Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
We're maintaining our JPY 5,100 per share Takeda fair value estimate and Shire GBX 4,970 per share/$191 per ADS fair value estimates following Takeda and Shire's Dec. 5 shareholder votes in support of the Shire acquisition. With 88% of Takeda shareholder votes supporting a share issuance required as part of the deal (two thirds of votes were necessary) and more than 99% of Shire shareholder votes supporting the deal (75% were required), there are no more significant obstacles to the deal, which ...
SHIRE PLC. (US), a company active in the Biotechnology industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 1 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date December 4, 2018, the closing price was USD ...
The Vanguard Group, Inc. ( ) Form 8.3 - The Vanguard Group, Inc.: Shire plc 16-Nov-2018 / 15:02 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. FORM 8.3  PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code")  1. KEY INFORMATION  (a) Full name of discloser: The Vanguard Group, Inc. (b) Owner or controller of interests and short posit...
Shire reported solid third-quarter results despite headwinds on gross margin due to product mix and foreign exchange effects, and we're maintaining our fair value estimate as we approach the expected close of the acquisition by Takeda (we assume first quarter of 2019). Third-quarter product sales grew 6% to $3.8 billion driven by immunology (12% growth), which showed strong continued demand for plasma-derived immunoglobulin and albumin (8% growth) and also hereditary angioedema drugs (23% growth...
Shire reported solid third-quarter results despite headwinds on gross margin due to product mix and foreign exchange effects, and we're maintaining our fair value estimate as we approach the expected close of the acquisition by Takeda (we assume first quarter of 2019). Third-quarter product sales grew 6% to $3.8 billion driven by immunology (12% growth), which showed strong continued demand for plasma-derived immunoglobulin and albumin (8% growth) and also hereditary angioedema drugs (23% growth...
Through several acquisitions, Shire has transformed from a neurology-focused specialty pharma to a more diversified firm with increasing exposure to biologics manufacturing and rare diseases. Shire relies on acquisitions to supplement its portfolio, and while we remain skeptical of the Baxalta acquisition due to serious competitive threats in hemophilia, other recent deals (ViroPharma/Cinryze, SARcode/Xiidra, Dyax/Takhzyro) have been beneficial to the firm's growth and competitive advantages. Fo...
Grifols presented phase 2b/3 AMBAR data at Clinical Trials on Alzheimer's Disease (CTAD) in Barcelona on Oct. 27 that indicated a positive effect of plasma exchange on disease progression in patients with Alzheimer's, with a particularly strong effect in the subgroup of patients with moderate disease. While the analysis is not complete and several questions are still outstanding, we expect this to drive a limited amount of off-label demand for albumin (and potentially immunoglobulin) from plasma...
Grifols presented phase 2b/3 AMBAR data at Clinical Trials on Alzheimer's Disease (CTAD) in Barcelona on Oct. 27 that indicated a positive effect of plasma exchange on disease progression in patients with Alzheimer's, with a particularly strong effect in the subgroup of patients with moderate disease. While the analysis is not complete and several questions are still outstanding, we expect this to drive a limited amount of off-label demand for albumin (and potentially immunoglobulin) from plasma...
Grifols presented phase 2b/3 AMBAR data at Clinical Trials on Alzheimer's Disease (CTAD) in Barcelona on Oct. 27 that indicated a positive effect of plasma exchange on disease progression in patients with Alzheimer's, with a particularly strong effect in the subgroup of patients with moderate disease. While the analysis is not complete and several questions are still outstanding, we expect this to drive a limited amount of off-label demand for albumin (and potentially immunoglobulin) from plasma...
Following separate quarterly earnings announcements from Takeda and Shire, where management reiterated their outlooks for the full fiscal year, we maintain our JPY 5,100 per share fair value estimate for Takeda, where we still assume that the firm acquires Shire toward the end of its fiscal 2018 (early calendar 2019). Given recent share price appreciation for Takeda, we're increasing our fair value estimate for Shire to GBX 4,990 (from GBX 4,890); we assume a 100% probability of the acquisition ...
Following separate quarterly earnings announcements from Takeda and Shire, where management reiterated their outlooks for the full fiscal year, we maintain our JPY 5,100 per share fair value estimate for Takeda, where we still assume that the firm acquires Shire toward the end of its fiscal 2018 (early calendar 2019). Given recent share price appreciation for Takeda, we're increasing our fair value estimate for Shire to GBX 4,990 (from GBX 4,890); we assume a 100% probability of the acquisition ...
Following separate quarterly earnings announcements from Takeda and Shire, where management reiterated their outlooks for the full fiscal year, we maintain our JPY 5,100 per share fair value estimate for Takeda, where we still assume that the firm acquires Shire toward the end of its fiscal 2018 (early calendar 2019). Given recent share price appreciation for Takeda, we're increasing our fair value estimate for Shire to GBX 4,990 (from GBX 4,890); we assume a 100% probability of the acquisition ...
We’ve slightly lowered our Takeda fair value estimate to JPY 5,100 from JPY 5,400 after incorporating the close of the Shire acquisition before the end of Takeda’s fiscal 2018 (we assume early calendar 2019) and mixed expectations for Takeda’s own portfolio this year and beyond, following the release of its fiscal 2017 financial results. Regarding Takeda’s valuation impact from the Shire acquisition, we think the deal is fairly neutral to our valuation; we see positive impacts (extra cas...
The Trump administration’s policy paper titled “The Trump Administration Blueprint to Lower Drug Prices and Reduce Out-of-Pocket Costs†offers proposals that don’t impact our moat ratings in the Big Pharma and Biotech industries, and the pricing power of branded drugs in the U.S. still looks strong. The blueprint’s near-term focus largely supports increasing generic drug competition, slightly strengthening Medicare drug price negotiations, improving drug price transparency, and providi...
Trump’s policy speech on lowering drug prices didn’t offer many specifics and focused mostly on reducing middleman profits and raising drug prices overseas. Based on the 2019 U.S. government budget proposal and the Council of Economic Advisors white paper on drug policy, we expect only modest negative headwinds to branded drug prices. We continue to view moats within Big Pharma/Biotech industries as intact, supported by strong pricing power for patent protected drugs. We view the branded dru...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Shire plc (Nasdaq: SHPG) (“Shire” or the “Company”) relating to the proposed buyout of Shire by Takeda Pharmaceutical Company Limited. Under the terms of the agreement, Shire shareholders are anticipated to receive $30.33 in cash and either 0.839 Takeda shares or 1.678 Takeda ...
NEW YORK--(BUSINESS WIRE)-- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Shire plc (“Shire” or the “Company”) (NASDAQGS: SHPG) stock prior to May 8, 2018. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Shire to Takeda Pharmaceutical Company Limited. Under the terms of the transaction, Shire shareholders will receive $30.33 in cash and either 0.839 Takeda shares or 1.678 Takeda Amer...
We’re not making any changes to our fair value estimates for Shire (GBP 48.90 per share/$205 per ADR) or Takeda (JPY 5,400) following Shire’s first-quarter results and continued negotiations between the two firms regarding a merger. The latest offer from Takeda, made on April 24—GBP 49 per share, including almost GBP 22 per share in cash (the highest proportion of cash of any of the prior four offers)—is not a formal bid, but we expect Takeda to formalize the bid by the new May 8 deadlin...
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