Consort Medical Share Discussion Threads

[broadwood] 19/3/2014 16:26

Nice enough move - eventually.

[broadwood] 19/3/2014 12:29

Nobody woken up yet.

Canaccord Genuity Consort Medical PLC 19/03/2014
Upgrades
Hold Buy 2 1,044.00 1,044.00 989.00 0 2

[broadwood] 19/3/2014 07:47

Consort Medical is trading well and in line with the board's expectations, the company's interim management statement says.

It adds: "In February we announced that Bespak's INJ300 development programme had received regulatory approval from the FDA. We are delighted to confirm that Dr. Reddy's Laboratories launched the product at the end of February. INJ300 is an autoinjector for Sumatriptan, a migraine therapy. This is the first Bespak autoinjector programme to receive regulatory approval and product launch." Consort Medical chief executive Jonathan Glenn said: "The launch of our first autoinjector represents a major milestone for Consort Medical's Injectables technology, confirms Bespak's capability in the autoinjector market, and is a significant step in the execution of our diversification strategy."

[broadwood] 19/3/2014 07:08

Encouraging statement - but enough to send higher?

[broadwood] 10/1/2014 16:09

Nice bump up. Unloved thread.

[broadwood] 10/12/2013 15:57

N+1 Singer Consort Medical PLC 10/12/2013
Retains
Buy Buy 0 870.00 1,020.00 936.50 150 2

[cerrito] 06/12/2013 22:11

To be honest was not expecting today's share price increase and in fact lightened up a bit yesterday.
The first half performance is as they say themselves solid.
Listened to the webcast.
Interested that no questions about Nicoventures n the q and a and all they said in the presentation was that it was awaiting OK from the regulators.
Glenn said that they were trading in line with expectations; Digital Look tells us consensus pre tax profit for this FY is £17.08m which would indicate that second half profit would be £8.8m up from £8.3m in first half and compared to £7 and £7.4m in the first and second halfs last year..ie quite stretching
Glenn stressed that that they were looking to reduce dependency on customer and product. Ie 10 years ago one customer produced 80% of profit; share of sales to top 5 customers going down. In terms of product sales of DPI (where they have 2 products including Chiese) going up and the old mainstay MDI going down as a proportion; indeed in the last half year MDI sales went down in actual terms but Glenn warned against reading too much into 6 month data.
Emphasized that dividend increase showed the confidence the board has in the future; dividend cover is 2.4x
I am not planning to sell more but will not be buying.

[broadwood] 06/12/2013 16:39

Nice re-rating taking place.

[broadwood] 04/12/2013 16:58

I'm in for a few.

Several analysts have increased their price targets for Consort Medical, an Aim-listed pharma company that designs and manufactures medical devices for drug delivery - like inhalers and injections. While its first half results, posted this morning, were strong and in line with expectations, it was the company's 16-strong team of innovators that the brokers are betting on.

Ingeborg Oie at Jefferies was particularly impressed with two of Consorts novel products - a syringe and an auto-injector, both of which she says "have unique features which have allegedly attracted customer interest already".

Quote We were more impressed with the update on Innovation this time than the pipeline, even if the revenue opportunities from these innovative products are further into the future.

They are also spurred on by a significant contract win announced last week, when Consort said it had clinched an exclusive deal to manufacture an inhaler product called DEV610 for a "global pharma company". While the details are still scarce - the product is under development - the projected orders are substantial enough for Consort to be constructing a new manufacturing site to meet demand once it launches in 2015.

[cerrito] 28/11/2013 08:59

Read somewhere that the cause of the recent weakness(until today's announcement) was concern about Nicoventures backing a different horse.
The inference is that the development mentioned below is not being done with CSRT-no doubt this will be flushed out in the analyst's briefing which will accompany the interims next Wednesday.
hxxp://www.thedrum.com/news/2013/11/12/nicoventures-launches-36m-marketing-campaign-e-cigarette-brand-vype

[cerrito] 07/9/2013 19:45

Fair comment Dozey3
At the start of Aug 2010 the shares were under £4 and the reality is that CSRT has done much better operationally and share price wise since Aug 2010 than I anticipated at the time.
I note most of Glen's shares were sold to pay tax; management seems sold and committed and not concerned by the sales although understand why you may have been.

[dozey3] 07/9/2013 18:26

Worth a look at hxxp://moneyextra.uk-wire.com/Article.aspx?id=201309051339183312N
LTIPS look pretty generous, and most of the recipients galloped for the exit like Gadderine swine. Doesn't inspire confidence, and I have top sliced. But WTHDIK.

[cerrito] 02/9/2013 13:10

Not sure what we learnt in the IMS today-except that not much has changed since June 13 news release, although good to hear of definitive MHRA approval for nico ventures

[the oyster] 04/8/2013 07:21

Mid-cap of the week (Telegraph Sat. August 3rd Your Money section Page 9)
by Andrew Oxlade

"BAT trumpeted an explosive expansion into the world of e-cigarettes this week as it started selling them online.The shares of this market giant edged a little higher but a smaller gem within mid caps might be a far bigger beneficiary.

Demand for e-cigarettes has been remarkable and the growth potential is colossal. Consort Medical, valued at 230 million, has a deal with BAT to supply the pumps that push the nicotine vapour into the lungs of smokers. It is billed as a healthier option.

Mark Martin whose Neptune UK mid cap fund has delivered a stunning return of 95pc over three years, is a fan. He pointed out that the medical regulator has recently announced that e-cigarettes will be regulated, thereby increasing the barriers to entry.

But there is more to this growth story. Ironically, Consort's pumps also power asthma inhalers and treatments for emphysema and other lung conditions. The growth in this market,sadly, could be even larger says Mr Martin, because of the rising popularity of smoking in countries such as China and other emerging markets. The rapid urbanisation and accompanying pollution in these countries is also increasing the prevalence of asthma. Furthermore, the recent riots in Brazil are a reminder that developing world governments will need to provide better safety nets, including increased spending on healthcare."

[cerrito] 01/8/2013 22:56

The Telegraph picked up on the annoucement by BAT in their interims yesterday on the launch of a new e cigarette brand and this made me think of Consort.
BAT bought a company called CN December last year and that is the focus of what BAT call their next generation products-hxxp://cncbio.com/about/
This seems to be separate from CSRT's counterparty-Nicoventures also part of the BAT group-www.nicoventures.co.uk where there is a good faq site.

[major clanger] 28/6/2013 16:29

Investec downgraded to add from buy... but just on valuation; TP inc to 855p from 836p

More here:

hxxp://www.brokerforecasts.com/news/article/articleId/4622746

[cerrito] 15/6/2013 23:38

Looked at prelims and also listened to the webcast which is well worth a listen.
I have always regarded them as somewhat predictable but seems to have far more going on now.
On dividends said first increase for some time but declined to say that had a progressive policy.
Emphasized very high barriers to entry given regulatory environment and difficulty of people switching suppliers-but obviously need to be as spot on with quality as they are.
Very pleased with work their Innovation Team they set up in Cambridge and in which they have invested £1m.
Said that for a product to be commercialized they are looking for £3m pa peak sales-very comfortable that Chiesi Nexthaler would be in excess of that but will not be in the £30mpa area. Started work on this 8 years ago.
Traditional BPK valve business very stable-BPK operating profit increased from £18.2m to £19.5m
In terms of Nocoventures CSRT very pleased with the recent announcement of MHRA involvement- exactly what they had hoped. Not sure if I understand the ins and outs.
The share of non respiratory products-ie injectables- will continue to increase vis a vis respiratory.
In the webcast reconfirmed the May 3 RNS about getting the first $10m King down payment by end September.
A negative was comment that IAS18 pension deficit has gone up to £11.8m
I guess the share price is about right; as I mentioned in my 50 the risks have increased as they are less diversified and the question is how they spend the cash-but after listening to quite a few webcasts and meeting management on a UKSA visit earlier in the year I am comfortable with that.

[cerrito] 18/3/2013 22:13

For me no real news either good or bad in the IMS and correctly reflected that the share price did not do much; still do not understand why the price fell so much in January

[dozey1] 15/2/2013 16:12

A relief bounce today on news that the King sale has duly been voted for and completed. I hope the directors know what they are doing, and presume the remuneration committee will prune salaries at the top now that the company's expensively re-organised surgical section has been divested. Hold on, just seen porkie fly past my window.

At least there is a half decent dividend to enjoy whilst we wait to hear of any acquisition, though according to Sharescope it is forecast to increase this year at a rate of 0.53%, so let's see, that means it will double in about 140 years. There's something not quite right here.

My interest stems from their takeover of Medical House which had some potential blockbusters in its armoury. I wonder where they are now. Some positive newsflow would be most welcome.

[cerrito] 30/1/2013 14:34

Had a quick look at the circular to see if there was an explanation for the recent share price weakness.
They do say that the disposal will be initially earnings dilutive for the continuing group which I will need to work out if as and when I have time given that King is loss making.
In the risk section they do say 2 risks are that the continuing group will be less diversified and the investments they make with the £31.7m of cash that the proforma tells us they will have may not work out; also of course for whatever reason they may not get the $50m payout.

The analysts are not happy- for example three months ago forecast eps for the FY ending 4.13 and 4.14 were 55.3p and 61p respectively; now they are 51p and 46p
I see that on Jan 11 Jeffries reiterated their buy but tweeked their forecast price down a bit from 930p to 890p.
I have made some modest topups in the last fortnight but will now bide my time.

[cerrito] 21/1/2013 22:39

price keeps falling as Aviva keeps buying..rather odd

[cerrito] 10/1/2013 19:29

Interesting that the share price is now back to where it was before the announcement of the nico venture and the King sale despite broad market doing well.
Somewhat counter-intuitive
Clear we do not really know very much about the Nico venture; if you listen to the q and a at the six month conference call you did not learn very much...as Dozey3 says the King sale looks on the face of it a full price..perhaps analysts having second thoughts

[dozey3] 20/12/2012 10:55

Double post thanks to ads