In today’s briefing:
- Zydus Lifesciences Ltd (ZYDUSLIF IN): Q1FY23 Results Review- Showing Early Sign of Improvement in US
- Kintor Pharmaceutical (9939.HK) Placement – The Hidden Risks and the True Colors
- Thermo Fisher Scientific: New Product Launches & Other Drivers
Zydus Lifesciences Ltd (ZYDUSLIF IN): Q1FY23 Results Review- Showing Early Sign of Improvement in US
- Zydus Lifesciences Ltd (ZYDUSLIF IN) reported stable Q1FY23 results, with its U.S. business witnessing healthy rebound supported by volume share gain in base portfolio and new product launches.
- Excluding COVID-related products, generics portfolio, and divested products, India branded prescription business grew 9% y/y. India consumer wellness business rebounded with 18% y/y revenue growth.
- Zydus aims to grow across all our key businesses in FY23. Through cost control and improved efficiencies across the value chain, Zydus aspires to achieve 20%+ EBITDA margin for FY23.
Kintor Pharmaceutical (9939.HK) Placement – The Hidden Risks and the True Colors
- Over the past year, we’ve seen the stock price of Kintor fluctuate largely, which was mainly driven by its COVID-19 drug proxalutamide. However, we are not optimistic about its outlook.
- There are big concerns about the credibility of management. The suspicion caused by mistrust leads us to suggest that investors directly enter the “show me the result” mode.
- Shares plunged after the announcement of the Placing. Obviously, Kintor Pharmaceutical (9939 HK) is short of money. Considering the potential risks behind, we are bearish on Kintor.
Thermo Fisher Scientific: New Product Launches & Other Drivers
- Thermo Fisher had a good quarter and delivered an all-around beat as a result of the fact that its core business has been robust.
- Excellent growth has been viewed over every business, highlighted by its pharma services and bioproduction businesses.
- We provide the stock of Thermo Fisher with a ‘Hold’ rating with a revision in the target price.
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