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MARKET OUTLOOK - Healthcare, Pharma & Biotech, Perspectives & General Market Feeling
nipper
post Posted: Jul 24 2020, 01:04 PM
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QUOTE
We see increased interest in telehealth solutions, like tele ICU [intensive care unit], tele radiology, tele pathology, which can help virtual working and collaboration of care professionals, as well as move care into the community to relieve the tremendous pressure on the physical constraints of the hospitals

Frans van Houten, CEO, Philips NV [global healthcare company]



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jul 16 2020, 04:12 PM
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Australian private equity firm Crescent Capital Partners has ramped up plans to sell its pathology group, Australian Clinical Labs.
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It is understood Crescent has hired Bank of America's investment banking team to pitch the business to potential buyers, with an auction slated to kick off in coming months. Australian Clinical Labs is expected to be worth more than $600 million. The group is Australia's third biggest pathology services provider with $443 million revenue last financial year and an estimated 13.1 per cent market share, according to data collector IBISWorld.

It's expected to attract interest from the top two players Sonic Healthcare and Healius, which have about 75 per cent of the market between them, as well as other Australian health sector players, offshore groups and private equity firms.

Crescent Capital bought what was hospital owner Healthscope's Australian pathology business in $105 million to create Australian Clinical Labs in 2015. It acquired St John of Gold Health Care's pathology unit in 2016 to add chunky Victorian and Western Australian businesses to a network that already spanned across Victoria, South Australia, NSW and the Northern Territory.

...It also amid a shake up in Australian health sector assets with private equity groups stepping up ownership of private hospitals, GP clinics, radiology and other businesses.

Australian Clinical Labs' mooted auction comes as a soon-to-be cashed up Healius re-focuses on its diagnostics and day hospitals portfolio. Street Talk has written about Healius' interest in the business in the past, although it remains to be seen whether such a tie up would pass muster with the competition regulator.

It also comes amid a rollercoaster ride for the country's pathology and radiology groups. Volumes were heavily impacted in March and April as private hospitals and doctors cut back on non-emergency services, however have sprung back to life in recent months.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
nipper
post Posted: Jul 3 2020, 10:42 AM
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Emerging Health Technology companies ..... it is all about going digital

There will be challenges for all innovation companies to raise capital in the coming year from their traditional sources such as super funds, venture capital, private equity and high-net-worth individuals, because all had faced financial challenges due to COVID-19. Over the next two to three years, accessing capital is likely to be difficult, and companies attracting foreign investment would need to navigate the changed foreign investment review thresholds while they remained in place.
Capital restraints are likely to exacerbate cash-flow issues for pre-revenue companies developing medical-grade products and services. Many companies would also need highly specialised support to enter international markets, especially while barriers to international travel remained closed.

Some seventy per cent of respondents in a report, Digital Health: The Sleeping Giant of Australia's Health Technology Industry, say they intended to raise capital in the year ahead. The May 2020 survey showed that telehealth-related digital health technologies would be the biggest beneficiaries of the pandemic (85.3 per cent), followed by remote monitoring (67.6 per cent). The industry is also hopeful data analytics will benefit along with mental health-related technologies. A significant number of Australian companies are aligned to these segments, with 37 per cent developing technologies aimed for home use, a quarter developing data analytics and systems and 17 per cent focused on mental health.
According to the report released by ANDHealth, there are more than 300 emerging digital health companies across Australia



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jan 18 2020, 08:32 AM
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Seems to be a lot of work going on) in antimicrobials. Here's another (that may take the wind out of the sails of others aspirants)

https://www.advancedsciencenews.com/lights-...ound-dressings/

QUOTE
Infections are a serious threat that can have fatal consequences, especially following surgery and during wound treatment. Biomimetic hydrogels with “built-in” antimicrobial properties can significantly decrease this danger.

In the journal Angewandte Chemie, scientists have now introduced a gel that is activated by red light to produce reactive oxygen compounds that effectively kill bacteria and fungi .....




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: triage  mullokintyre  
 
nipper
post Posted: Jan 15 2020, 10:51 AM
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In Reply To: alonso's post @ Jan 15 2020, 09:51 AM

we are many ... but (what) have we learned? smile.gif


I do sell the duff ones, but not soon enough




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
alonso
post Posted: Jan 15 2020, 09:51 AM
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In Reply To: nipper's post @ Jan 15 2020, 09:48 AM

Nipper, how many of us have learned the hard way with that sector?



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"The optimist proclaims that we live in the best of all possible worlds. The pessimist fears this is true"

"What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom." Adam Smith

Said 'Thanks' for this post: nipper  Pendragon  
 

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nipper
post Posted: Jan 15 2020, 09:48 AM
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Biotech sure is a sector the 'guns' like to short
QUOTE
The latest Bronte Capital letter says biotechnology stocks are a haven for stock market scammers and will remain an attractive hunting ground for its short selling strategies.]The letter says biotech stocks are like lottery tickets that “either result in a therapeutic drug and (maybe) a lot of money or it doesn’t".

"Almost everyone, including most of the experts, are shooting in the dark. Biotech offers promoters the chance to sell worthless or nearly worthless lottery tickets to gamblers.”

Bronte Capital says it has shorted hundreds of biotech stocks and in the process it has learned from its mistakes in order to improve its trading flexibility.

The letter describes a typical problem when shorting a biotech.

“The biotech that announced (overhyped) ‘positive’ results and raised money has:
a) gone up a lot (making it a better short),
b) has a freer borrow because more shares have been issued to the public (making it a better short) but
c) has also raised cash which will make it last longer before it goes to zero (making it a worse short),” the letter says.

"We are not even sure how to weight these factors even though we have a database of several hundred past biotech shorts. “As our systems get better, we wish to fine-tune all of this. It won’t change the big-picture mix in our portfolio ... but it should hopefully be able to increase our returns or reduce our risk".




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Nov 22 2019, 05:36 PM
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Sohn stock pick: Regal’s Phil King - SHORT PolyNovo (PNV ASX)
QUOTE
There’s a lot of expensive stocks out there and one only has to look at the ASX: If the FAANG stocks look toppy trading on a multiple of 5 times sales, what then to make of the Aussie tech stocks trading on 13 times?

Well, “the biggest bubble in the Australian stockmarket today is Australian biotech,” King says, christening them the PPANCs (PolyNovo, Pro Medicus, Avita Medical, Nanosonics and Clinuvel.)

Regal is actually long Avita, but “we needed the vowel”. Healthcare stocks in Australia are prone to bubbles, King warns. We don’t have the big pharmaceutical companies like Europe, and Australians aren’t that good at valuing them.

Passive investing has surely helped fuel the rally, as four out of five PPANC stocks have joined the ASX 200.

PolyNovo is singled out as having the most downside. “We think the competition’s well established, the company’s still losing money and it’s never delivered on expectations,” King says, adding: “there’s no room for disappointment”.

Mark Twain once said a mining company is a hole in the ground with a liar on top.

An Australian biotech is a medical lab with a good salesperson on top.




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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Nov 17 2019, 07:19 PM
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Momentum among stocks in the healthcare sector is tipped to continue in 2020 as a range of small and mid-sized biotech and medical device companies hope for clinical trial results before the year's end.

The healthcare vertical has been the best performer – up 34 per cent – of the ASX 200 indices this calendar year, and the bulk of the gains have come in the second half. The rise has been led by stocks such as CSL, Cochlear and Nanosonics, putting the sector ahead of other top performers such as IT and consumer discretionary stocks.

Morgans senior analyst Scott Power said the rise in the big stocks was filtering down into the mid and small-cap segment, as investors took a renewed interest in the life sciences space.

"In this low growth world, if you can deliver good growth, you're being rewarded. The sector is definitely positioned very well for 2020," Mr Power said. "The smaller end of town is very speculative and it tends to come in cycles. There was a lot of interest in resources 24 months ago, then it moved to technology and anything software-as-a-service (SaaS). Now we're seeing money flowing into these life sciences names.

"We're seeing interest in e-health, anything digital and anything to do with artificial intelligence or medical applications with an SaaS model. Then, companies with near-term catalysts are also being closely watched ... catalysts will attract eyeballs and if they're successful, multiples will go up immediately; if not, they come down pretty quick."

Businesses that have already been re-rated on account of strong clinical trial results or sales growth include Polynovo, Paradigm Biopharmaceuticals, Nanosonics and Opthea.

Among the companies Mr Power expects will release clinical trial results or announce news of regulatory approvals before the end of 2019 are Antisense Therapeutics, Volpara Health Technologies, ResApp and Novita Healthcare...

https://www.afr.com/companies/healthcare-an...20191103-p536zt



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Sep 30 2019, 12:19 PM
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In Reply To: triage's post @ Sep 30 2019, 10:54 AM

yes its nice for a fund manager referring a CEO to a journo to allow them to talk their own book. (Nothing specific or market sensitive, mind you, just the feel good story)



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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