Boiron : Q2 2020 sales short of expectations - Covid-19 effect in the US from June – Neutral vs Buy – target price: € 40 vs € 41.3
>Q2 fell short of our expectations (Covid-19 impact in Europe and US) - Q2 sales came in at € 97m, -14.5% and -17%e on cc. The OTC business posted € 48.3m, i.e. -1%, and non-proprietary homoeopathic treatments € 48.3m, or -25% (impact of France).At end-June, sales thus showed a decline of 1.2%, or € 253.6m. Although inventories of winter specialty treatments look low, Boiron expects a drop in sales and earnings for 2020 (sales in France are to continue to b...Boiron manufactures and markets homeopathic medicines. Homeopathic medicines are prepared from vegetable, animal, mineral, or chemical substances, which are diluted. Co. sells three types of products in 59 countries: Non-proprietary homeopathic medicines, OTC family medication specialties, and Other products. There are two large families of homeopathic medicines: Those associated with precise therapeutic indications and dosage, and those that do not mention a therapeutic indication or dosage. Co. supports homeopathy education and training organizations for healthcare professionals. Some of Co.'s brand names include Oscillococcinum®, Stodal®, S?datif PC®, and Coryzalia.
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.
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