Apontis Pharma - Solid results following a successful IPO
Following its successful IPO in May, Apontis’s maiden results highlight that the expansion of its single pill franchise continues at pace and should continue to provide high double-digit sales growth. These pills are combinations of commonly co-prescribed generic drugs that have been reformulated into one branded pill. We believe an increasing mix of these higher-margin single pills will improve profitability. Apontis’s shares have appreciated since they were initially priced at €19.0/share (up c 16%) and the company has a market cap of €187m with an EV of c €157m.
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