Report
Antonio Rodriguez Vicens

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/03/2023

La notion d’Energy Security, apparue avec le conflit entre la Russie et l’Ukraine, vient renforcer celle de supercycle, plusieurs fois évoquée. La reprise des investissements n’est plus hypothétique et devrait se poursuivre au moins sur les 5 prochaines années, non seulement dans le GNL mais aussi en offshore. Nous relevons nos attentes de Capex 2022/26 de 10%, qui devraient dépasser le précédent point haut de 2014 à cet horizon. Dans ce contexte, nous privilégions Technip Energies, T...
Underlyings
Abivax SA

ABIVAX is a clinical stage biopharmaceutical company focusing on the discovery, development and commercialization of novel anti-viral compounds and therapeutic vaccines against severe and life threatening infectious diseases. ABIVAX utilizes RNA-protein interaction interference and cytotoxic TH1 cell amplification to generate therapies to help patients clear viruses like HIV, HBV and HPV. The Company's product pipeline comprises ABX 203, which is the therapeutic vaccine candidate obtained from the Centre for Genetic Engineering and Biotechnology, Cuba (CIGB) and is intended for patients with chronic hepatitis B disease; and ABX196, the adjuvant for therapeutic vaccines, among others.

Adocia SA

ADOCIA is a biotechnology company based in France. Co. specializes in the development of formulations for already-approved therapeutic proteins with a primary focus on insulins and treatments for diabetic foot ulcers. Co.'s biotherapy products are used in tissue regeneration and for treating chronic diseases. Co.'s proprietary BioChaperone® technological platform is designed to enhance the effectiveness and safety of therapeutic proteins in areas such as wound Healing, diabetes, ulcers and monoclonal antibody creation. Co. also maintains activities in the formulation of monoclonal antibodies for the treatment of various chronic pathologies (oncology, inflammation, etc.).

AELIS FARMA SA

AZELIS GROUP NV

BENEVOLENTAI

Carl Zeiss Meditec AG

Carl Zeiss Meditec is a holding company. Co.'s businesses are focused on two primary areas: Ophthalmology and Microsurgery. In Ophthalmology, Co.'s operations are divided in to two strategic business units: Ophthalmic Systems, which includes a range of laser and diagnostic systems for ophthalmology; and Surgical Ophthalmology, which consists of activities in the field of ophthalmic implants and consumables. In Microsurgery, Co. provides surgical microscopes and visualization solutions, e. g. for ear, nose and throat surgery, or neurosurgery. These products are mainly used to assist with the removal of tumors, as well as the treatment of vascular diseases and functional disorders.

Carmat SA

Carmat is focused on the research and development of an innovative product in the medical sector, developing an orthotopic and biocompatible artificial heart which is completely implantable, as well as its electrical power supply system and remote diagnosis system. Co. is developing a long-term therapeutic solution for patients who suffer from advanced bi-ventricular heart failure and who are not eligible for cardiac transplantation and who have exhausted all drug possibilties. Co. is still in the phase of research and development and thus do not generate any revenues.

Cellectis SA

Cellectis is a gene-editing company employing its core proprietary technologies to develop products in the field of immuno-oncology. UCART19 is Co.'s lead product. UCART19 is an engineered T-cell product which drives its ability to target and kill CD19-bearing cells, such as B-cell malignancies. Co. is also developing wholly-owned product candidates UCART123, UCARTCS1 and UCART38, which are in various stages of development. UCART 123, UCARTCS1 and UCART38 are engineered T-cell products that bear CARs that seek to kill cells expressing targets CD123, CS1 and CD38, respectively, which are found in other hematologic tumors, such as acute myeloid leukemia, or AML, and multiple myeloma, or MM.

Coloplast A/S Class B

Coloplast is a supplier of intimate healthcare products and services. Co. develops and markets products that support people with diseases of a private nature. Co. operates in three business areas: Ostomy care, products for people whose intestinal outlet has been rerouted through the abdominal wall; Urology and continence care products, for people suffering from diseases of the kidneys, the urinary system and the male reproductive system; Dressings, for the treatment of chronic wounds and skin care products for prevention and treatment. Co. markets and sells its products and services globally. Co. supplies products to hospitals, institutions as well as wholesalers and retailers.

COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN

Cosmo Pharmaceuticals NV

Cosmo Pharmaceuticals N.V. is a specialty pharmaceutical company. The Company develops therapies for gastrointestinal disorders. The Company's clinical development pipeline specifically addresses treatments for inflammatory bowel diseases, colorectal cancer diagnosis and colonoscopy. It has developed a medical device for polyp excision and is developing a product for the detection of colon cancer. Its pipeline includes Lialda/Mezavant/Mesavancol, which is indicated for mild to moderate ulcerative colitis; Uceris/Cortiment, which is indicated for mild to moderate ulcerative colitis; Zacol NMX, which is indicated for intestinal disorders; Rifamycin SV MMX, which is indicated for Travelers' Diarrhea and uncomplicated diverticulitis, among others; CB-17-01, which is indicated for chromoendoscopy for colorectal cancer prevention in surveillance patients; CB-17-04, which is a sub mucosal injectable composition, and CB-01-12, which is an antibody anti-tumor necrosis factor (TNF) alpha drug.

DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT

Fagron SA

Fagron supplies products, services to professionals and institutions in the healthcare sector in Europe, the U.S.A. and Brazil. Co.'s activities are subdivided into four divisions. Through Fagron, Co. offers products and concepts for pharmaceutical compounding. Through Arseus Dental, Co. supplies dental products and concepts to dentists and dental laboratories in Belgium, the Netherlands, France, Germany and Switzerland. Through Arseus Medical, Co. supplies medical and surgical products to specialists, elderly homes, homecare nurses and hospitals in Belgium and the Netherlands. Through Corilus, Co. supplies ICT total solutions for medical specialists in Belgium, the Netherlands and France.

Fielmann AG

Fielmann is an eyewear manufacturing group based in Germany. Co. is predominately active in the optical industry and operates across every level: as manufacturer, agent and optician. Co. is involved in the operation of and investment in opticians' shops, hearing aid companies and the manufacture of and trade in visual aids and other optical products, in particular spectacles, spectacle frames and lenses, sunglasses, contact lenses, related articles and accessories, freely traded merchandise not subject to licensing of all kinds as well as hearing aids and related accessories. Co. markets its products in Germany, Switzerland, Austria, Belarus, Ukraine, Poland, Netherlands, and Luxembourg.

Fraport AG

Fraport AG Frankfurt Airport Services Worldwide is an airport operator. Co. is divided into four segments: aviation, which includes airside and terminal management as well as corporate safety and security at the Frankfurt site; retail and real estate, which consists of retailing activities, parking facility and real estate management at Frankfurt Airport; ground handling, which comprises services dealing with passengers, aircraft and cargo; and external activities and services, which comprises Co.'s companies outside the Frankfurt site and auxiliary services in Frankfurt, including information technology and facility management in particular.

Genfit SA

Genfit is a biopharmaceutical company engaged in the discovery and development of drugs and biomarkers in therapeutic areas of high unmet need due to the lack of effective treatments or diagnostic tools and/or due to the increasing number of patients worldwide. Co. concentrates its research and development efforts to participate in the commercialization of treatment solutions and diagnostic tools to fight certain metabolic, inflammatory, autoimmune or fibrotic diseases affecting especially the liver (such as non-alcoholic steatohepatitis or "NASH").

Gensight Biologics SA

GenSight Biologics is a clinical-stage biotechnology company based in France. Co. is engaged in discovering and developing novel therapies for mitochondrial and neurodegenerative diseases of the eye and central nervous system by combining a gene therapy-based approach with its core technology platforms of mitochondrial targeting sequence, or MTS, and optogenetics. Co.'s initial focus has been on developing therapies for severe retinal diseases, with the goal of preserving or restoring vision in patients suffering from sight-threatening ophthalmic diseases. Co.'s product pipeline comprises two candidates for the treatment of sight-threatening retinal degenerative diseases, GSO1O and GSO3O.

Hannover Rueck SE

Hannover is global reinsurance company. Co. operates through two business groups, Non-Life Reinsurance and Life and Health Reinsurance. Non-Life Reinsurance provides structured reinsurance solutions. Co.'s target markets are Germany and North America, and its specialty lines include Marine, Aviation, Credit and Surety, Structured Reinsurance, Insurance-Linked Securities and the United Kingdom, London market and direct business. Non-Life Reinsurance's Global Reinsurance consists of treaty reinsurance worldwide, facultative reinsurance and global catastrophe business. Life and Health Reinsurance provides solutions for life and health reinsurance and financial solutions.

Innate Pharma SA Class A

Innate Pharma S.A. is a biopharmaceutical Company developing immunotherapy drugs for cancer and inflammatory diseases. Co. specializes in the development of new monoclonal antibodies targeting receptors and pathways controlling the activation of innate immunity cells. Also, Co. has three product-candidates resulting from its research platform are being tested in clinical trials; two of these by Co.'s partners, Bristol-Myers Squibb and Novo Nordisk A/S. Co. focuses on immunopharmacology and antibody technology. Co. has a panel of molecular and cellular assays and in vivo models for assessing the pharmacodynamics, the pharmacotoxicology and efficacy of drug candidates.

Mauna Kea Technologies SA Class O

Mauna Kea Technologies is a global medical device company based in France. Co. is focused on innovations in the field of endomicroscopy (microscopic imaging during endoscopy procedures). Co. is predominately active in the advent of optical biopsy. Co. researches, develops and markets innovative tools to visualize and detect cellular abnormalities during endoscopic procedures. Co.'s flagship product, Cellvizio®, a probe-based Confocal Laser Endomicroscopy (pCLE) system, provides physicians and researchers high-resolution cellular views of tissue inside the body. Co. has marketing authorizations in Thailand, United Kingdom, U.S., Brazil, Chile, South Korea, Poland, Russia and Saudi Arabia.

MedinCell SA

Medincell SA. Medincell SA is a France-based manufacturer of biological products and pharmaceutical preparations. The Company is focused on the development of therapeutic solutions with worldwide access. The Company works on both for-profit and non-profit projects, in collaboration with partners ranging from pharmaceutical corporations to physicians, from biotechnology firms to academics and foundations. Its range of products consists of three products in development phase: mdc-IRM, a subcutaneous injection in phase III clinical study for the treatment of schizophrenia; mdc-CWM, an intra-articular injection in phase II clinical study for the treatment of post-surgical pain and inflammation; mdc-TJK, a subcutaneous injection for the treatment of schizophrenia, as well as a number of other products that are in the research phase, such as mdc-WWM, which is a subcutaneous injection for contraception, and mdc-ELK, a subcutaneous injection for the treatment of depression, among others.

OSE Immunotherapeutics SA

Ose Immunotherapeutics SA, formerly Orphan Synergy Europe Pharma SA, is a France-based company principally engaged in the clinical stage biotechnological sector. The Company develops immunotherapy products against invasive or metastatic late-stage cancers. The Company offers a technology, called Memopi, which helps the immune system to eliminate malignant cells; it re-educates the body's immunological memory so that the immune system (and particularly T cytotoxic cells) attacks tumor cells by increasing the patient's specific cytotoxic T response against their cancer. The Company's main product, Texopi, is a patented combination of ten epitopes, selected and optimized from five tumor associated antigens.

Paion AG

Paion is a holding company. Through its subsidiaries, Co. is a biopharmaceutical company focusing on developing and commercializing drugs to be used in out-patient and hospital-based anesthesia, sedation and critical care services. Co.'s key compound is Remimazolam, an intravenous ultra short-acting and controllable anesthetic/sedative drug candidate in advanced stages of development for use in procedural sedation and general anesthesia.

PHAXIAM THERAPEUTICS

Erytech Pharma is a pharmaceutical company based in France. Co. is primarily engaged in developing cancer therapies that work by starving tumors. Co.'s first product (ERY-ASP), which is in phase III development, provides a therapeutic solution to frail patients with acute leukemia. Co.'s proprietary technology is based on encapsulation of therapeutic molecules into red blood cells. Co. maintains a production unit located in Lyons with "Pharmaceutical Establishment" status. Co. has also signed two distribution partnership agreements with the Orphan Europe-Recordati company and the TEVA group.

Phoenix Group Holdings plc

Phoenix Group Holdings is a closed life and pension fund consolidator. Co. manages manage life insurance funds which no longer actively sell new life or pension policies and which run-off gradually over time. Co. has one reportable segment, comprising its investment in and loans to/from Co.'s entities. Its revenue principally comprises the dividend and interest income derived from these investments and loans. As of Dec 31 2014, Co. had approximately 5.0 million policyholders and about £52.30 billion of total life company assets.

Poxel SA

Poxel is a clinical-stage biopharmaceutical company focused on the development of treatments for type 2 diabetes and metabolic disease. Co.'s two drug candidates, Imeglimin and PXL770, are intended to complement and augment existing type 2 diabetes therapies, including in patients who no longer fully respond to such therapies, with the goal of helping patients better control their type 2 diabetes and reduce potentially disabling or fatal complications.

QIAGEN NV

Qiagen is provider of Sample to Insight solutions to transform biological materials into valuable molecular insights. Co.'s sample technologies process DNA, RNA and proteins from blood, tissue and other materials. Assay technologies make these biomolecules visible and ready for analysis. Bioinformatics software interprets data. Automation solutions unite these together in molecular testing workflows. Co. provides these workflows to four classes: Molecular Diagnostics (human healthcare), Applied Testing (forensics, veterinary testing and food safety), Pharma (pharmaceutical and biotechnology companies) and Academia (life sciences research). Co. markets its products in more than 130 countries.

Quantum Genomics

Quantum Gernomics is a biotechnology firm specializing in the development of innovative drugs to combat cardiovascular diseases. Run by professionals in creating and managing technological start-ups and drug development, as well as researchers and inventors, Co. has established contractual relations with institutions of academic excellence in France (Inserm, CollA

RHON-KLINIKUM AG

Rhoen Klinikum is a healthcare service providers in Germany. Co. operated 54 hospitals throughout Germany, from basic-to maximum-care facilities, as well as 41 medical care centers (MVZs). Co. provides affordable medical care at a high level of quality.

Sartorius Stedim Biotech SA

Sartorius Stedim Biotech is a provider of equipment and services for the development, quality assurance and production processes of the biopharmaceutical industry. Co.'s solutions cover fermentation, filtration, purification, fluid management and lab technologies and membrane chromatography, including various conventional lab products to biopharmaceutical laboratories. Co.'s technologies, products and services are used to develop and manufacture medications and vaccines using biological methods. Co.'s products covers all upstream and downstream steps in the production of active pharmaceutical ingredients. It specializes in single-use products and offers technical consulting and services.

SMITH & NEPHEW PLC

Smith & Nephew is a global medical devices business operating in the markets for advanced surgical devices comprising orthopaedic reconstruction and trauma, sports medicine and advanced wound management. Co.'s advanced medical products and services include: Orthopaedic Reconstruction and Trauma (joint replacement systems for knees and hips and products to help repair broken bones); Advanced Wound Management (treatment and prevention products for hard-to-heal wounds); and Sports Medicine (implants and enabling technologies for minimally invasive repair of the joint).

STRAUMANN HOLDING AG

SYNLAB AG

Theranexus SA

Theranexus SA is a France-based company engaged in the healthcare industry. The Company is a biopharmaceutical entity that develops drug candidates to be used in the treatment of central nervous system (CNS) disorders, including epilepsy, narcolepsy, Parkinson's disease, Alzheimer's disease, neuropathic pain and psychiatric disorders. Its patented technology is aimed at increasing the efficacy of CNS drugs, which are approved and available on the market. The Company's technology is protected, scalable and versatile, and used to generate high value-added proprietary drug candidates for different conditions, while reducing time-to-market and market entry costs and risks in comparison with standard drug development processes. Theranexus SA operates in the domestic market.

Transgene SA

Transgene is a biopharmaceutical company that designs and develops immunotherapy and virotherapy products for the treatment of cancers and infectious diseases. Co. is developing three anti-cancer products that are in clinical trials: (cancer of the lungs, liver and oropharynx); two anti-infectious immunotherapy products also in clinical trials: (hepatitis B and C). Co. also has products in the pre-clinical development stage. Co. operates in a single business segment, the research and development of therapeutic vaccines and immunotherapy products. Co. does not have any products on the market. Substantially all of its operations are conducted in France.

Valbiotis SA

Valbiotis SA Formerly known as Valbiotis SAS. Valbiotis SA is a France-based company engaged in the biotechnology industry. The Company specializes in developing nutrition solutions designed to prevent cardiometabolic diseases and provide nutritional support for patients. It seeks to develop solutions designed to prevent type 2 diabetes, NASH, (non-alcoholic steatohepatitis) and obesity and to offer nutritional support. The Company prevents disease by developing products that reduce the risk factors of irreversible chronic diseases. It provides patient support through new-generation medical nutrition solutions containing patented substances with clinically proven effects. Its products are plant-based and undergo strict scientific and clinical tests in collaboration with academic research centers.

Valneva SE

Valneva, together with its subsidiaries, is focused on vaccine development and antibody discovery. Co. generates revenue from both its marketed product, a vaccine for the prevention of Japanese encephalitis (IXIARO®/JESPECT®), commercial partnerships around a portfolio of product candidates and licensed technology platforms (EB66® cell line, VIVA,Screen antibody discovery technology, and the IC31® adjuvant) developed by Co. Related business activities include product research and development, regulatory and clinical activities, manufacturing of commercial product and advanced clinical product candidates, as well as administrative, corporate development, and marketing and sales activities.

Wacker Chemie AG

Wacker Chemie is active in chemical products. Co. operates in five divisions: Wacker Silicones, which provides products ranging from silicone fluids and emulsions, resins, elastomers and sealants, to silanes and pyrogenic silica grades; Wacker Polymers, which manufactures binders and polymeric additives (such as dispersible polymer powders and dispersions); Wacker Biosolutions, which supplies customized biotech and catalog products for the fine-chemical sector; Wacker Polysilicon, which produces hyperpure polysilicon for the semiconductor, electronics and above all, solar sectors; and Siltronic, which supplies semiconductor manufacturers with silicon wafers.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Antonio Rodriguez Vicens

Other Reports on these Companies
Other Reports from Oddo BHF

ResearchPool Subscriptions

Get the most out of your insights

Get in touch