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Biotech Investing 2020
BIOTECH INVESTING 2020 Bill Cara www.billcara.com [email protected] 647-868-6013 JULY 20, 2020 A. Report Overview This Greenfield Capital (billcara.com) report on the Biotechnology industry is written by a registered investment consultant & portfolio manager, not by a scientist. Our objective is to provide education and information to investors who lack the tools to trade successfully in an industry made vitally important to the world by the coronavirus pandemic of 2020. If we want to live through this pandemic -- and future ones -- where it is possible that hundreds of millions of us could perish because of the lack of diagnostics, vaccines, and therapeutics, then as investors we should be keenly interested in the Biotech industry. News reports state that in just six and a half months, COVID-19, initially called SARS- CoV-2, has killed more people than the number of Americans who die each year from opioid overdose (46,000), traffic accidents (36,500), and gun violence (40,000) combined. But, currently, there is no vaccine for COVID-19, and the treatment options for patients with severe or life-threatening symptoms are limited. As the world struggles to contain the deadly virus, there are, fortunately, over 140 coronavirus vaccines in development. News is breaking every day. At the same time, however, many individuals who are trading in Biotech stocks remain woefully uninformed and are speculating wildly. Some Biotech stocks that have appreciated 100% or more in a few months on hopefulness may have trouble sustaining gains beyond the news peak. Still, for investors who study this industry, there are opportunities right now to buy Biotech stocks that will grow in price well into the future. -
The Top 100 November, 2016 a List of Stocks Topping Our Custom 'Torpedo’ Screen
The Top 100 November, 2016 A list of stocks topping our custom 'torpedo’ screen. Updated monthly. GPRO GoPro, Inc. Class A Consumer Discretionary TSLA Tesla Motors, Inc. Consumer Discretionary UA Under Armour, Inc. Class A Consumer Discretionary CRC California Resources Corp Energy CRZO Carrizo Oil & Gas, Inc. Energy CWEI Clayton Williams Energy, Inc. Energy FANG Diamondback Energy, Inc. Energy GST Gastar Exploration, Inc. Energy MPLX MPLX LP Energy RSPP RSP Permian, Inc. Energy SLCA U.S. Silica Holdings, Inc. Energy AAC AAC Holdings, Inc. Health Care ABEO Abeona Therapeutics, Inc. Health Care ACAD ACADIA Pharmaceuticals Inc. Health Care ADMP Adamis Pharmaceuticals Corporation Health Care ADMS Adamas Pharmaceuticals, Inc. Health Care ADXS Advaxis, Inc. Health Care AIMT Aimmune Therapeutics Inc Health Care AKBA Akebia Therapeutics, Inc. Health Care ALDR Alder Biopharmaceuticals, Inc. Health Care ARDM Aradigm Corporation Health Care ARDX Ardelyx, Inc. Health Care ARLZ Aralez Pharmaceuticals Inc. Health Care ATRA Atara Biotherapeutics Inc Health Care BCRX BioCryst Pharmaceuticals, Inc. Health Care BLUE bluebird bio, Inc. Health Care CARA Cara Therapeutics Inc Health Care CDNA CareDx, Inc. Health Care CEMP Cempra, Inc. Health Care CERS Cerus Corporation Health Care CFMS ConforMIS Inc Health Care CLVS Clovis Oncology, Inc. Health Care COLL Collegium Pharmaceutical, Inc. Health Care CORI Corium International, Inc. Health Care CRMD CorMedix Inc. Health Care CSU Capital Senior Living Corporation Health Care DERM Dermira Inc Health Care DVAX Dynavax Technologies Corporation Health Care DXCM DexCom, Inc. Health Care EPZM Epizyme, Inc. Health Care FOLD Amicus Therapeutics, Inc. Health Care HRTX Heron Therapeutics Inc Health Care ICPT Intercept Pharmaceuticals, Inc. -
Manufacturers and Wholesalers Street
Nevada AB128 Code of Conduct Compliant Companies Manufacturers and Wholesalers Street City ST Zip 10 Edison Street LLC 13 Edison Street LLC Abbott Diabetes Care Division Abbott Diagnostic Division Abbott Electrophysiology (including Kalila Medical 2- 2016)) Abbott Laboratories 100 Abbott Park Road, Dept. EC10, Bldg. APGA-2 Abbott Park IL 60064 Abbott Medical Optics Abbott Molecular Division Abbott Nutrition Products Division Abbott Vascular Division (includes Tendyne 9-2015) AbbVie, Inc. 1 N. Waukegan Road North Chicago IL 60064 Acadia Phamaceuticals 3611 Valley Centre Drive, Suite 300 San Diego CA 92130 Accelero Health Partners, LLC Acclarent, Inc. 1525-B O'Brien Dr. Menlo Park CA 94025 Accuri Cyometers, Inc. Ace Surgical Supply, Inc. 1034 Pearl St. Brockton MA 02301 Acorda Therapeutics, Inc. 420 Sawmill River Road Ardsley NY 10532 AcriVet, Inc. Actavis W.C. Holding, Inc. Morris Corporate Center III, 400 Interpace Parkway Parsippany NJ 07054 Actavis , Inc. Actelion Pharmaceuticals US, Inc. 5000 Shoreline Court, Suite 200 S. San Francisco CA 94080 Activis 400 Interpace parkway Parsippany NJ 07054 A-Dec, Inc. 2601 Crestview Dr. Newberg OR 97132 Advanced Respiratory, Inc. Advanced Sterilization Products 33 Technology Drive Irvine CA 92618 Advanced Vision Research, Inc., dba Akorn Consumer Health Aegerion Pharmaceuticals, Inc. 101 Main Street, Suite 1850 Cambridge MA 02142 Aesculap Implant Systems, Inc. Aesculap, Inc. 3773 Corporate Parkway Center Valley PA 18034 Aesthera Corporation Afaxys, Inc. PO Box 20158 Charleston SC 29413 AGMS, Inc. Akorn (New Jersey) Inc. Page 1 of 23 Pages 2/15/2017 Nevada AB128 Code of Conduct Compliant Companies Akorn AG (formerly Excelvision AG) Akorn Animal Health, Inc. -
2012 Financial Markets Preview Living Creatively
REPRINT FROM JANUARY 2, 2012 BioCentury ™ THE BERNSTEIN REPORT ON BIOBUSINESS Article Reprint • Page 1 of 8 2012 Financial Markets Preview Living creatively By Stacy Lawrence “As the capital markets Viren Mehta of Mehta Partners. “Many Senior Writer companies don’t have any option but to For small, early stage biotech compa- continue to be difficult, raise at lower valuations.” nies, 2012 could be the year of living traditional investors are able He added: “Many companies are not creatively. able to defer any longer. The moment Although public biotechs raised more to extract terms that are comes for many companies when they funds last year than ever before, the vast have to swallow hard and accept painful majority of the money was debt financing more and more onerous.” dilution.” by established companies with marketed products. Thus while the overall numbers Todd Wyche, Brinson Patrick look good and are likely to continue to do Cash on hand so, precommercial companies will have to large and mid-cap companies (see “The Market volatility and macroeconomic get creative with their financings. 1% Effect,” page 2). risk had most buysiders sitting on the Many of these companies avoided rais- In 2011, public biotechs raised $43 sidelines through the back half of 2011. ing money in 2011 because they didn’t billion, easily eclipsing the record $33.1 Bankers are hopeful that this year will be like the valuations, but Wall Streeters say billion in 2000. But debt accounted for more stable, in which case investors might they are now running out of cash. As a 82% of the total dollars raised, compared be willing to support more deal flow dur- result, they will have to use the tricks at to only 19% in 2000 (see “Debt Domi- ing 1H12 (see “Fear Factor,” page 5). -
United States Court of Appeals for The
Case 14-4353, Document 100-1, 05/16/2016, 1772362, Page1 of 37 14‐4353‐cv Apotex Inc., et al., v. Acorda Therapeutics, Inc. UNITED STATES COURT OF APPEALS FOR THE SECOND CIRCUIT August Term, 2015 (Argued: November 12, 2015 Decided: May 16, 2016) Docket No. 14‐4353‐cv ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐x APOTEX INC., et al., Plaintiffs‐Appellants, ‐ v.‐ ACORDA THERAPEUTICS, INC., Defendant‐Appellee. ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐x Before: JACOBS, LIVINGSTON and DRONEY, Circuit Judges. This appeal concerns two distinct questions: the circumstances under which the filing of a citizen petition with the Food and Drug Administration provides grounds for an antitrust claim, and the scope of false advertising Case 14-4353, Document 100-1, 05/16/2016, 1772362, Page2 of 37 liability under the Lanham Act. Plaintiffs Apotex Incorporated and Apotex Corporation appeal from the judgment of the United States District Court for the Southern District of New York (Swain, J.) that granted defendant Acorda Therapeutics, Inc.’s motion to dismiss plaintiffs’ Sherman Act claim and that granted summary judgment in favor of defendant on the Lanham Act claims (Torres, J.). Because each of these conclusions was sound, we affirm. KEITH D. PARR (with Joseph N. Froehlich, Scott B. Feder, Hugh S. Balsam, James T. Peterka, and Andy J. Miller on the brief), Locke Lord LLP, Chicago, Illinois, for Appellants Apotex Incorporated & Apotex Corporation. JOHN W. NIELDS, JR. (with Jason C. Raofield and Colin P. Watson on the brief), Covington & Burling LLP, Washington, D.C. for Appellee Acorda Therapeutics, Inc. DENNIS JACOBS, Circuit Judge: The parties are rival manufacturers of tizanidine, a drug for treating spasticity. -
Q1 Pharma Sector Snapshot
SPECIALTY & GENERIC PHARMA Q1 2021 Report Market Commentary – Debt Capital Markets Debt Markets ▪ 2020 saw increased amounts of debt used in buyouts across the board, resulting in the highest debt / EBITDA Median US Buyout Multiples levels since 2014 − The increased use of debt was driven by 2H20 back- end loaded lending activity (primarily 4Q20) as 16.0x 12.7x 14.1x 12.2x 12.0x 11.6x 11.5x certainty around the U.S. election and vaccination 11.1x 10.0x 9.8x 12.0x 9.7x expectations increased 9.4x 8.6x 8.3x 8.2x 7.5x 7.8x 5.2x 6.7x 5.7x 5.6x ▪ 8.0x 5.9x As the effects of COVID now begin to diminish, debt 5.4x 4.4x 4.1x 3.7x 4.6x 4.3x 3.8x markets have seemingly recovered, signaling that 3.6x lenders have become increasingly comfortable with 4.0x 4.3x 6.9x 6.5x 6.3x 6.0x 5.9x 5.7x 5.7x 5.7x 5.7x 5.6x 5.3x 4.5x 4.4x macroeconomic and company-specific fundamentals 4.3x 0.0x 3.2x − With increased confidence, lenders are currently looking to provide strong leverage for high-quality assets, particularly ones that have proven their Debt/EBITDA Equity/EBITDA EV/EBITDA stability through the recent market downturn Source: PitchBook ▪ The spread on U.S. high-yield debt has returned to pre- Historical US High Yield Debt Effective Yield COVID levels − 4.22% current effective yield compared with a 12.0% 11.4% 11.38% effective yield on March 23, 2020 (peak of the pandemic) 9.0% ▪ We expect increased activity by lenders in 2021 due to: 6.0% 4.2% − Pent-up demand in M&A activity driven by the impact of COVID 3.0% − Limited Partner agreements and investor -
Hy Sun Missed the Pharma Rally: the Answer Is Hidden in a Bet Many Failed — Speciality Drugs - the Economic Times
12/3/2020 Sun Pharma: Why Sun missed the pharma rally: the answer is hidden in a bet many failed — speciality drugs - The Economic Times Home ETPrime Markets News Industry RISE Politics Wealth MF Tech Jobs Opinion NRI Panache ET NOW More Aayush English Edition | E-Paper Tech Consumer Markets Corporate Governance Telecom + OTT Auto + Aviation Pharma Fintech + BFSI Economy Infra Environment Energy Business News › Prime › Pharma › Why Sun missed the pharma rally: the answer is hidden in a bet many failed — speciality drugs Getty Images MARKETS hy Sun missed the pharma rally: the answer is hidden in a bet many failed — speciality drugs Dilip Shanghvi, founder and managing director, Sun Pharmaceuticals Synopsis Sun Pharma is the only Indian company to have made some inroads into speciality drugs. What worries investors is high investments and uncertainties over ramp up in revenue. The stock can still see upside because of its current valuations, strong India business, and any positive surprises in US generic business. But it is crucial that its speciality bet pays off. BACK TO TOP https://economictimes.indiatimes.com/prime/pharma-and-healthcare/why-sun-missed-the-pharma-rally-the-answer-is-hidden-in-a-bet-many-failed-spe… 1/11 12/3/2020 Sun Pharma: Why Sun missed the pharma rally: the answer is hidden in a bet many failed — speciality drugs - The Economic Times Home ETPrime Markets NeCwasllI nitd uas trbyleRssISiEngP oilniti cdsisWgeuailthse fMoFr tTheceh InJodbisanOpinion NRI Panache ET NOW More pharmaceutical industry. The stocks of pharma companies have been on a tear since the beginning of the Covid-19 crisis. -
2020 Annual Report Products
Products 2020 Annual Report From the CEO Dear Fellow Shareholders, Perrigo’s transformation to a pure-play Consumer Self-Care Company has come a long way LQMXVWWZRVKRUW\HDUV:HKDYHUHVWRUHGVXVWDLQDEOHWRSOLQHJURZWKGHOLYHUHGRQRXU¿QDQFLDO SURPLVHVUHFRQ¿JXUHGRXUSRUWIROLRRIEXVLQHVVHVXSGDWHGWKH,7LQIUDVWUXFWXUHDQGSURFHVVHV of the Company, expanded capacity, upgraded leadership talent, installed business intelligence capabilities, built a new product pipeline of over $500 million and re-instilled a sense of pride and energy among our 11,000 team members. Making this even more remarkable, is that we kept the WUDQVIRUPDWLRQRQWUDFNLQWKHIDFHRIWKHJOREDO&29,'SDQGHPLF,KRSH\RXDUHDVSURXGRI3HUULJR¶VJOREDOWHDP DV,DPIRUKRZWKH\ZRUNHGWRNHHSHDFKRWKHUVDIHNHSWRXUHVVHQWLDOSURGXFWVÀRZLQJDQGNHSWRXUWUDQVIRUPDWLRQ to a consumer self-care company on track through all of the personal and professional uncertainty that came their way LQ7KH\DUHKHURHV As a result of their efforts, Perrigo delivered strong net sales growth for the second year in a row in 2020 and World-wide Consumer sales reached a new record high. Equally important, the team stabilized adjusted operating income after a few years of decline even as we invested over $50 million in our business and overcame $35 million RIXQSODQQHGKHDGZLQGVGXHSULPDULO\WR&29,'UHODWHGVDIHW\FRVWVDQGEXVLQHVVLPSDFWIURPWKHZHDNFROG FRXJKDQGÀXVHDVRQUHODWHGWR&29,'¶VLPSDFWRQSXEOLFOLIH$OOLQDOOZHKDGDYHU\VWURQJ\HDU Our transformation efforts reached an essential milestone after the year closed when we announced the sale of RXU3UHVFULSWLRQ3KDUPDFHXWLFDOVEXVLQHVVWR$OWDULV&DSLWDO3DUWQHUV//&7KHWUDQVDFWLRQUHLQIRUFHVRXUDELOLW\ -
NASDAQ Stock Market
Nasdaq Stock Market Friday, December 28, 2018 Name Symbol Close 1st Constitution Bancorp FCCY 19.75 1st Source SRCE 40.25 2U TWOU 48.31 21st Century Fox Cl A FOXA 47.97 21st Century Fox Cl B FOX 47.62 21Vianet Group ADR VNET 8.63 51job ADR JOBS 61.7 111 ADR YI 6.05 360 Finance ADR QFIN 15.74 1347 Property Insurance Holdings PIH 4.05 1-800-FLOWERS.COM Cl A FLWS 11.92 AAON AAON 34.85 Abiomed ABMD 318.17 Acacia Communications ACIA 37.69 Acacia Research - Acacia ACTG 3 Technologies Acadia Healthcare ACHC 25.56 ACADIA Pharmaceuticals ACAD 15.65 Acceleron Pharma XLRN 44.13 Access National ANCX 21.31 Accuray ARAY 3.45 AcelRx Pharmaceuticals ACRX 2.34 Aceto ACET 0.82 Achaogen AKAO 1.31 Achillion Pharmaceuticals ACHN 1.48 AC Immune ACIU 9.78 ACI Worldwide ACIW 27.25 Aclaris Therapeutics ACRS 7.31 ACM Research Cl A ACMR 10.47 Acorda Therapeutics ACOR 14.98 Activision Blizzard ATVI 46.8 Adamas Pharmaceuticals ADMS 8.45 Adaptimmune Therapeutics ADR ADAP 5.15 Addus HomeCare ADUS 67.27 ADDvantage Technologies Group AEY 1.43 Adobe ADBE 223.13 Adtran ADTN 10.82 Aduro Biotech ADRO 2.65 Advanced Emissions Solutions ADES 10.07 Advanced Energy Industries AEIS 42.71 Advanced Micro Devices AMD 17.82 Advaxis ADXS 0.19 Adverum Biotechnologies ADVM 3.2 Aegion AEGN 16.24 Aeglea BioTherapeutics AGLE 7.67 Aemetis AMTX 0.57 Aerie Pharmaceuticals AERI 35.52 AeroVironment AVAV 67.57 Aevi Genomic Medicine GNMX 0.67 Affimed AFMD 3.11 Agile Therapeutics AGRX 0.61 Agilysys AGYS 14.59 Agios Pharmaceuticals AGIO 45.3 AGNC Investment AGNC 17.73 AgroFresh Solutions AGFS 3.85 -
DCAT MEMBER COMPANY MEETING LOCATOR V. 4
DCAT MEMBER COMPANY MEETING LOCATOR v. 4 THE BENJAMIN Sancilio Pharmaceuticals Company, Inc. Sri Krishna Pharmaceuticals Ltd. Amino Chemicals Ltd. Zydus Pharmaceuticals (USA) Inc. Apogee Pharma, Inc. C2 PHARMA INTERCONTINENTAL BARCLAY Calyx Chemicals & Pharmaceuticals Ltd. AbbVie* ChemCon GmbH ACIC Pharmaceuticals Inc. Concord Biotech Limited Advitech SA Dipharma Francis Srl Amneal Pharmaceuticals LLC DSM Sinochem Pharmaceuticals ALP Pharm F.I.S. - Fabbrica Italiana Sintetici S.p.A. AMRI Jost Chemical Co. Asymchem Inc. Jubilant Pharma Capsugel, Now a Lonza Company* PharmSource, A GlobalData Company CBC AMERICAS Corp. PolyPeptide Group CellMark USA, LLC ROHNER Inc. Charioteer Pharmaceutical Co., Ltd., Zhejiang FIFTY NYC, A AFFINA HOTEL Chemical and Pharmaceutical Solutions Chiral Quest Corp. Chartwell Pharmaceuticals, LLC Croda, Inc. HOTEL 48LEX DFE Pharma AB BioTechnologies, Inc. DPL-US AiPing Pharmaceutical, Inc. EQ Esteve Almac Evonik Corporation Aptuit LLC FAREVA SA AZAD Fine Chemicals Ltd. Flavine North America, Inc. Cambridge Isotope Laboratories, Inc. Formosa Laboratories, Inc. CMC Biologics Grifols International S.A. Groupe Parima Hainan Poly Pharm. Co., Ltd. Navin Fluorine International Limited Harris Pharmaceutical Qualicaps, Inc. Helm AG RC2 Pharma Connect LLC Hetero USA, Inc. Recipharm Hikal, Ltd. Recro Gainesville LLC Interchem Corporation Reed-Lane, Inc. Inventia Healthcare PVT LTD Please note: Some DCAT member companies have requested not to be listed in the locator. (*) indicates member companies with Business Meeting Spaces in more than one hotel. INTERCONTINENTAL BARCLAY CONT'D PiSA BioPharm, Inc. SPI Pharma Inc. Johnson Matthey Tapemark Kingchem Life Science LLC Unither Pharmaceutical Legacy Pharmaceutical Packaging Uquifa S.A. Lonza AG* Neuland Laboratories Ltd. LOTTE NY PALACE Orion Group AbbVie* Par Pharmaceutical, Inc. -
BTG INTERNATIONAL LIMITED V. AMNEAL PHARMACEUTICALS LLC
United States Court of Appeals for the Federal Circuit ______________________ BTG INTERNATIONAL LIMITED, JANSSEN BIOTECH, INC., JANSSEN ONCOLOGY, INC., JANSSEN RESEARCH & DEVELOPMENT, LLC, Plaintiffs-Appellants v. AMNEAL PHARMACEUTICALS LLC, AMNEAL PHARMACEUTICALS OF NEW YORK, LLC, DR. REDDY'S LABORATORIES, INC., DR. REDDY'S LABORATORIES, LTD., WOCKHARDT BIO AG, WOCKHARDT USA LLC, WOCKHARDT LTD., MYLAN PHARMACEUTICALS INC., MYLAN INC., WEST-WARD PHARMACEUTICALS CORP., NKA HIKMA PHARMACEUTICALS USA INC., HIKMA PHARMACEUTICALS LLC, TEVA PHARMACEUTICALS USA, INC., Defendants-Appellees PAR PHARMACEUTICAL, INC., PAR PHARMACEUTICAL COMPANIES, INC., RISING PHARMACEUTICALS, INC., Defendants ______________________ 2019-1147 ______________________ Appeal from the United States District Court for the District of New Jersey in Nos. 2:15-cv-05909-KM-JBC, 2:16-cv-02449-KM-JBC, 2:17-cv-06435-KM-JBC, Judge Kevin McNulty. 2 BTG INTERNATIONAL LIMITED v. AMNEAL PHARMACEUTICALS LLC - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - BTG INTERNATIONAL LIMITED, JANSSEN BIOTECH, INC., JANSSEN ONCOLOGY, INC., JANSSEN RESEARCH & DEVELOPMENT, LLC, Plaintiffs-Appellants v. AMERIGEN PHARMACEUTICALS, INC., AMERIGEN PHARMACEUTICALS LIMITED, Defendants-Appellees ______________________ 2019-1148 ______________________ Appeal from the United States District Court for the District of New Jersey in No. 2:16-cv-02449-KM-JBC, Judge Kevin McNulty. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - JANSSEN -
Pharmaceutical Cluster in Andhra Pradesh
Pharmaceutical Cluster in Andhra Pradesh Microeconomics of Competitiveness Final Project Harvard Business School Helene Herve | Lhakpa Bhuti | Saurabh Agarwal | Sonny Kushwaha | Akbar Causer May 2013 Table of Contents 1 Executive Summary ............................................................................................................................ 3 2 Introduction to India ........................................................................................................................... 4 2.1 History and Political Climate ....................................................................................................... 5 2.2 Competitive Positioning of India ................................................................................................. 6 2.2.1 Endowments .......................................................................................................................... 6 2.2.2 Economic Performance To-Date and Macroeconomic Policy .............................................. 7 2.2.3 Summary of Export Clusters ................................................................................................. 9 2.2.4 Social Infrastructure and Political Institutions .................................................................... 10 2.2.5 India Diamond .................................................................................................................... 11 3 Andhra Pradesh ................................................................................................................................