This document provides an investment analysis of Human Stem Cells Institute (HSCI) Group, a diversified healthcare business in Russia. It discusses HSCI's various business segments including stem cell banking, genetic testing, and novel gene therapies. Key points include: HSCI is developing a COVID-19 vaccine and expanding into new areas like gene therapy in the US; the analyst gives revenue and growth forecasts for HSCI's segments and initiatives; and they view HSCI as undervalued given its past growth and potential in large emerging healthcare markets.
China diagnostic reagent industry production & marketing and investment forec...Qianzhan Intelligence
The document provides an overview of the diagnostic reagent industry in China. It discusses that the industry is still in the early stages of development and R&D investment. While China's market size is less than 10% of the global market, some domestic manufacturers have reached international standards in certain technologies. The diagnostic reagent industry attracts investors due to its high profitability, though development remains uneven across different product categories. It predicts continued strong growth in the Chinese market driven by healthcare reforms and expanding demand. The report also profiles several leading multinational and domestic companies in the industry.
Sanofi is using MongoDB to build a centralized data repository to support its translational medicine platform. This will help bridge clinical research and data to facilitate more personalized, predictive, preventative, and participatory healthcare. Sanofi's new approach faces challenges in managing diverse data types and sources. MongoDB provides a flexible platform to integrate different data while maintaining consistency, traceability, and enabling collaboration across research teams. Initial use cases demonstrate time savings in data tagging and curation, as well as improved awareness and exploration of existing information assets.
The global market for botulinum toxins is expected to grow from $ 6,530.4 million in 2021 to $ 11,925.7 million in 2026. The market is expected to grow at a CAGR of 12.8% over the forecast period (2021-2026). Some of the market's key participants are Allergan, Ipsen, LIBP, Medytox, Merz Pharmaceuticals, US World Meds. This report intends to identify significant growth areas and to explore relevant market strategies. This in-depth analysis delves into the global market for botulinum toxins. The primary goal of this research is to examine the potential growth areas, significant trends, and the market's impact on the industry. The report also reviews the adoption of botulinum toxins in both established and emerging markets.
The document summarizes key findings from interviews with Russian pharmaceutical producers, experts, and officials about challenges in implementing Russia's "Pharma 2020 Strategy". The strategy aims to transition Russia's pharmaceutical industry to an innovation model by 2020, but experts expressed skepticism about whether the strategy's methods can attract needed investment. While some targets like 50-60% localized production seem unrealistic, over 50% of experts still support the strategy for ensuring Russia's "biological security". However, the funds allocated are unlikely to cover costs, and obstacles to exports may limit returns on investment in domestic production. Effective use of allocated funds will be important for the strategy's success.
Sanofi reported its Q4 and full year 2021 results. The document contains forward-looking statements and discusses Sanofi's Q4 performance, pipeline progress, and planned upcoming launches. Key highlights include Specialty Care becoming Sanofi's largest business unit driven by strong Dupixent sales of €1.5 billion in Q4. The pipeline was also strengthened with the addition of 36 projects in phase I/II.
- Jean-Baptiste de Chatillon presented at the JP Morgan Healthcare Conference on January 8, 2019.
- He discussed Sanofi's strategic transformation including launching new products, reshaping their portfolio through acquisitions and divestitures, and simplifying their organization.
- Key products discussed included Dupixent's expansion in new indications and geographies, positive data for Dupixent in nasal polyps, and the US launch of Libtayo for skin cancer.
- Sanofi is also building their leadership in rare blood disorders through recent acquisitions and their hemophilia and thrombosis drug pipelines.
The document provides an overview of Sanofi's Q4 and full year 2021 results. Key highlights include:
- Global sales grew 7.1% in 2021 to €37.7 billion, driven by strong growth of Specialty Care which became the largest business unit.
- Dupixent sales increased 53% in Q4 to €1.55 billion, with growth across all regions. Prurigo nodularis phase 3 trials showed significant improvements.
- Vaccines sales declined 6.5% in Q4 due to earlier seasonal flu shipments, while full year flu vaccine sales reached record levels in 2021.
- Planned launches of sutimlimab for CAD in 2022 and olp
Brazil An Emerging Partner In Drug R&Dnielsleidecker
1) Brazil has improved its infrastructure, scientific capabilities, and strategic initiatives to promote drug discovery research. Positive economic growth, political stability, expanding patient populations, and increasing governmental and private investments are creating new opportunities for drug R&D in Brazil.
2) The Brazilian pharmaceutical market is the largest in Latin America, with increasing investments from both domestic and multinational companies. The government has also established laboratories and initiatives to promote local innovation and reduce reliance on imports.
3) Brazil possesses natural resources and biodiversity that could provide opportunities for new drug discoveries, especially through partnerships between domestic and international researchers utilizing Brazilian expertise and technologies.
China diagnostic reagent industry production & marketing and investment forec...Qianzhan Intelligence
The document provides an overview of the diagnostic reagent industry in China. It discusses that the industry is still in the early stages of development and R&D investment. While China's market size is less than 10% of the global market, some domestic manufacturers have reached international standards in certain technologies. The diagnostic reagent industry attracts investors due to its high profitability, though development remains uneven across different product categories. It predicts continued strong growth in the Chinese market driven by healthcare reforms and expanding demand. The report also profiles several leading multinational and domestic companies in the industry.
Sanofi is using MongoDB to build a centralized data repository to support its translational medicine platform. This will help bridge clinical research and data to facilitate more personalized, predictive, preventative, and participatory healthcare. Sanofi's new approach faces challenges in managing diverse data types and sources. MongoDB provides a flexible platform to integrate different data while maintaining consistency, traceability, and enabling collaboration across research teams. Initial use cases demonstrate time savings in data tagging and curation, as well as improved awareness and exploration of existing information assets.
The global market for botulinum toxins is expected to grow from $ 6,530.4 million in 2021 to $ 11,925.7 million in 2026. The market is expected to grow at a CAGR of 12.8% over the forecast period (2021-2026). Some of the market's key participants are Allergan, Ipsen, LIBP, Medytox, Merz Pharmaceuticals, US World Meds. This report intends to identify significant growth areas and to explore relevant market strategies. This in-depth analysis delves into the global market for botulinum toxins. The primary goal of this research is to examine the potential growth areas, significant trends, and the market's impact on the industry. The report also reviews the adoption of botulinum toxins in both established and emerging markets.
The document summarizes key findings from interviews with Russian pharmaceutical producers, experts, and officials about challenges in implementing Russia's "Pharma 2020 Strategy". The strategy aims to transition Russia's pharmaceutical industry to an innovation model by 2020, but experts expressed skepticism about whether the strategy's methods can attract needed investment. While some targets like 50-60% localized production seem unrealistic, over 50% of experts still support the strategy for ensuring Russia's "biological security". However, the funds allocated are unlikely to cover costs, and obstacles to exports may limit returns on investment in domestic production. Effective use of allocated funds will be important for the strategy's success.
Sanofi reported its Q4 and full year 2021 results. The document contains forward-looking statements and discusses Sanofi's Q4 performance, pipeline progress, and planned upcoming launches. Key highlights include Specialty Care becoming Sanofi's largest business unit driven by strong Dupixent sales of €1.5 billion in Q4. The pipeline was also strengthened with the addition of 36 projects in phase I/II.
- Jean-Baptiste de Chatillon presented at the JP Morgan Healthcare Conference on January 8, 2019.
- He discussed Sanofi's strategic transformation including launching new products, reshaping their portfolio through acquisitions and divestitures, and simplifying their organization.
- Key products discussed included Dupixent's expansion in new indications and geographies, positive data for Dupixent in nasal polyps, and the US launch of Libtayo for skin cancer.
- Sanofi is also building their leadership in rare blood disorders through recent acquisitions and their hemophilia and thrombosis drug pipelines.
The document provides an overview of Sanofi's Q4 and full year 2021 results. Key highlights include:
- Global sales grew 7.1% in 2021 to €37.7 billion, driven by strong growth of Specialty Care which became the largest business unit.
- Dupixent sales increased 53% in Q4 to €1.55 billion, with growth across all regions. Prurigo nodularis phase 3 trials showed significant improvements.
- Vaccines sales declined 6.5% in Q4 due to earlier seasonal flu shipments, while full year flu vaccine sales reached record levels in 2021.
- Planned launches of sutimlimab for CAD in 2022 and olp
Brazil An Emerging Partner In Drug R&Dnielsleidecker
1) Brazil has improved its infrastructure, scientific capabilities, and strategic initiatives to promote drug discovery research. Positive economic growth, political stability, expanding patient populations, and increasing governmental and private investments are creating new opportunities for drug R&D in Brazil.
2) The Brazilian pharmaceutical market is the largest in Latin America, with increasing investments from both domestic and multinational companies. The government has also established laboratories and initiatives to promote local innovation and reduce reliance on imports.
3) Brazil possesses natural resources and biodiversity that could provide opportunities for new drug discoveries, especially through partnerships between domestic and international researchers utilizing Brazilian expertise and technologies.
Withdrawal of fdi by gsk from bangladeshM S Siddiqui
Bangladesh government may set up an independent commission to investigate the reason of withdrawal of investment by a multinational company from Bangladesh and going to other emerging market despite growing market and patent-free export to other market. This exist of MNC may be a bad example for overseas investors.
- Q3 2017 company sales grew 4.7% at CER to €9.1 billion, driven by specialty care and vaccines franchises. Diabetes sales declined 14.8% due to losses of exclusivity.
- Specialty care grew 13.9% led by strong Dupixent sales in the US and Kevzara gaining 15% of the IL-6 market share. Vaccines grew 7.2% with strong pediatric combination vaccine sales.
- Consumer healthcare grew 1% with emerging markets up 6.7% offsetting declines in developed markets due to increased competition.
This document discusses Sanofi's Q4 and full year 2018 results. It provides an agenda for the presentation and highlights key metrics:
- Q4 sales grew 4.7% at CER to €8.997 billion and EPS grew to €1.10. Full year sales grew 2.5% at CER to €34.463 billion.
- Specialty care sales grew 16.1% in Q4 driven by rare disease, MS, immunology and oncology franchises. Vaccines sales grew 9.7% in Q4.
- Dupixent sales accelerated in Q4 with a 25% increase in prescriptions in the US market due to direct-to-consumer campaigns
GSK reported financial results for the third quarter of 2008. Revenue declined 3% due to generic competition impacting major pharmaceutical brands in the US, though other areas like vaccines and emerging markets saw growth. Earnings per share declined 9% due to higher costs of sales from generic competition. The company increased its dividend by 8% and continued share repurchases while pursuing strategic priorities like diversifying its business and expanding in emerging markets and consumer healthcare.
- Sanofi reported Q2 2019 results with sales of €8.6 billion, up 4.8% year-over-year at CER. Business EPS was €1.31, up 3.9% at CER.
- Specialty care sales grew strongly at 22.1% driven by Dupixent. Vaccines sales increased 24.7% led by Pentaxim in China and boosters. Primary care sales declined 10.4% due to pricing pressures and LoEs in diabetes and established products.
- Emerging markets sales increased 10% with double digit growth in Asia and Latin America led by specialty care and vaccines portfolio shift. China sales grew 17.1% to €709 million
Sanofi reported its Q2 2018 results. Key highlights include:
- Q2 sales were €8.2 billion, up 1.5% at constant exchange rates. Business EPS was €1.25.
- Strong growth in Specialty Care, driven by immunology and rare blood disorders, largely offset declines from US generics losses of exclusivity and vaccines phasing.
- Dupixent and Kevzara sales grew significantly in immunology. Rare blood disorder franchise contributed €257 million following acquisition.
- Vaccines sales declined 15.7% due to difficult prior year comparables and phasing in emerging markets.
- Consumer Healthcare grew 4.1% led by emerging markets. Diabetes sales
Integrated continuous manufacturing (ICM) offers significant advantages over traditional batch pharmaceutical manufacturing. ICM allows for a seamless, integrated process with fewer unit operations and excipients. It can reduce costs by over 50%, lead times to under 2 days, and improve quality. While ICM faces barriers such as regulatory concerns and technological challenges, its benefits could include annual savings of billions of dollars for pharmaceutical companies through reduced costs of goods sold and inventory. ICM is seen as the future of pharmaceutical manufacturing.
RDIF, RCIF, and Middle Eastern investors will invest in the merger of JSC PE Obolenskoe and JSC Binnopharm to create one of the largest pharmaceutical companies in Russia. The merger aims to increase production capabilities, support research and development, and double sales over four years. It will facilitate the development of an R&D center to attract international biotech and pharmaceutical companies.
Sanofi reported Q4 and full year 2016 results on February 8, 2017. Key highlights include:
- Q4 2016 company sales grew 3.4% to €8.867 billion, with all global business units delivering growth.
- Full year 2016 business EPS grew 4.1% to €5.64 on sales of €33.821 billion, stronger than initial expectations.
- Specialty care franchise grew 12.6% in Q4 driven by rare diseases and multiple sclerosis. Vaccines grew 3.7% with strength in pediatric combinations.
- Consumer healthcare returned to growth in Q4, up 2.7% excluding divestitures and Venezuela. Emerging markets grew 7% excluding
This document provides an overview of Sanofi's Q4 and full year 2020 results. Some key highlights include:
- Q4 sales grew 4.2% driven by strong growth of Dupixent and vaccines. Full year sales grew 3.3%.
- Business operating income margin increased in Q4 and for the full year, trending towards 2022 targets.
- Free cash flow grew significantly to €7 billion in 2020 through business performance, cost savings initiatives, and asset sales.
- A dividend of €3.20 per share is proposed, representing the 27th consecutive year of dividend growth.
2016/06 – IR – Business swap with Boehringer IngelheimSanofi
The asset swap will reshape Sanofi's portfolio by transferring its animal health business to Boehringer Ingelheim in exchange for BI's consumer healthcare business. This will allow Sanofi to build global leadership in the large and growing consumer healthcare market. The combined Sanofi and BI consumer healthcare businesses will have pro forma sales of €4.9 billion annually and increased scale in priority categories and regions. Synergies are expected from advertising, promotions and potential use of Sanofi's medical salesforce. The deal is expected to be accretive to business EPS in subsequent years after closing by year-end 2016.
- Q1 2020 sales were €8.973 billion, up 6.6% driven by strong Dupixent sales growth.
- Dupixent sales increased 130% to €776 million and continue to see double-digit growth.
- Specialty Care sales were up 31.3% led by Dupixent while General Medicines sales fell 3.8% due to COVID-19 stocking and China's VBP program.
Dyadic International is a global biotechnology company focused on improving and applying its proprietary C1 gene expression platform, a patented genetically modified strain of the fungus Myceliophthora thermophila, to address opportunities in human and animal health markets. The C1 platform can help bring biologic drugs to market faster, in greater volumes, and at lower cost than existing platforms like CHO cells. Dyadic pursues R&D collaborations and licensing arrangements to develop and manufacture biopharmaceuticals using the C1 platform.
Can-Fite BioPharma Ltd. (NYSE American: CANF) is an advanced clinical stage drug development company with a platform technology that addresses multi-billion-dollar markets in the treatment of autoimmune inflammatory diseases including Rheumatoid Arthritis and Psoriasis, and liver diseases including advanced liver cancer and NASH. Can-Fite’s drugs have an excellent safety profile with experience in over 1,000 patients. Can-Fite’s intellectual property portfolio consists of 13 patent families issued and pending. Piclidenoson and Namodenoson have been out-licensed in select territories with approximately $18 million received to date. Visit CANFinfo.com to learn more.
IntelGenx March 13, 2017 Investor PresentationItelGenx
This presentation provides an overview of IntelGenx Corp., a drug delivery company focused on oral thin film technologies. Key points include:
- IntelGenx has a pipeline of product candidates using its VersaFilm drug delivery technology, including products for migraines, erectile dysfunction, schizophrenia, and repurposing drugs for brain diseases.
- The company has completed construction of a new manufacturing facility to produce oral thin films and lower costs.
- Management believes IntelGenx is well positioned for growth due to its drug delivery expertise, business model focusing on drug repurposing and first-to-file generics, and competitive manufacturing capabilities.
Sanofi reported its Q2 2020 results, highlighting a 9.2% increase in EPS driven by strong Dupixent sales growth of 94%. While most business units saw impacts from COVID-19, Dupixent maintained momentum with new launches and indications. Sanofi also progressed its pipeline including initiating Phase 3 for BTK inhibitor '168 in multiple sclerosis.
This document provides an agenda and key highlights from Sanofi's Q1 2019 results presentation:
- The presentation reviews Sanofi's Q1 2019 financial results, with sales increasing 4.2% and EPS growth of 9.4% driven by launches and diminishing LoEs in the US.
- Several business units saw double-digit growth including Genzyme, Vaccines, and China/Emerging Markets, partially offset by lower sales of Diabetes and Established Products.
- The pipeline highlights potential approvals over the next year including Dupixent in additional indications and geographies as well as Zynquista and Cemiplimab.
- Sanofi reported strong Q3 2018 results, with company sales increasing 6.3% at CER to €9.4 billion, driven by performance in Specialty Care, Vaccines, and Consumer Healthcare.
- Specialty Care sales grew 16.4% at CER to €2.2 billion due to solid contributions from Eloctate, Dupixent, oncology, and multiple sclerosis franchises.
- Vaccines sales increased 8.2% at CER to €2.1 billion as supply constraints on Pentaxim in China were resolved and flu vaccine sales grew.
- Consumer Healthcare sales rose 4.1% at CER to €1.1 billion on
Merck announced third-quarter 2004 earnings per share of 60 cents, including a 25 cent unfavorable impact from withdrawing Vioxx worldwide. Merck anticipates fourth-quarter EPS of 48-53 cents and full-year 2004 EPS of $2.59-$2.64 due to withdrawing Vioxx. Several drug trials showed positive results and new products like Vytorin were launched, but Vioxx sales of $2.5 billion last year will significantly impact finances. Merck is redeploying resources and finding other growth areas.
JWI 599 Strayer University Business Analytics Paper.docxwrite5
The document provides an analysis of the financial performance and competitive position of JSC Group of Companies "MEDSI", a private healthcare provider in Russia. Some key points:
- MEDSI generates most of its revenue from medical services provided in Moscow and other regions of Russia.
- The company has seen revenue growth in recent years but lower profit margins than industry averages, suggesting opportunities to improve operational efficiency.
- Competitors in the Russian healthcare market pose a threat, but MEDSI has established itself as the largest private healthcare provider in the country.
- The analysis identifies shifting focus to less expensive services and expanding into new regional markets as strategies to strengthen MEDSI's competitive position.
JWI 599 Strayer University Business Analytics Paper.docxwrite4
The document summarizes financial information about MEDSI, a private healthcare company operating in Russia. It discusses MEDSI's sources of revenue, assets, growth in revenue and number of clinics between 2017-2018, expansion plans, and key financial metrics compared to industry averages. MEDSI aims to build the largest federal medical chain in Russia combining research, healthcare, and training. While its net profit margin and liquidity are above industry averages, its return on assets and sales are lower, indicating less efficient management of expenses and assets relative to peers.
Withdrawal of fdi by gsk from bangladeshM S Siddiqui
Bangladesh government may set up an independent commission to investigate the reason of withdrawal of investment by a multinational company from Bangladesh and going to other emerging market despite growing market and patent-free export to other market. This exist of MNC may be a bad example for overseas investors.
- Q3 2017 company sales grew 4.7% at CER to €9.1 billion, driven by specialty care and vaccines franchises. Diabetes sales declined 14.8% due to losses of exclusivity.
- Specialty care grew 13.9% led by strong Dupixent sales in the US and Kevzara gaining 15% of the IL-6 market share. Vaccines grew 7.2% with strong pediatric combination vaccine sales.
- Consumer healthcare grew 1% with emerging markets up 6.7% offsetting declines in developed markets due to increased competition.
This document discusses Sanofi's Q4 and full year 2018 results. It provides an agenda for the presentation and highlights key metrics:
- Q4 sales grew 4.7% at CER to €8.997 billion and EPS grew to €1.10. Full year sales grew 2.5% at CER to €34.463 billion.
- Specialty care sales grew 16.1% in Q4 driven by rare disease, MS, immunology and oncology franchises. Vaccines sales grew 9.7% in Q4.
- Dupixent sales accelerated in Q4 with a 25% increase in prescriptions in the US market due to direct-to-consumer campaigns
GSK reported financial results for the third quarter of 2008. Revenue declined 3% due to generic competition impacting major pharmaceutical brands in the US, though other areas like vaccines and emerging markets saw growth. Earnings per share declined 9% due to higher costs of sales from generic competition. The company increased its dividend by 8% and continued share repurchases while pursuing strategic priorities like diversifying its business and expanding in emerging markets and consumer healthcare.
- Sanofi reported Q2 2019 results with sales of €8.6 billion, up 4.8% year-over-year at CER. Business EPS was €1.31, up 3.9% at CER.
- Specialty care sales grew strongly at 22.1% driven by Dupixent. Vaccines sales increased 24.7% led by Pentaxim in China and boosters. Primary care sales declined 10.4% due to pricing pressures and LoEs in diabetes and established products.
- Emerging markets sales increased 10% with double digit growth in Asia and Latin America led by specialty care and vaccines portfolio shift. China sales grew 17.1% to €709 million
Sanofi reported its Q2 2018 results. Key highlights include:
- Q2 sales were €8.2 billion, up 1.5% at constant exchange rates. Business EPS was €1.25.
- Strong growth in Specialty Care, driven by immunology and rare blood disorders, largely offset declines from US generics losses of exclusivity and vaccines phasing.
- Dupixent and Kevzara sales grew significantly in immunology. Rare blood disorder franchise contributed €257 million following acquisition.
- Vaccines sales declined 15.7% due to difficult prior year comparables and phasing in emerging markets.
- Consumer Healthcare grew 4.1% led by emerging markets. Diabetes sales
Integrated continuous manufacturing (ICM) offers significant advantages over traditional batch pharmaceutical manufacturing. ICM allows for a seamless, integrated process with fewer unit operations and excipients. It can reduce costs by over 50%, lead times to under 2 days, and improve quality. While ICM faces barriers such as regulatory concerns and technological challenges, its benefits could include annual savings of billions of dollars for pharmaceutical companies through reduced costs of goods sold and inventory. ICM is seen as the future of pharmaceutical manufacturing.
RDIF, RCIF, and Middle Eastern investors will invest in the merger of JSC PE Obolenskoe and JSC Binnopharm to create one of the largest pharmaceutical companies in Russia. The merger aims to increase production capabilities, support research and development, and double sales over four years. It will facilitate the development of an R&D center to attract international biotech and pharmaceutical companies.
Sanofi reported Q4 and full year 2016 results on February 8, 2017. Key highlights include:
- Q4 2016 company sales grew 3.4% to €8.867 billion, with all global business units delivering growth.
- Full year 2016 business EPS grew 4.1% to €5.64 on sales of €33.821 billion, stronger than initial expectations.
- Specialty care franchise grew 12.6% in Q4 driven by rare diseases and multiple sclerosis. Vaccines grew 3.7% with strength in pediatric combinations.
- Consumer healthcare returned to growth in Q4, up 2.7% excluding divestitures and Venezuela. Emerging markets grew 7% excluding
This document provides an overview of Sanofi's Q4 and full year 2020 results. Some key highlights include:
- Q4 sales grew 4.2% driven by strong growth of Dupixent and vaccines. Full year sales grew 3.3%.
- Business operating income margin increased in Q4 and for the full year, trending towards 2022 targets.
- Free cash flow grew significantly to €7 billion in 2020 through business performance, cost savings initiatives, and asset sales.
- A dividend of €3.20 per share is proposed, representing the 27th consecutive year of dividend growth.
2016/06 – IR – Business swap with Boehringer IngelheimSanofi
The asset swap will reshape Sanofi's portfolio by transferring its animal health business to Boehringer Ingelheim in exchange for BI's consumer healthcare business. This will allow Sanofi to build global leadership in the large and growing consumer healthcare market. The combined Sanofi and BI consumer healthcare businesses will have pro forma sales of €4.9 billion annually and increased scale in priority categories and regions. Synergies are expected from advertising, promotions and potential use of Sanofi's medical salesforce. The deal is expected to be accretive to business EPS in subsequent years after closing by year-end 2016.
- Q1 2020 sales were €8.973 billion, up 6.6% driven by strong Dupixent sales growth.
- Dupixent sales increased 130% to €776 million and continue to see double-digit growth.
- Specialty Care sales were up 31.3% led by Dupixent while General Medicines sales fell 3.8% due to COVID-19 stocking and China's VBP program.
Dyadic International is a global biotechnology company focused on improving and applying its proprietary C1 gene expression platform, a patented genetically modified strain of the fungus Myceliophthora thermophila, to address opportunities in human and animal health markets. The C1 platform can help bring biologic drugs to market faster, in greater volumes, and at lower cost than existing platforms like CHO cells. Dyadic pursues R&D collaborations and licensing arrangements to develop and manufacture biopharmaceuticals using the C1 platform.
Can-Fite BioPharma Ltd. (NYSE American: CANF) is an advanced clinical stage drug development company with a platform technology that addresses multi-billion-dollar markets in the treatment of autoimmune inflammatory diseases including Rheumatoid Arthritis and Psoriasis, and liver diseases including advanced liver cancer and NASH. Can-Fite’s drugs have an excellent safety profile with experience in over 1,000 patients. Can-Fite’s intellectual property portfolio consists of 13 patent families issued and pending. Piclidenoson and Namodenoson have been out-licensed in select territories with approximately $18 million received to date. Visit CANFinfo.com to learn more.
IntelGenx March 13, 2017 Investor PresentationItelGenx
This presentation provides an overview of IntelGenx Corp., a drug delivery company focused on oral thin film technologies. Key points include:
- IntelGenx has a pipeline of product candidates using its VersaFilm drug delivery technology, including products for migraines, erectile dysfunction, schizophrenia, and repurposing drugs for brain diseases.
- The company has completed construction of a new manufacturing facility to produce oral thin films and lower costs.
- Management believes IntelGenx is well positioned for growth due to its drug delivery expertise, business model focusing on drug repurposing and first-to-file generics, and competitive manufacturing capabilities.
Sanofi reported its Q2 2020 results, highlighting a 9.2% increase in EPS driven by strong Dupixent sales growth of 94%. While most business units saw impacts from COVID-19, Dupixent maintained momentum with new launches and indications. Sanofi also progressed its pipeline including initiating Phase 3 for BTK inhibitor '168 in multiple sclerosis.
This document provides an agenda and key highlights from Sanofi's Q1 2019 results presentation:
- The presentation reviews Sanofi's Q1 2019 financial results, with sales increasing 4.2% and EPS growth of 9.4% driven by launches and diminishing LoEs in the US.
- Several business units saw double-digit growth including Genzyme, Vaccines, and China/Emerging Markets, partially offset by lower sales of Diabetes and Established Products.
- The pipeline highlights potential approvals over the next year including Dupixent in additional indications and geographies as well as Zynquista and Cemiplimab.
- Sanofi reported strong Q3 2018 results, with company sales increasing 6.3% at CER to €9.4 billion, driven by performance in Specialty Care, Vaccines, and Consumer Healthcare.
- Specialty Care sales grew 16.4% at CER to €2.2 billion due to solid contributions from Eloctate, Dupixent, oncology, and multiple sclerosis franchises.
- Vaccines sales increased 8.2% at CER to €2.1 billion as supply constraints on Pentaxim in China were resolved and flu vaccine sales grew.
- Consumer Healthcare sales rose 4.1% at CER to €1.1 billion on
Merck announced third-quarter 2004 earnings per share of 60 cents, including a 25 cent unfavorable impact from withdrawing Vioxx worldwide. Merck anticipates fourth-quarter EPS of 48-53 cents and full-year 2004 EPS of $2.59-$2.64 due to withdrawing Vioxx. Several drug trials showed positive results and new products like Vytorin were launched, but Vioxx sales of $2.5 billion last year will significantly impact finances. Merck is redeploying resources and finding other growth areas.
JWI 599 Strayer University Business Analytics Paper.docxwrite5
The document provides an analysis of the financial performance and competitive position of JSC Group of Companies "MEDSI", a private healthcare provider in Russia. Some key points:
- MEDSI generates most of its revenue from medical services provided in Moscow and other regions of Russia.
- The company has seen revenue growth in recent years but lower profit margins than industry averages, suggesting opportunities to improve operational efficiency.
- Competitors in the Russian healthcare market pose a threat, but MEDSI has established itself as the largest private healthcare provider in the country.
- The analysis identifies shifting focus to less expensive services and expanding into new regional markets as strategies to strengthen MEDSI's competitive position.
JWI 599 Strayer University Business Analytics Paper.docxwrite4
The document summarizes financial information about MEDSI, a private healthcare company operating in Russia. It discusses MEDSI's sources of revenue, assets, growth in revenue and number of clinics between 2017-2018, expansion plans, and key financial metrics compared to industry averages. MEDSI aims to build the largest federal medical chain in Russia combining research, healthcare, and training. While its net profit margin and liquidity are above industry averages, its return on assets and sales are lower, indicating less efficient management of expenses and assets relative to peers.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
China diagnostic reagent industry production & marketing and investment forec...Qianzhan Intelligence
The document provides an overview of the diagnostic reagent industry in China. It discusses that the industry is still in the early stages of development and R&D investment, with China's market size being less than 1/10 of the global market. Technological levels have reached international standards in some areas like PCR and gene chips, but other areas like microbiology are relatively underdeveloped. The diagnostic reagent industry attracts investment due to its high profitability, with new products generally recovering costs within 2-3 years. The report forecasts continued growth in the Chinese market driven by healthcare reform and increasing demand.
The document summarizes a report on the probiotics market. It is expected to steadily expand with a CAGR through 2027. The probiotics market report analyzes the global market size for probiotics foods and beverages and dietary supplements. It also examines the market for probiotics by application in human and animal use. Major players in the global probiotics market are listed.
North America was the largest region in the ophthalmology drugs market in 2017, accounting for around 31% of the total market.
Read Report
https://www.thebusinessresearchcompany.com/report/ophthalmology-drugs-global-market-report-2018
This document describes the Medical Device Gateway (MDG) program, a Chinese-Finnish network aimed at commercializing medical device technologies. The program seeks to bring Chinese medical device innovations to European markets through Finnish companies, and to open Chinese markets to Finnish medical ventures. It identifies opportunities in the large and growing Chinese IVD market and regulatory changes making it more accessible. The document outlines the program's operations of establishing strategic partnerships between Finnish and Chinese organizations to more quickly develop and place new products on global markets.
Hem recommend this pharma scrip on Q4FY15 operating profits of Rs495.87crIndiaNotes.com
Zydus Cadila is a fully integrated healthcare company with strengths across the pharmaceutical value chain. In the recent quarter, the company's revenues grew 16% to Rs. 2288 crores and operating profit grew 38.3% to Rs. 495.87 crores. Key growth drivers include the US business which grew 56% and the company's global expansion efforts through new product filings and launches across geographies. The report recommends buying the stock with a target price of Rs. 2150 based on attractive valuation and expectations for double-digit growth from new technologies and global expansion.
baxinco analysis Fsa repot full complited copySudipta Saha
Beximco Pharmaceuticals Ltd is a leading pharmaceutical company in Bangladesh that was incorporated in 1976. It began by importing and distributing products from global companies and now manufactures its own branded generics. Some key developments include expanding manufacturing facilities, registering new products in various countries, receiving regulatory approvals, and taking out loans to fund further expansion projects. Financial analysis shows the company generated over 6% revenue growth in 2014 but cash levels decreased significantly. Profit margins, returns and other ratios remained strong.
The document provides an analysis of the Indian pharmaceutical industry. Some key points:
- The industry has grown 14% annually since 2007 to over Rs. 1 lac crores in 2011-12.
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The document provides an overview of Aurobindo Pharma's business highlights for FY21. It discusses their key growth enablers including capacity and capability expansion, R&D, product portfolio, and compliance and quality. Some key points:
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1. 1
BST Research
Human Stem Cells Institute (Ticker: ISKJ)
Russia Equity Research
01 May 2021
HSCI Group: diversified healthcare business with assets on high-growth segment;
growth boost with development of a novel vaccine against Covid-19, genetic
testing, and a novel gene therapy platform in the United States
Investment Rationale
Revenue, 2020 (Rub'M) 1 084
EBITDA, 2020 (Rub'M) 204
Net profit, 6m2020 (Rub'M) 103
Net debt, 6m2020 (Rub'M) 245
EBITDA, % 19%
Mcap, Rub'M 6 750
Shares outstanding, million 75
New shares to be placed, million 10
Shares outstanding after
placement, million 85
Current price, Rub 90
Target price in 1 year, Rub 150
Target price in 4 years, Rub 260
• Defensive stock: during the crisis caused by
the pandemic, the Company's shares are
growing despite the fall in the broad market
indices.
• The Company has a diversified portfolio of
products and services at various stages of
the life cycle and different fast-growth
segments of healthcare market, which helps
diversify risks.
• Fast growing markets with relatively low
penetration and explosive growth potential
when products are included in the Federal
Reimbursement Program.
• An experienced team with competencies in R&D and launch of innovative products in the field of
healthcare.
• Tax incentives for companies with a medical license / Skolkovo-registered companies.
• Despite a recent runup in the stock price, HSCI shares are still undervalued: with the growth of the
business from 2009 to 2020 by 7 times, the price of shares increased only 4 times.
• Pandemic as a growth driver: significant upside on a 1-year horizon provided a successful market
launch of the COVID-19 vaccine. Long-term driver will be development of vaccines against other
infectious diseases on the basis of designed platform.
• More upside on a longer horizon (up to 5 years), including in connection with the development of
a gene therapy platform in the United States, development of the genetic testing business in
Russia and the expansion of indications for the use of Neovasculgen (first-in-class gene therapy
drug to treat PAD1
) .
1
Peripheral Artery Disease
2. 2
Company Overview
HSCI Revenue Dynamics, Rub M
Source: HSCI IFRS Reports
According to IFRS reports, the growth rates of HSCI's
business remain high. In 2020, consolidated revenue
increased by 28% and reached 1,084 million rubles for
all companies and projects within the Group. For two
years in a row, revenue growth rates remain at the
level of 28-30%. All this reflects positively on the
Company’s stock price that has grown significantly
over the last year and brought the company's
capitalization to just a shy of 7 billion rubles today as
compared to 1 billion rubles at the beginning of 2019.
The Group has created an infrastructure for bringing innovative products to the market, which includes in-
house and outsourced contract manufacturing, in-house sales force, medical representatives in the regions,
a network of medical centers and partners (600+), a powerful client base (40,000+). Strong expertise in
R&D, protection of intellectual property and registration has been accumulated. Over the years, the
company has received 57 patents (36 of them abroad), developed 10 test systems and launched a first-in-
class gene therapy drug. In 2020 alone, 6 registration certificates were received, and we expect to receive
another 4-6 approvals in 2021. Currently, the R&D pipeline includes more than 20 products.
Role of HSCI PJSC as a Management Company
HSCI PJSC is a diversified company that acts as a strategic investor investing in various businesses and
manages assets of different classes (companies and projects). Each of the businesses organized as a
separate legal entity has its own separate and independent teams that may avail themselves of the HSCI
infrastructure and accelerator services, but can also do business independently. Each company in the
Group has its own development plan, including a plan for increasing value and raising capital.
PJSC HSCI is the controlling shareholder in most of its businesses. The strategic goal of HSCI PJSC is to
increase shareholder value by maintaining leading positions in existing markets, as well as creating unique
and high-tech products and services to win new niches and markets.
HSCI PJSC benefits from an increase in the value of its portfolio companies, receives dividends from profit-
generating companies and re-directs the received profits to finance new promising projects. In the long
term, when the flow of dividends from subsidiaries exceeds the need for financing new projects, HSCI PJSC
will be able to use the received profit to pay dividends to shareholders.
The Group includes 12 legal entities, including PJSC HSCI, which acts as a management company, whose
tasks include strategic management of businesses within the group, searching for new projects, conducting
R&D, and commercializing new products. The portfolio of HSCI PJSC includes high-quality assets with high
growth potential.
The Group's portfolio includes the following lines of business:
• Gemabank (PJSC IMCB) is the largest bank for personal storage of umbilical cord blood stem cells
in Russia and the CIS with revenues of Rub 242 million in 2019 and EBITDA of Rub 133 million
(https://gemabank.ru/). Gemabank is the main generator of the Group's free cash flow today. In
390
494
645
836
1 084
2016 2017 2018 2019 2020
3. 3
2019, Gemabank successfully placed 15% of the newly increased share capital on the Moscow
Exchange (ticker: GEMA). Currently, almost all net profit is distributed to shareholders in the form
of dividends, which are paid quarterly.
• Genetico (LLC "CGRM" GENETICO ") is the leader of the Russian market of genetic tests in Russia
with revenues of 360 million rubles in 2020, experience in technology transfer, development of
proprietary NGS test systems. Genetico conducts business in the market of genetic tests in Russia,
which includes preimplantation genetic testing (PGT), non-invasive prenatal testing (NIPT) and NGS
sequencing used for the diagnosis and treatment of cancer and other serious diseases, as well as
in scientific purposes. The company has 20-40% of the market in the Russian Federation in various
sectors of the genetic testing. Currently, it is completing R&D stage for six test systems of our own
design. Amid the novel coronavirus infection pandemic, the company's revenue fell by 10% in 2020,
compared with a 40% increase in 2019. The company is still in a stage when it is necessary to invest
money in the development and expansion of its market presence.
• Neovasculgen (LLC "Nextgen", LLC "Nextgen Pharma") - the world's only registered gene therapy
drug for the treatment of PAD. The drug is included in the Government Essential Drugs List,
National guidelines for the treatment of PAD patients, Clinical guidelines of the Ministry of Health
of the Russian Federation for the treatment of lower limb artery diseases, OMS (Government
Reimbursement Program) treatment standards (new clinical and statistical groups have been
introduced for therapeutic angiogenesis both on outpatient basis and in hospitals). LLC "Nextgen"
owns a package of intellectual property for the drug, including know-how and patents in Russia
and other countries for the active ingredient (AI) and dosage formulation. LLC "Nextgen Pharma"
is an entity that in responsible for sales and distribution. Currently, these two companies are
engaged in R&D and commercialization of novel gene therapy solutions, development and
distribution of antibody tests for SARS-CoV-2. The business of selling Neovasculgen demonstrates
steady growth: sales revenue in 2020 reached 140 million rubles, which is 87% more than in 2019.
It is a profitable business generating growing cash flows to the company. In addition to the sales
and distribution of the drug, in 2020 responding to the new challenges of the COVID-19
environment Nextgen Pharma LLC launched sales and distribution of antibody tests for SARS-CoV-
2.
• Reprobank (Reprolab LLC) operates on the market of donor reproductive biomaterials (sperm and
oocytes) and provides services of personal and donor banking of reproductive cells and tissues,
including the procurement and sale of donor reproductive cells (sperm and eggs), cryopreservation
of personal reproductive samples, professional long-term storage and transportation of
reproductive cells and tissues. The company works in partnership with leading medical centers and
IVF clinics in Russia. Revenue in 2020 increased by 98% and reached 178 million rubles, of which
78 million came from sales of tests for Covid-19. Reprobank's business is profitable.
• SPRS-therapy (Vitacel LLC) - skin restoration services based on a patented innovative technology of
using autologous dermal fibroblasts to treat age-related and cicatricial skin defects (SPRS-therapy).
The business consistently generates revenues to the tune of Rub 40 million per year and a profit
margin of up to 20%.
Impact of External Factors on the Business of the Group
The year of 2020 posed some serious challenges to the Group. As a result of the coronavirus pandemic and
the restrictions imposed in connection with it (in particular, restrictions on the operation of IVF clinics and
cosmetology centers), there was a slight drop in revenue in the businesses of genetic testing and SPRS
therapy. To counter the negative effects of the pandemic on the Group’s top line, management launched
4. 4
new product lines such as antibody tests for SARS-COV-2. This included both development of proprietary
tests and distribution of third-party test systems, including those imported from abroad. The contribution
of new COVID tests to the Group’s top line exceeded Rub 219 million in 2020.
Strategy
As HSCI has evolved into a strategic investor managing a portfolio of projects in various fast growing fields
of healthcare market, the company plans to invest in the following areas over the next five years:
• Development of new lines of business in response to the pandemic challenges – R&D and market
launch of a new vaccine against COVID-19.
• Development of gene therapy: expansion of indications for the use of Neovasculgen in Russia
(Diabetic Foot Syndrome) and development of the ART-101 drug candidate (a Neovasculgen-based
molecule) in the USA; research in the areas of muscular dystrophy; launch of a line of osteoplastic
materials based on gene-therapy for bone reconstruction and maxillo-facial surgery.
• Development of drugs against atherosclerosis based on shark antibodies.
• Development of the GENETICO project, including the expansion of the distribution network,
commercialization of proprietary test systems, and the development of oncogenetics.
• Modernization and development of IT infrastructure, including the use of artificial intelligence for
the analysis and processing of Big Data.
• R&D Center in Skolkovo.
These areas provide for the development of products and services in large and growing markets.
• Vaccine against Covid-19 - the market is up to Rub 170 billion per year in Russia. Potential market
in the Russian Federation is 50% of the population, i.e. 75 million people, or 225 million doses.
HSCI's target is 5-10% of the potential market. At the price per dose of Rub 750, the potential niche
of HSCI is from Rub 9 to 18 billion.
• Neovasculgen - the market in Russia is up to 7 Rub billion rubles per year, including the use of the
drug for the treatment of DFS.
• Genetico - the market in Russia is up to Rub 10 billion per year. Key growth driver will be inclusion
of Genetico products into standards of care and reimbursement.
• ArtGen - development of ART-101 drug candidate (based on the Neovasculgen drug) in the USA -
$2.6 billion. DE-risked project since Neovasculgen is successfully sold in Russia (sales grow at 60-
70% CAGR).
In addition, the pipeline of products at the R&D stage includes innovative gene therapy drugs for the
treatment of muscular dystrophy, atherosclerosis, the development and commercialization of a line of
osteoplastic materials based on gene-therapy for bone reconstruction and maxillo-facial surgery.
5. 5
Vaccine. Project BetuVax
One of the most promising fields in vaccine development is virus-like particles. Such particles are developed
on the basis of viruses, which are inserted in the genetic material of other viral antigens or on the basis of
nanoparticles (corpuscles), on the surface of which viral antigens are located. The second option is
preferable, as in this case there is no induction of viruses-related genetic material into the body. In the light
of the above, new opportunities arise for the development of new adjuvants and the design of adjuvant-
based recombinant vaccines.
BetuVax is a project of the development of vaccines against various infectious diseases based on a unique
platform that could be used for designing different types of vaccines (hepatitis, cancer vaccines, papilloma,
etc.). The first vaccine is against SARS-COV-2.
As of the date of writing this report, the company has successfully completed pre-clinical trials of the
vaccine and submitted application to the Russian regulatory authority for permission to start Phase 1-2
clinical trials.
Key advantage of BetuVax is that it is a safe and potentially effective new generation vaccine that does not
carry genetic material, does not use virus vectors, does not get incorporated into cells, produces high levels
of neutralizing antibodies, is affordable in terms of production scaling and the final price.
Neovasculgen – Expanding Indications
Currently, the drug is registered in Russia and indicated for the treatment of PAD - a disease caused by a
reduction in blood flow to the lower limbs caused by atherosclerosis. The company plans to expand the
potential market for the drug to include patients with Diabetic Foot Syndrome (DFS).
Considering that 10-15% of patients with diabetes in Russia have symptoms of DFS, the total available
market (TAM) for this nosology is 350-400 thousand patients per year, or Rub 12-14 billion. The realistically
achievable market is about Rub 3.5 billion per year. The company plans to complete a Phase 2 clinical trial
which is currently under way, as well as complete a Phase 3 trial and register a drug for the treatment of
DFS. The term of patent protection (monopoly) is up to 2035.
ArtGen – Development of ART-101 Drug Candidate (Based on the Neovasculgen Drug) in the USA
As part of this strategy, NextGen LLC entered into a licensing agreement with the American company
ArtGen to transfer the rights to develop and commercialize a drug based on the active substance
Neovasculgen for the treatment of PAD, DFS and Ischemic Heart Disease. The process of preparing a pre-
IND is currently underway. The US patent provides protection and monopoly until 2038. A similar company
AnGes, which conducts Phase 3 clinical trials, is worth $1.7 billion. The target market in the United States
(only for PAD) exceeds 7 million patients or $2.6 billion.
Genetico
As part of the expansion of Genetico's business, management plans to expand the geography of distribution
of the company's products and services, as well as to increase investments in marketing, advertising, sales-
force to promote the Genetico brand. The objective is to attract new prescribers (doctors who will
recommend Genetico products and services to patients), increase brand awareness and doctors' awareness
6. 6
of the company's services. This investment should result in a significant increase in revenue for Genetico's
products and services.
The second component of the project is the development of oncogenetics. Oncogenetics is one of the most
promising and actively developing sectors of the genetic testing market. In Russia, as in the whole world,
there has been an annual increase in patients with diagnosed tumor diseases. Given this backdrop, the
value of information about the genetic characteristics of the neoplasm, as well as about the patient's
predisposition to certain types of cancer, becomes of great importance. The oncogenetic test determines
the sensitivity of cancer cells and tumors to various drugs, which allows the doctor to choose the best
therapy for the patient. With the help of NGS testing, among other things, it is possible to detect mutations
that are not determined by standard diagnostic methods. Base on the results of the test, the attending
physician can identify the most effective treatment, focusing on the molecular characteristics of the tumor.
The third component of the project is proprietary tests for non-invasive prenatal diagnostics (NIPT).
Genetico is currently at the final stage of developing its own test-systems for NIPT. The next steps would
be to obtain marketing authorization for the tests (consumables used in these tests), and to bring this
product to the market.
Key Financials
Revenue and EBITDA 2015-2020, in Rub’ K under IFRS
Source: HSCI IRFS Reports
The Group's financial performance has
improved significantly over the past few
years. Consolidated revenue is growing at a
CAGR of 28%. In 2020, revenue grew by 28%
despite the crisis in the economy caused by
the coronavirus pandemic. Management
measures aimed at minimizing the impact of
the drop in consumer spending due to the
pandemic had a positive effect.
Net debt to EBITDA ratio has generally
decreased over the past 2 years and
amounted to 1.2x EBITDA at the end of 6
months of 2020. At the end of the year, it is
expected to increase due to the placement of
bonds by HSCI in the amount of Rub 300
million maturing in 5 years. But the effect will
be mitigated by the discharge of debt owed to
the Russian Industrial Development Fund
Source: HSCI IRFS Reports, BST Research estimates
7. 7
Key Consolidated Figures for HSCI:
Rub’K 2016 2017 2018 2019 2020
Revenue 390 356 494 441 644 688 835 575 1 084 023
Operating profit (143 671) (58 143) 117 391 180 522 197 966
Net profit / (loss) (130 968) (111 975) (18 243) 111 335 104 235
Assets 1 039 191 1 053 221 1 096 856 1 399 042 1 512 095
Equity 238 631 128 556 121 754 370 729 415 000
Unearned revenue 346 708 427 979 495 491 516 258 500 581
Net debt 60 706 304 195 308 250 192 299 245 563
EBITDA (102 557) (68 147) 2 796 198 106 205 392
Net debt / EBITDA н.п. н.п. 110,2 1,0 1,2
Intangible assets 59 151 73 458 288 531 419 863 459 047
https://hsci.ru/investoram-i-aktsioneram/financial_reporting/otchety_msfo
Unearned revenue is an important source of funding for HSCI projects, and it is mainly represented by
advance payments of customers under long-term agreements for storage of biological samples in
Gemabank. In fact, this is an income, prepaid by customers, for which Gemabank is obliged to provide
storage services. This money can be considered as quasi-equity since refund is only possible if the storage
service is not provided, which has never been the case in the business of Gemabank.
Financial Targets of HSCI
Market cap targets for HSCI broken down by project using the multiples of comparable publicly traded
companies are provided in the table below:
Comparables-based
valuation Fair value
Upside by
2025
Company EV
%
HSCI Debt Mcap Method Mcap
Gemabank 1 318 229 87% 30 000 1 288 229 хEBITDA 1 504 994
Genetico 2 500 000 92% 145 000 2 355 000 хSales 3 500 000
Reprobank 826 000 92% 0 826 000 хEBITDA 1 300 000
Nextgene 834 000 90% 0 834 000 хEBITDA 2 483 153
SPRS 75 643 60% 0 75 643 хSales 100 000
Betuvax 990 000 80% 36 000 954 200 Vaccitech 10 000 000
Artgen 750 000 90% 0 750 000 gene-therapy co's 7 000 000
EV 7 293 872 7 083 072 25 888 147
net debt 211 000
Mcap 6 872 072 25 888 147
# of shares 75 000 100 000
Price per share 91 260
Source: BST Research estimates
A significant portion of HSCI’s revenue and operating profit might come from the COVID-19 vaccine project
although in the above scenario vaccine revenues could be grossly underestimated. This table does not show
the contribution from the ArtGen project in the United States, related to the development of the drug
Neovasculgen in the United States. We believe that on the horizon of 2021-2025, this project will still be in
8. 8
the clinical trials phase and will not generate revenue. However, its contribution to the capitalization of
HSCI Group will be significant.
The targets for market cap of the American company Artgen are based on the assumption that HSCI will
have a 50% stake in the company, and the capitalization of the company at the stage of completion of
Phase 2 - the beginning of Phase 3 CI will be at least $ 200 million.
We conducted analysis of M&A transactions in Russia and also put together EV/Sales and EV/EBITDA
multiples analysis for comparable publicly traded companies by the Group’s business lines.
Genetico
Source: BST Research estimates
Gemabank
Source: BST Research estimates
Reprobank
M&A Transaction Genetic Testing in Russia
Target Buyer
Amount,
Rub'M
Share Valuation
Revenue of targetin
the year prior to deal
Revenue of target in
the year of deal
Multiple
EV/Sales
Genotek Pharmstandart 60 17,50% 343 85 72 4,0
Onkodiagnostika Atlas Primer Capital 5 5% 100 7 1 14,3
Labs,Test Developers, Testing Service Providers
million units
Name of company Country Ticker Currency Mcap EV Sales 12m,ttm EBITDA 12m, ttm
EV/Sales,
12m ttm
EV/EBITDA
12m ttm
Invitae Corporation (NVTA) USA NVTA USD 8 990 9 290 240 -300 39 na
Myriad Genetics USA MYGN USD 1 290 1 430 600 -162 2 na
LabCorp USA LH USD 19 750 25 760 12 442 2 089 2 12,3
Quest Diagnostics USA DGX USD 13 770 18 200 7 540 1 500 2 12,1
Guardant Health USA GH USD 11 410 10 440 214 -55 49 na
Average 18,9 12,2
Median 2,4 12,2
TOTALs
Average 16,1 12,2
Median 4,0 12,2
GENETICO Rub'M 5 591 5 892 366 16,1
Rub'M 1 176 1 476 4,0
Biobanking
million units
Name of company Country Ticker Currency Mcap EV Sales 12m,ttm EBITDA 12m, ttm
EV/Sales,
12m ttm
EV/EBITDA
12m ttm
VITA 34 AG Germany NVTA USD 61 53 24 5 2,2 11,0
PBKM Poland MYGN USD 199 159 54 6 2,9 26,4
Cryosite Australia LH USD 10 8 7 2 1,2 5,0
Cryo Cell USA CCEL USD 57 56 32 7 1,8 8,5
Cordlife Ltd Malaysia GH USD 101 56 58 6 1,0 9,3
Average 1,8 12,0
Median 1,8 9,3
GEMABANK EV/EBITDA Rub'M 1 635 1 665 138 1,8 12,0
EV/EBITDA Rub'M 1 261 1 291 1,8 9,3
9. 9
Source: BST Research estimates
SPRS-Therapy
Source: BST Research estimates
Nextgen
Source: BST Research estimates
Risks: success of clinical trials, competition among vaccines / gene therapy drugs, rapid end of the
pandemic
Clinical trials of the BetuVax vaccine are expected to begin in January 2021. If Phase 1-2 is successful, the
company can obtain marketing authorization and start commercial sales while simultaneously conducting
Phase 3 clinical trials. Delays or failure to meet this timeline and / or achieve the required efficacy
indicators, as well as the rapid vaccination of the population with competitive vaccines against Covid-19 or
the rapid end of the pandemic, may lead to a decrease or lack of demand for the company's products.
Clinical trials of a gene therapy platform in the United States will also require a significant amount of time
ART services (assisted reproductive technologies)
в млн. единиц
Name of company Country Ticker Currency Mcap EV Sales 12m,ttm EBITDA 12m, ttm
EV/Sales,
12m ttm
EV/EBITDA
12m ttm
Monash IVF Group Australia MVF USD 226 256 107 24 2,4 10,5
Virtus Health Australia VRT USD 329 491 192 23 2,6 21,4
Average 2,5 15,9
Median 2,5 15,9
REPROBANK EV/Sales Rub'M 377 377 153 52 2,5 15,9
EV/Sales Rub'M 377 377 2,5 15,9
REPROBANK EV/EBITDA Rub'M 826 826 52 2,5 15,9
EV/EBITDA Rub'M 826 826 2,5 15,9
Cell techlology - comparables for SPRS-therapy
Target Buyer Сумма, $ млн Share Valuation
Revenue of targetin the
year prior to deal
Revenue of target in
the year of deal
Multiple
EV/Sales
Fibrocell Science, Inc
Castle Creek
Pharmaceutical 63 100,00% 63 25 2,5
SPRS-therapy EV/Sales Rub'M 76 30 2,5
Pharmaceuticls
in million units
Name of company Country Ticker Currency Mcap EV Sales 12m,ttm EBITDA 12m, ttm
EV/Sales,
12m ttm
EV/EBITDA
12m ttm
Novartis USA NVS USD 199 226 50 17 4,5 13,3
Pfizer USA PFE USD 202 253 49 15 5,2 16,6
Merck USA MRK USD 203 224 47 18 4,7 12,4
Ionis Pharmaceuticals USA IONS USD 7 5 0,9 0,2 5,8 34,5
Sanofi France SNY USD 128 139 38 18 3,7 7,8
Amgen USA AMGN USD 138 160 25,0 12,9 6,4 12,4
Uniqure The Netherlands QURE USD 2,1 1,8 0 -0,1 306,7 нп
Selecta Biosciances USA SELB USD 0,4 0,2 0,01 -0,1 21,2 нп
Regenbixio USA RGNX USD 1,4 1,2 0,1 -0,1 8,2 нп
Sarepta Therapeutics USA SRPT USD 10,4 9,3 0,5 -0,6 18,8 нп
Regenxbio USA RGNX USD 1,3 1,2 0,1 -0,1 8,2 нп
Bluebird Bio USA BLUE USD 2,9 1,9 0,3 -0,6 7,6 нп
Average 4,3 16,2
Median 7,0 12,9
Nextgen (+DFS) EV/Sales Rub'M 515 515 119 4,3
EV/Sales Rub'M 834 834 7,0
10. 10
and money, and delays in bringing the drug to market, as well as competition in the gene therapy market,
may also lead to reduced or no demand for the company's products.
Disclaimer
This is not an investment recommendation.
Certain statements in this presentation are forward-looking statements within the meaning of the U.S. federal securities laws and
are intended to be covered by the safe harbors created thereby.
Those forward-looking statements include, but are not limited to:
• management’s assessment of the Company’s future results, including revenue, net profit(loss), profit(loss) per share,
dividends, investments, capital structure, margins and other operating and financial results;
• forecasts of the present value of future cash flows and related factors;
• the Company’s plans, goals and tasks relating, among other things, to its products and services development;
• the Company’s expectations with respect to improving its corporate governance practices;
• the Company’s market position – as anticipated;
• economic outlook and industry trends;
• the Company’s expectations as to the sector regulation and assessment of impact of regulatory initiatives on the
Company’s activity;
• assumptions and prerequisites under the statements.
Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ
materially from those expressed or implied by these forward-looking statements.
These risks include the risk of changes in political, economic and social conditions in Russia as well as changes in global economic
environment, the risks relating to changes in industry regulation and the Russian legislation, the risk of changes in the Company’s
operations and business prospects, the competition and other risks.
For a more detailed discussion of these and other factors, see the Company’s Annual Report and other public filings.
This information is not an individual investment recommendation, and the financial instruments or transactions mentioned in it
may not necessarily correspond to your investment profile and investment goals (expectations). Determining whether a financial
instrument or transaction matches your interests, investment goals, investment horizon and level of acceptable risk is your task.
GIG is not responsible for possible losses in the event of transactions or investments in financial instruments mentioned in this
information, and does not recommend using this information as the only source of information when making an investment
decision.