Daily Brief Health Care: Sichuan Biokin Pharmaceutical, Catalent Inc, PharmChem Inc and more

• Chinese innovative drugmaker Sichuan Biokin Pharmaceutical Co. Ltd. has filed with the Hong Kong Stock Exchange for an initial public offering (IPO) in an effort to tap fresh funding to support new drug development and overseas expansion.
• Biokin, already listed in Shanghai, did not disclose the target size of its Hong Kong offering. According to its preliminary prospectus, Goldman Sachs Group Inc., JPMorgan Chase & Co., and Citic Securities Co. Ltd. are joint sponsors for the share sale.
• Founded in 1996, Biokin began as a producer of chemical generic drugs and proprietary Chinese medicines. The company has since 2011 moved on to novel biological drugs, focusing on antibody-drug conjugates (ADCs) for cancer treatment.

• Catalent, a global leader in providing development, manufacturing, and delivery technologies for drugs and biologics, has exhibited both solid performance and areas of challenge in their preliminary financial results for the first quarter of fiscal year 2024.
• The company has reaffirmed its full-year guidance, despite the persisting headwinds in various markets which the management team addressed through operational effectiveness and strategic reviews.
• Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

• PharmChem Inc. specializes in sweat-based drug testing for criminal justice customers
• Faced challenges in 2021 and 2022 but has since recovered sales and announced plans for growth in 2024
• Analysts predict stock price to rise from $2.91 to over $4 this year as investors re-evaluate company’s prospects

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.