In today’s briefing:
- MicroPort NeuroTech IPO: Impressive Product Portfolio Offsets Profitability Concerns
- Shanghai MicroPort MedBot Group (2252.HK) – Optimistic About the Outlook
- Pfizer Ltd: Growth in Brands Intact Amid Margins Normalisation
MicroPort NeuroTech IPO: Impressive Product Portfolio Offsets Profitability Concerns
- MicroPort is the largest Chinese neuro-interventional medical device company and has filed for an IPO on the Hong Kong Stock Exchange. Its Portfolio consists of 30 commercialised products and candidates.
- Although struggling with margins, the company has an impressive product portfolio with a majority of them having strong competitive advantages.
- As most of the products are poised for growth, we are largely positive on the company.
Shanghai MicroPort MedBot Group (2252.HK) – Optimistic About the Outlook
- Recently, MicroPort MedBot’s Toumai laparoscopic surgical robot has obtained a registration certificate for launching by NMPA, indicating the hope of breaking the monopoly of Da Vinci robots in the market.
- The strong policy support as well as the medical insurance coverage offer a viable way for the commercialization of surgical robots in China, which is very important.
- Although it would take some time to improve the overall market penetration in China, we are still optimistic about the outlook of Shanghai MicroPort MedBot Group (2252 HK).
Pfizer Ltd: Growth in Brands Intact Amid Margins Normalisation
- Pfizer collectively addresses 15 therapy areas in the domestic formulations with a portfolio of over 150 products that include therapeutics & vaccines
- The company has been continuously restructuring its portfolio in the last few years to improve the productivity of its core brands.
- Target Price and Valuation: Valued at Rs 5350 i.e. 36x P/E on FY24E EPS of Rs 148.6
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