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Apontis Pharma

DB: APPH

Market Cap€200m

Last Close €23.5

Apontis Pharma is a specialty pharma company focused purely on the German market, where it has a rich commercial heritage (formerly Schwarz Pharma and then UCB Innere Medizin). Its current focus is on driving uptake of its single pills for cardiovascular disease, but it also has co-marketing agreements with large-cap pharma for branded respiratory and diabetes drugs.

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Investment summary

Following its successful IPO in May, Apontis’s maiden results highlight that the expansion of its single pill franchise continues at pace and should continue to provide high double-digit sales growth. These pills are combinations of commonly co-prescribed generic drugs that have been reformulated into one branded pill. We believe an increasing mix of these higher-margin single pills will improve profitability. Apontis’s shares have appreciated since they were initially priced at €19.0/share (up c 16%) and the company has a market cap of €187m with an EV of c €157m.

Content on Apontis Pharma
Apontis Pharma – Solid results following a successful IPO
Healthcare | Flash note | 24 August 2021
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Apontis Pharma – A phoenix rises
Healthcare | Initiation | 11 May 2021
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Share price graph
Price performance
%
1m
3m
12m
Actual (2.1) 25.0 N/A
Relative* (4.5) 22.5 N/A
52-week high/low €26.3/€16.9
*% relative to local index
Key management
Karlheinz Gast CEO