Eurobio Scientific: Estimates and target price revised upwards
The small French distributor of in-vitro specialty diagnostics published an 18% increase in its half-yearly sales. This increase, which must be compared to the 11% increase in sales in the second half of 2018 and 2% in the previous half, is well above our expectations. It is also well above Eurobio's long-term objectives. As a reminder, the company has set itself the objective of increasing its sales by nearly 8% per year and reaching EUR 60 million in revenue (excluding acquisitions) by 2020.
Eurobio Scientific SA, formerly Diaxonhit, is a France-based biotechnology company engaged in the field of in-vitro diagnostic. It is engaged in activities ranging from discovery to the commercialization of specialty diagnostic products. The Company owns a portfolio of diagnostic products in three specialty areas: infectious diseases; Alzheimer's disease, and cancer. It consists of Tetanos Quick Stick (TQS), which is an unitary test enabling to determine the tetanus vaccination status. It has a portfolio of in-house and co-developed products, including AclarusDx (a blood-based test for the detection of biomarkers specific for Alzheimer's disease). The portfolio includes BJI Inoplex for prosthetic infections and EHT Dx14 for breast cancer (both in validation phase). The co-developed products include research programs for the identification of predictive biomarkers of response for anti-HER2 and anti-angiogenic therapies, among others. It operates through Genbio and Eurobio Capforce Plus.
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