it would buy another 2,043,200 shares.
- This market purchase would lift them to just under 30% by year-end.
- There have been similar trades done by others in the past and they were worth looking at.
Telix Pharmaceuticals (TLX AU): Strong 1H23 Result; Revenue Jumps 9x; 80% Reduction in Net Loss
- Telix Pharmaceuticals (TLX AU) reported 1H23 revenue of A$221M, a nine-fold increase on 1H22, reflecting continued growth in sales of its prostate cancer imaging agent, Illuccix.
- Gross margin improved to 64% in 1H23 from 56% in 1H22. Telix has transitioned to positive earnings on an adjusted EBITDAR basis. Net loss decreased 80% YoY to A$14M.
- With the increasing adoption in global PSMA PET imaging market, Illuccix has positive outlook. Telix is expected to launch two new products in 2024 for brain and kidney cancer imaging.
(Mostly) Asia-Pac Weekly Risk Arb Wrap: SK Rent A Car, UMW, BPlant, E Guardian, EOflow, Oishi
- I tally 49 – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
- Three new deals this week: SK Rent A Car (068400 KS)‘s Tender Offer; Sime Darby (SIME MK)‘s Offer for UMW (UMWH MK); KLK‘s Offer for Boustead Plantations (BPLANT MK).
- Key updates took place for Golden Eagle Retail (3308 HK), JSR Corp (4185 JP), E Guardian Inc (6050 JP), Eoflow (294090 KS), and Oishi Group PCL (OISHI TB).
Lunit (Specializes in AI-Based Cancer Diagnosis and Treatment): Rights Offering of 202 Billion Won
- On 24 August, Lunit announced a rights offering capital increase of 202 billion won.
- Lunit’s current share price is 155,700 won and its market cap is 1.9 trillion won. The expected rights offering price is 30% discount to current price.
- We have a positive view of Lunit and its rights offering. Lunit is one of the leading companies in Korea that specializes in AI-based cancer diagnosis and treatment solutions.
China Healthcare Weekly (Aug.25) – Anti Corruption Affects IPO, TIGIT Revives Again? Neusoft Xikang
- Anti-Corruption campaign has affected healthcare companies’ IPO. It’s crucial for companies to explain the compliance of selling expenses in IPO approval process. Investors need to be aware of potential risks.
- Roche posts interim TIGIT OS data after “inadvertent disclosure”, which seems to give investors a glimmer of hope. But for now, we remain cautious about TIGIT based on our analysis.
- We updated our views on Neusoft Xikang. We still hold a conservative view towards whether Xikang can successfully IPO this time, mainly due to some negative factors and gloomy outlook.
Zimmer Biomet Holdings Inc.: Navigating Global Uncertainties with A Unique Growth Strategy! – Major Drivers
- Zimmer Biomet Holdings delivered a strong result and managed an all-around beat last quarter.
- The company reported increased GAAP diluted earnings per share due to higher revenues and effective cost management.
- Moreover, the company’s strong operating cash flows and solid balance sheet position provide the strategic flexibility needed for future growth initiatives.
Humana Inc.: Pushing the Envelope in Member Experiences! – Major Drivers
- Humana Inc. delivered a solid result and managed an all-around beat in the last quarter, with adjusted earnings per share meeting expectations and positive results from all lines of business, supported by the growth in Medicare Advantage utilization.
- The company has reaffirmed its full-year guidance, reflecting a significant increase in adjusted EPS over the previous year.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
Exact Sciences Corporation: Cancer Research Through Collaborative Partnerships & Other Drivers
- Exact Sciences Corporation exceeded Wall Street’s revenue and earnings expectations.
- Revenue increased in the second quarter.
- Exact Sciences continues to see widespread Cologuard acceptance and traction among health systems.
Incyte Corporation: 4 Proven Strategies Driving The Recent Financial Performance – Financial Forecasts
- Incyte Corporation delivered an all-around beat in the previous quarter.
- With patient demand for all indications rising, net product revenues for the quarter increased.
- The quarter also saw a rise in US patient demand, as total prescriptions grew over the previous quarter, and refills increased.
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