In today’s briefing:
- Private Equity Examining Ramsay Health (RMC AU). Again.
- Biogen Inc.: How Is Their Expansion and Execution of New Product Launches Going? – Major Drivers
- Alfresa Holdings (2784 JP): Stellar Bottomline Growth in Q1FY25 Will Not Be Replicated in Near-Term
- 2024 High Conviction Update: Innovent (1801.HK) 24Q2 – Valuation Upside Will Be Further Opened Up
- Moderna Inc.: These Are The 4 Biggest Challenges That Bears Are Counting On! – Major Drivers
- D2C personal care product startup Evo Commerce bags U$2.1M to expand retail touchpoints | e27
- Mettler-Toledo International Inc.: 4 Reasons Why We Are Pessimistic About Their Growth! – Major Drivers
- RANI: Second Quarter Results
- ResMed Inc.: A Story Of Increased Market Penetration and New Patient Acquisition! – Major Drivers
- REVB: Solid Balance Sheet as Positive Results Released
Private Equity Examining Ramsay Health (RMC AU). Again.
- Back in April 2022, Australia’s largest private hospital operator Ramsay Health Care (RHC AU) announced an unsolicited, non-binding Offer from KKR at A$88.00/share. Arguably, KKR dodged a bullet.
- RHC’s share price took another leg down last week after RHC announced weaker-than-expected FY24 earnings; plus a write-down of its European/UK ops. RHC is now ~50% adrift of KKR’s NBIO.
- Not altogether surprisingly, various media sources are reporting private equity outfits are (again) running a diagnostic check on RHC.
Biogen Inc.: How Is Their Expansion and Execution of New Product Launches Going? – Major Drivers
- Biogen recently reported its earnings for the second quarter of 2024.
- The company, a leading biotechnology entity known for its pioneering work in neuroscience, highlighted a period of transformative growth and strategic reshuffling under President and CEO Chris Viehbacher.
- Central to the earnings discussion was Biogen’s emphasis on accelerating new product launches, optimizing existing portfolios, and expanding through strategic acquisitions, notably the addition of HI-Bio.
Alfresa Holdings (2784 JP): Stellar Bottomline Growth in Q1FY25 Will Not Be Replicated in Near-Term
- Alfresa Holdings (2784 JP) reported just 2% YoY revenue growth to ¥722B in Q1FY25. However, with 24bps gross profit margin expansion to 6.98%, operating and net profits outpaced revenue growth.
- Alfresa reiterated H1FY25 and FY25 guidance. This calls for mixed financial performance in Q2FY25, with topline growth and bottomline deterioration. Decline in profit is mainly due to higher SG&A expenses.
- Anticipating lower profit this fiscal, the company has guided for dividend of ¥63 per share, compared with ¥70 per share paid in FY24.
2024 High Conviction Update: Innovent (1801.HK) 24Q2 – Valuation Upside Will Be Further Opened Up
- Innovent’s 24H1 product revenue exceeded RMB3.7 billion.Due to anti-corruption campaign, newly marketed PD-1s are unable to be admitted to the hospitals normally, which indirectly promotes the sales performance of sintilimab.
- 2024 full-year product revenue is estimated to reach RMB7.7 billion. IBI363 has the potential to be blockbuster variety in global markets, which may put Innovent’s valuation on a new level.
- Innovent is undervalued if market value is below RMB38.5 billion.If mazdutide is able to contribute RMB10 billion sales, Innovent’s market value would reach about RMB90-100 billion (based on 5 P/S).
Moderna Inc.: These Are The 4 Biggest Challenges That Bears Are Counting On! – Major Drivers
- Moderna reported its Quarterly Earnings recently and managed a decent performance.
- Positives from the quarter included advancements in Moderna’s respiratory vaccine portfolio, particularly with mRNA-1273, its COVID-19 vaccine, and new RSV vaccine, mRESVIA.
- Notably, mRNA-1273 continues to be a significant product in combating COVID-19 with substantial hospitalization rates reported from the CDC for the ’23/’24 season.
D2C personal care product startup Evo Commerce bags U$2.1M to expand retail touchpoints | e27
- Singapore-based Evo Commerce, an omnichannel retailer offering supplements and personal care products directly to consumers, has raised US$2.1 million in a fresh investment round.
- Existing investor Shanghai-based IJK Capital Partners led the round.
- Chen Capital (Min-Liang Tan’s family office), Reuben Lai (former MD of the Grab Financial Group), Octave Wellbeing Economy Fund, Orvel Ventures, Straits Angels, and Ascend Angels participated.
Mettler-Toledo International Inc.: 4 Reasons Why We Are Pessimistic About Their Growth! – Major Drivers
- Mettler-Toledo International Inc. recently announced its second-quarter 2024 financial results, revealing a mix of strengths and challenges that characterized the period.
- The company’s performance demonstrated its strategic flexibility in adapting to varied global market conditions, with a particular focus on enhancing operational efficiencies and optimizing its Spinnaker sales and marketing program.
- During the quarter, Mettler-Toledo reported sales of $943.8 million, which represented a 2% decline in local currencies and a 4% decrease on a U.S. dollar basis, largely due to currency headwinds.
RANI: Second Quarter Results
- Rani is a clinical-stage biotherapeutics company developing the ingestible robotic RaniPill (RP) that enables oral delivery of biologics & other large molecules.
- Its pipeline features clinical assets RT-102 (teriparatide for osteoporosis) & RT-111 (ustekinumab for psoriasis).
- Both programs have completed Ph1 trials characterizing safety tolerability & pharmaco-kinetics.
ResMed Inc.: A Story Of Increased Market Penetration and New Patient Acquisition! – Major Drivers
- ResMed recently reported its fourth quarter results for the fiscal year 2024, providing a comprehensive update on its performance across various business segments.
- The company demonstrated robust growth attributed to increased demand and operational excellence, with a focus on innovations in sleep apnea, digital health solutions, and home medical equipment software.
- Financially, ResMed achieved a 9% increase in revenue year-over-year, amounting to $1.22 billion for the quarter.
REVB: Solid Balance Sheet as Positive Results Released
- Revelation Biosciences is a life sciences company whose development of immunologic-based therapies is based on the well-established biology of phosphorylated hexaacyl disaccharide (PHAD) and its effect on the innate immune system.
- The company released its 2Q2024 earnings results and showed solid cash on hand.
- The company also recently announced data from its Phase 1 clinical study of its Gemini treatment.
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