Member Info for Jatw

The management team has decent form on acquisitions. There is no doubt this deal brings new products and capabilities, at a full price.
I think they have their eyes on being a MUCH larger company. We can expect regular deals of increasing size with financing required.
They do need further deals to utilise their manufacturing capacity as they now have two underused factories.
I don’t see financing beyond gernerated funds being a problem.

Best not to follow the SP too closely.....it is even worse in the UK when a spread of 2p can become 20p.
Anyway volume has been quite decent in the US for a week now....

Less than 2 months to the HY results when I expect a sales upgrade.

Closing in on 900
Pleased to be a holder over the last year....before that I watched it fall from 850 to under 600.
The macro economic and political environment seem more positive than ever.

They just have to keep finding more installations and scale care assets to build and manage at the moment these seem to be available. Although at some point margins will be squeezed by new entrants.

Happy to hold and see if these can go on upwards for a while.

Quality will win out in the end.
Thanks for the comparitors.

Btw some unusual market activity in HK today. CK Life sciences up 28%....no news to link it to.

Sidi, ratbags etc
It is the other way around.
The person subject to the rule is listed under item 3 as M&G who now own the security subject to disclosure item 1.
MNG has about 2.5bn shares in isssue.

Personally I don’t use them....they may work to stop a share drifting lower than you would like. But in the event of a profit warning immediately taking 20% they may not work and just trigger a sale at the bottom. I am expecting more profit warnings to emerge if revenues fall short or costs rise significantly....of course the market may be more accepting of them post pandemic.

Last weeks presentation seems to have done HCM the world of good.
Strength and volume leading to gains.
The 2025 targets, strengthened with financial metrics are a great help to see the way forwards. It was also good to hear from the next tier down on the development, manufacturing and commercial wings in China and the US. With many of these papers still reporting early work there should be many more good news stories in the next few years.

I am looking for the SP to double by the end of 2025.

Wonder what the culture at SDR is that needs to be protected that major value creating deals can be discarded?

Schroders saying the board did not get to ask the family about bidding for MNG because of the risks to the culture at schroders.
Clearly MNG is not run by the right sort of people to work for a family controlled business. Dreadful oiks.

Aviva Q1 annuity sales were down 50%
I think we can reasonably infer that Just sales were low in Q1 hence no Q1 update. However that is good for capital generation. The inforce book will have released capital, potential credit losses will be unwound like the banks have done with their provisions....
The annuity market will recover.

Still a buy for me...plenty of upside

Who could make a return on a cash bid?
Anyone who can fund £8-10bn at a cost of less than 400m pa will be able to make a return just on taking the dividend.....
Trade buyers can also realise cost savings and value by filling in holes in their proposition/ geographic coverage.
The market needs to drive the yield down otherwise this undervalued asset will be taken private.

It will be interesting to see who they do pick.....it may be a less obvious choice as they like to go their own way.

I suppose the ideal would be a European with emerging US/ China exposure that in future Hutchmed could distribute.

One deal I have spotted recently was that Beigene has a deal with Clinigen (aim listed) for distribution in Europe.
https://www.clinigengroup.com/news/news-container/2021/clinigen-launches-managed-access-program-with-beigene-for-zanubrutinib/

I hold some Clin but much less than Hutchmed. They have bought rights to distribute an older cancer drug (Proleukin) and have capability to distribute globally. If they can revitalise this asset they will be a decent prospect, but quite deal oriented and debt heavy so DYOR

27 May…3x normal volume and a 4% gain
It seems the Asian meeting went down well.

I think this is the study Iovance is doing with proleukin it is from the Moffat center that was referenced in the Clinigen update.

https://ir.iovance.com/news-releases/news-release-details/journal-clinical-oncology-publishes-clinical-data-cohort-2/

And last year they needed to get FDA approval on assays (metrics)
https://ir.iovance.com/news-releases/news-release-details/iovance-biotherapeutics-provides-regulatory-update-lifileucel/

This implies a new biological application will be made in H1 2022. We await an update on refreshing Proleukin with the next investor presentation.

Well there has to be an acquisition coming along sometime soon….maybe they are like buses wait for one and three come along together.
TheSP is waiting to respond to converting cash in the bank into operating cash flow.

The US market seems to be liking it. Up 4.5% as I write.
Still only 28.25 when 35-40 USD would seem appropriate.

I asked if they could:
Set out financial targets for 2025 as well as pipeline
Consider giving quarterly sales updates as this seems to be a key metric in the next few years.

I would like a q3 sales figure in October and the next update on 2025 to include some financials. Let’s see if they can do that.

I think they should have taken some Qs from non analysts.....they try to be too clever sometimes.
The science is how Hcm will win. We want to know how much they think they are going to win.

13:27 you have to admire the science.

There is a sales update or announcement of a new listing...there will need to be an RNS around noon london time...as they have to announce to the market outside the business update meeting....
We will know before the meeting starts....if it is a talk through of the May 12 corporate presentation then it will be responses to questions that will be of most interest, but will probably just get the same answers.