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Cool, some good stuff posted there, full video of ad https://www.youtube.com/watch?v=f9oo2Yfui5s

Visually speaking, we have the largest divergence between MSCI China index and MSCI Healthcare index.

Since Feb 2010 they have been highly correlated,healthcare has some catching up to do if this continues.

https://www.msci.com/documents/10199/53d45d8e-28a9-4a1f-8f91-c9dfddaf10bc

its easy to get distracted by the weak share price, nut looking thought he numbers in more detail really shows the momentum building.

cash balance post disposal stands at a staggering $1.44b v current market cap £2.1b

hey, but we are a hedge fund, don't worry about trivia like that ..lol

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global commercial progress and delivery of sustainable growth

· fruzaqla® (fru*****inib) ex-china in-market sales1 of $290.6 million in 2024 by takeda, sustaining momentum in its first full year driven by rapid us patient uptake, and eu and japan launches, triggering a sales milestone from takeda2. total oncology products in-market sales up 134% to $501.0 million.

· consolidated revenue from oncology products of $271.5 million, up 65%.

· net income of $37.7 million was achieved in 2024, with a cash balance of $836.1 million as of december 31, 2024, achieving financial self-reliance ahead of schedule.

· agreed partial disposal of equity in shpl3 joint venture for $608 million.

It sounds like they at least have an ear open to shareholder concerns, I guess it depends on what you view as long term.

Good progress though with consistent wins against goals.

'The long-term interests of our shareholders and benefits to patients around the world will always remain our top priorities."

'The proceeds from the SHPL disposal, on top of the ongoing profits of our globally commercialized portfolio, enables us to expedite the roll-out of this differentiated platform, which will be key to our long-term value creation.'

No worries, this is the major plant almost certainly referred to by Glanbia and THG during recent presentations, as Glanbia pointed out it takes a while to fully commission these facilities before full capacity reached (Hilmar still has a page of vacancies to fill for example).

There's a few smaller ones which are due to come online soon:

Dale Farm to invest £70m in new Tyrone cheese factory

https://www.agriland.ie/farming-news/dale-farm-to-invest-70m-in-new-tyrone-cheese-factory/

Bongards is making progress on its Perham plant expansion project

https://www.agweek.com/agribusiness/125-million-bongards-plant-expansion-provides-opportunity-for-local-farmers

€94 million to boost dairy in Brazil

https://www.dairyglobal.net/industry-and-markets/market-trends/e94-million-to-boost-dairy-in-brazil/

These plants are the end result of decisions taken maybe 2/3 years ago during last peak.

Alima are the big cheese in Poland, one to watch for future developments.

https://wheypowder.com.pl/news/

Hilmar Cuts the Ribbon at New Dodge City Facility

Hilmar, California, March 17, 2025 (GLOBE NEWSWIRE) -- Hilmar Cheese Company, Inc., one of the world’s largest cheese manufacturers and a global supplier of high-quality whey ingredients was joined by Kansas Governor Kelly, U.S. Senator Moran and other federal, state and local officials to officially mark the production of Hilmar cheese in Kansas.

https://www.globenewswire.com/news-release/2025/03/17/3043960/0/en/Hilmar-Cuts-the-Ribbon-at-New-Dodge-City-Facility.html

Not often you see tax losses built into the deal, not publicly anyway.

$100m revenue by all accounts..

https://www.prnewswire.com/news-releases/pepsico-to-acquire-poppi-302403026.html?Fds-Load-Behavior=force-external

The FTSE 100 pharma giant will buy EsoBiotec for up to £770million comprised of an initial £327million payment and another £443million in the future if it hits pre-agreed milestones.

https://www.thisismoney.co.uk/money/markets/article-14508421

Last nights movers and shakers

WuXi Biologics (Cayman) Inc. (2269.HK) +(5.08%)

INNOVENT BIO (1801.HK) +(1.87%)

BeiGene, Ltd. (6160.HK) +(2.93%)

HANG SENG INDEX (^HSI) +(2.46%)

Also iShares ETF has broken out from 2/3 year trading range..

iShares MSCI China ETF (MCHI) +(2.23%)

Yes, lucky for some I guess although they still have to close in order to bag a profit assuming they are short only, as Warren B commented 'every short seller is a guaranteed future buyer ''

The flagship 'BlueTrend' fund touted by systematica investments seems to have quietly disappeared.

https://www.rcmalternatives.com/fund/bluetrend-fund-ltd-systematica-investments/

These funds were the next big thing using quantum rhubarb ...

We complain but in honestly we wouldn't have the same opportunities without them..

Jatw, nuts, whats that about 2/3's market cap in cash, but yes, already earmarked for more R & D.

Agree, whey input prices are hugely important for margins -

Its worth looking at the chart halfway down to see just how much they have risen post pandemic (87% from 20 > 22)

https://www.myprotein.com/thezone/supplements/why-our-protein-prices-have-increased/

Myprotein have passed on some of the costs hence explanation above..

Hong Kong’s Hang Seng Index rose 2.37% as of 2:51 pm Singapore time, leading gains in Asia. Pharmaceuticals company WuXi Biologics was the top mover in the index, gaining 13.95%.

https://www.cnbc.com/2025/03/14/asia-markets-live-stocks-to-open-to-mixed-trade.html

1% notifications but this may be voluntary, DTR Rules and Regulations cover this but a bit dry.

Is THG going to get usurped by S4 tomorrow..?

From what I can see its voting only, also not available until day of EGM so you may miss submitting questions altogether.

https://www.hutch-med.com/wp-content/uploads/2025/03/HCM-EGM_Online-User-guides-EngChi_v2w-CSclean.pdf

I suppose the use of funds from the disposal is a legitimate question for shareholders, Jatw are you considering this as an opportunity to submit your own?

There is online access here https://www.hutch-med.com/shareholder-information/event-information/

Need to register and see if its possible to send in questions.

Its very clear who is selling, CD has gone through the floor..

Its difficult to move onto the next market cycle without some sort of correction, also gives the fed room to cut rates.

Not quite capitulation levels but close, Tesla getting pummelled...,

Dow tumbles 900 points, Nasdaq drops 4% as market sell-off intensifies

https://www.cnbc.com/2025/03/09/stock-market-news-today-live-updates.html

Adding a bit more background on the TLB loan, from the AR notes it appears £510m was pegged with FX derivatives, this is obviously much less than the often quoted figures on forums.

https://www.thg.com/news/inaugural-fully-underwritten-launch-of-a-510-m

Its worth reading recent ECB commentary, very dovish would not surprise me to see negative rates once again.

Read between the lines:

Treasury Secretary Bessent says economy could be ‘starting to roll a little bit’

https://www.cnbc.com/2025/03/07/treasury-secretary-bessent-says-economy-could-be-starting-to-roll-a-little-bit.html