In today’s briefing:
- Prodia (PRDA IJ): Digital Initiative Cannot Be a Game Changer in Near-Term
- Regeneron Pharmaceuticals Inc.: Major Drivers
Prodia (PRDA IJ): Digital Initiative Cannot Be a Game Changer in Near-Term
- Prodia (PRDA IJ) has released a new app called U by Prodia. Initially, U by Prodia users will be able to access laboratory examination, health supplement purchasing, and home services.
- Given its expected miniscule contribution of 15–17% to total revenue, digital platform even if being on a higher growth trajectory, cannot be a significant revenue driver.
- Declining COVID testing revenue are negatively impacting diagnostic players globally. During 9M2022, Prodia reported revenue of IDR1,580B, representing 21% decline, while net profit plunged 46% to IDR275B.
Regeneron Pharmaceuticals Inc.: Major Drivers
- Regeneron Pharmaceuticals delivered impressive fourth-quarter results with revenues as well as earnings being well above analyst expectations.
- These initiatives position Regeneron for a potential U.S. launch in late August this year.
- We give Regeneron Pharmaceuticals a ‘Hold’ rating with a revised target price.
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