In today’s briefing:
- Astellas Pharma (4503) Buyback – Short-Term Pressure Catalyst
- M3: Covid Related Trials and Vaccination Programs Drive Earnings; Core Business Growth Slowing Down
- Anke Biotechnology (300009CH) Vs Changchun High & New Tech (000661CH)-Growth Hormone VBP and Outlook
Astellas Pharma (4503) Buyback – Short-Term Pressure Catalyst
- Large Japanese low-multiple pharma company Astellas Pharma (4503 JP) yesterday announced earnings and this morning announced a buyback.
- The buyback is small-ish, but the details are definitely worth knowing.
- A play against peers for the period and afterwards may have some merit. If you have an execution axe, definitely worth a look.
M3: Covid Related Trials and Vaccination Programs Drive Earnings; Core Business Growth Slowing Down
- M3 Inc (2413 JP) reported 3QFY03/2022 results on Wednesday. Revenue grew 16.0% YoY to JPY56.5bn (vs consensus JPY54.3bn) while OP grew 22.4% YoY to JPY22.6bn (vs consensus JPY20.6bn).
- The company for the first time provided information on its US&EU businesses. Pharma marketing & research generates a majority of revenues followed by clinical trials in these regions.
- M3 also has acquired MirVracha, a website providing marketing support services to pharmaceutical companies in Russia. MirVracha has approx. 400k members, around 60% of all physicians in the country.
Anke Biotechnology (300009CH) Vs Changchun High & New Tech (000661CH)-Growth Hormone VBP and Outlook
- The recent plunge in share price of Anhui Anke Biotechnology and Changchun High & New Tech (000661 CH) (CCHT) was mainly due to the volume-based purchase (VBP) on recombinant human growth hormone.
- The best result is both CCHT and Anke quit this VBP.However,if CCHT quits but Anke wins the bidding and applies low-price strategy,CCHT couldn’t keep its price system and market share.
- Overall, growth hormone is a market with increasing competition and shrinking market size as fewer babies are born in China. So, developing more new indications would be the way out.
Before it’s here, it’s on Smartkarma