Hyloris Moving ahead with clinical and regulatory progress

Hyloris has made clinical and regulatory progress in the last 12 months, most notably the FDA approval for Combogesic IV in the US. In addition, the company has made a number of new product announcements expanding its pipeline to 18 reformulated and repurposed products, and 3 generics. Hyloris continues to aim for 30 products by 2025, which means we should expect an eventful period in terms of new product announcements. We summarise Hyloris' progress, and revamp our model to incorporate the new product additions, landing at a new PT of €21 (from €19.5). We continue to believe in Hyloris' unique business model, and reiterate our BUY rating.