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....
>Sandoz: sale of oral generics and dermatology activities in the US - In line with our expectations, Novartis this morning announced the sale of some assets of its Sandoz generics franchise in the US. These concern the dermatology and solid oral generics businesses in the US, which represent sales of around $ 1.2bn per annum ($ 0.6bn in H1 2018), i.e. ~12% of revenues of the Sandoz franchise and around 2.5% of the group’s total sales. The sale of these assets (around...
>Sandoz : vente des génériques oraux et dermatologie aux USA - Comme nous l’attendions, Novartis annonce ce matin la vente de certains actifs de sa franchise Génériques Sandoz aux USA. Il s’agit des business dermatologie et génériques oraux solides aux USA qui représentent des ventes d’environ 1.2 Md$ par an (0.6 Md$ au S1 2018) soit ~12% des revenus de la franchise Sandoz et environ 2.5% des ventes totales du groupe. La ventes de ces actifs (environ 300 produits) à A...
>Feedback confcall post T2 : une publication appréciée - Novartis a clôturé hier soir en hausse de +3.2% - Une belle hausse compte tenu de résultats seulement légèrement supérieurs à ceux attendus par le consensus (~1.5% de mieux sur les ventes et le ROP). Hors Sandoz (-2% tcc), toujours pénalisé par une pression sur les prix des génériques US, le marché a apprécié la croissance de la division Pharma (+8% tcc), aussi bien des nouveaux produits (Cosentyx et Entresto) q...
The Innogy deal will reshuffle E.ON’s and RWE’s businesses and strategies, with each specialising on one part of the utility value chain (downstream and upstream, respectively). While the transaction will not significantly change the two companies’ level of exposure to climate transition risks (low for E.ON / high for RWE), simpler business structures and strategies should help the two German utilities to deliver (at last!) a clearer message on their contribution to climate mitigation...
The Innogy deal will reshuffle E.ON’s and RWE’s businesses and strategies, with each specialising on one part of the utility value chain (downstream and upstream, respectively). While the transaction will not significantly change the two companies’ level of exposure to climate transition risks (low for E.ON / high for RWE), simpler business structures and strategies should help the two German utilities to deliver (at last!) a clearer message on their contribution to climate mitigation...
>Feedback from conference call after Q2 results: warmly received publication - Novartis closed yesterday evening up +3.2% - A strong increase given earnings just a shade ahead of those forecast by the consensus (around 1.5% higher for sales and operating profit). Excl. Sandoz (-2%cc), still penalised by pressure on prices for US generics, the market welcomed growth for the pharma division (+8%cc), also new products (Cosentyx and Entresto) and Glivec, which showed good...
>Q2 2018: sales +5% cc/ core EBIT +7% cc/ core EPS +4% cc – In line with our estimates - Novartis reported its Q2 results this morning: good figures in line with our expectations. Group sales came to $ 13.2bn (+5% cc / +7.5% reported), in line with our expectations and 1.5% higher than the consensus. Pharma performed well (+8% cc) due in particular to good resilience in Glivec sales in the face of competition from generics but also thanks to “new†products (Cosentyx a...
>T2 2018 : CA +5% tcc / Core EBIT +7% tcc / Core BPA +4% tcc – En ligne avec nos attentes - Novartis publie ses résultats T2 ce matin : de bons chiffres en ligne avec nos attentes. Le CA groupe 13.2 Md$ (+5% tcc / +7.5% publié) ressort en ligne avec nos attentes et 1.5% supérieur aux attentes du consensus. Pharma performe très bien (+8% tcc) du fait notamment d’une bonne résistence des ventes de Glivec face aux génériques mais aussi des « nouveaux » produits (Cosentyx...
>Gilenya US, exclusivity extended – +3/5% revision of our EPS in the medium term - We have revised our model to factor in the good news from the end of last week: the commercial exclusivity for Gilenya (multiple sclerosis – the group’s biggest selling product in 2017, sales of $ 3.2bn, i.e. 6.5% of total group sales) will likely be extended thanks to the recognition of the validity of some patents (see our Equity Flash of Friday, 13 July). We are therefore no longer f...
>Gilenya US, exclusivité prolongée – révision de nos BPA de +3/5% à MT - Nous avons revu notre modèle pour prendre en compte la bonne nouvelle de la fin de la semaine dernière : l’exclusivité commerciale de Gilenya (sclérose en plaques – plus important produit du groupe en 2017, 3.2 Md$ de ventes, soit 6.5% du CA total groupe) devrait être prolongée grâce à la reconnaissance de la validité de certains brevets (voir notre note de vendredi dernier ici). Aussi, nous n’a...
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