French (CAC) Healthcare Sector Analysis

Date	Market Cap	Revenue	Earnings	PE
Mon, 24 Jan 2022	€211.2b	€71.8b	€8.5b	20.8x
Wed, 22 Dec 2021	€222.0b	€71.7b	€8.5b	23.7x
Fri, 19 Nov 2021	€226.3b	€71.8b	€8.5b	23.7x
Sun, 17 Oct 2021	€216.3b	€70.5b	€8.1b	21.5x
Tue, 14 Sep 2021	€225.4b	€70.2b	€8.1b	25.9x
Thu, 12 Aug 2021	€223.8b	€70.2b	€8.1b	27.9x
Mon, 07 Jun 2021	€204.0b	€68.5b	€14.2b	28x
Sun, 28 Feb 2021	€187.8b	€67.9b	€14.0b	29x
Wed, 02 Dec 2020	€193.5b	€67.2b	€12.3b	30.4x
Sat, 05 Sep 2020	€191.2b	€66.3b	€11.7b	35x
Tue, 09 Jun 2020	€186.6b	€66.6b	€4.0b	28.3x
Mon, 02 Mar 2020	€167.7b	€65.7b	€3.3b	34.8x
Thu, 05 Dec 2019	€168.6b	€64.1b	€3.8b	36.2x
Sun, 08 Sep 2019	€157.3b	€63.1b	€4.4b	28.9x
Sat, 01 Jun 2019	€148.5b	€61.6b	€5.3b	29.4x
Tue, 05 Mar 2019	€146.9b	€60.0b	€5.2b	26.3x


Life Sciences	0.66%
Pharma	0.082%
Healthtech	-2.11%
Medical Equipment	-2.17%
Healthcare Services	-4.41%
Biotech	-5.63%

Company	Last Price	7D	1Y	Valuation
DIM Sartorius Stedim Biotech	€377.00	2.7% +€921.8m	14.3%	PE66.4x
SAN Sanofi	€90.94	0.4% +€401.7m	11.6%	PE18.5x
BOI Boiron	€39.00	8.9% +€56.1m	9.9%	PE38.7x
ALVMG Visiomed Group	€0.19	18.8% +€16.4m	-78.5%	PS48.6x
TNG Transgene	€2.60	3.4% +€8.3m	7.0%	PS28.2x

Jan 22

Bioinvent International AB & Transgene Joint JITC Publication Demonstrates the Potential of BT-001 Oncolytic Virus to Provide Therapeutic Benefit Beyond Current Anti-PD-1/ Anti-CTLA-4 Immune Checkpoint Blockade

BioInvent International AB and Transgene jointly announced the publication of extensive preclinical proof-of-concept data for BT-001 in the Journal for ImmunoTherapy of Cancer (JITC). This peer-reviewed article demonstrates that their co-developed clinical stage product, based on Transgene's patented oncolytic vector and encoding BioInvent's proprietary anti-CTLA-4 antibody, has the potential to provide greater therapeutic benefit than systemically administered anti-CTLA-4 antibodies. Systemically administered anti-CTLA-4 antibodies, such as the approved ipilimumab, have demonstrated substantial efficacy but also clinically limiting toxicity. The JITC paper provides in vivo evidence that vectorized anti-CTLA-4 antibodies delivered intratumorally (i.t.) can improve safety by reducing their systemic exposure. Efficacy may also be improved, with evidence from the immunocompetent murine model showing that vectorized anti-CTLA-4 antibodies have anti-tumoral activity even against `cold tumors' that are resistant to systemically-delivered checkpoint inhibitors. Furthermore, the precise targeting of the antibody to a unique functional epitope of CTLA-4 provides a higher level of regulatory T cells (Treg) depletion than ipilimumab. The safety-relevant data, published in JITC, show that a murine vector version of BT-001 delivered sustained levels of CTLA-4-receptor-saturating antibodies within tumors but low, sub-saturating exposure in blood and non-tumor tissue. These antibody levels were associated with high depletion of Tregs in the tumor but the absence of systemic Treg depletion, notably in the spleen. The study also provides several key insights into likely mechanisms underlying the efficacy of BT-001. Vectorized anti-CTLA-4: triggered both Fcy-receptor-dependent Treg depletion and antigen cross-presentation, mechanisms known to trigger and promote long-lasting, systemic, CD8+ T cell antitumor immunity. showed broad antitumor activity, including activity against murine `cold tumor' models which are resistant to systemic checkpoint inhibitors. Showed additive or synergistic anti-tumor activity when combined with anti-PD-1. The JITC paper is titled `Vectorized Treg-depleting anti-CTLA-4 elicits antigen cross-presentation and CD8+ T cell immunity to reject "cold" tumors' and can be accessed here. Recruitment in the ongoing Phase 1/2a clinical study of BT-001 (NCT04725331) in Europe is progressing steadily. The trial assesses BT-001 as a single agent and in combination with the PD-1 checkpoint inhibitor pembrolizumab against solid tumors. Initial Phase I data are expected in the first half of 2022.

Jan 19

Sanofi Announces Second Positive Phase 3 Dupixent® (Dupilumab) Trial Confirms Significant Improvements for Patients with Prurigo Nodularis

Sanofi announced a second Phase 3 trial evaluating Dupixent® (dupilumab) in adults with uncontrolled prurigo nodularis, a chronic type 2 inflammatory skin disease, met its primary and key secondary endpoints, showing it significantly reduced itch and skin lesions compared to placebo at 24 weeks in this investigational setting. The data confirm the positive results that were previously reported from the Phase 3 PRIME2 trial and will be submitted to regulatory authorities around the world starting in the first half of this year. The impact of prurigo nodularis on quality of life is one of the highest among inflammatory skin diseases due to the extreme itch. the Phase 3 PRIME trial, topline results comparing Dupixent (n=75) to placebo (n=76) showed at week 24: More than three times as many Dupixent patients experienced a clinically meaningful reduction in itch from baseline, the primary endpoint: 60% of Dupixent patients compared to 18% of placebo patients (p <0.0001). Nearly three times as many Dupixent patients achieved clear or almost clear skin, a secondary endpoint: 48% of Dupixent patients compared to 18% of placebo patients (p= 0.0004). Dupixent patients experienced significantly greater improvements in measures of overall health-related quality of life, skin pain, and symptoms of anxiety and depression. The safety results of the trial were consistent what was observed in PRIME2 and were also generally consistent with the known safety profile of Dupixent in its approved indications. For the 24-week treatment period, overall rates of treatment-emergent adverse events were 71% for Dupixent and 63% for placebo. Adverse events most commonly observed with Dupixent included nasopharyngitis (5% Dupixent, 4% placebo) and headache (5% Dupixent, 5% placebo). Additionally, 0% of Dupixent patients and 4% of placebo patients discontinued treatment due to adverse events prior to week 24. Consistent with published literature for the atopic dermatitis trials, numerically lower rates of skin infections were seen with Dupixent in this trial (4% Dupixent, 9% placebo).

French (CAC) Healthcare Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

ERF

Eurofins’ empowerDX Launches PFAS Exposure™ in the U.S, the First at-Home Blood Test to Detect and Measure 40+ PFAS Compounds

BOI

Boiron SA (ENXTPA:BOI) signed an agreement to acquire 70% stake in Abbi.

TNG

Bioinvent International AB & Transgene Joint JITC Publication Demonstrates the Potential of BT-001 Oncolytic Virus to Provide Therapeutic Benefit Beyond Current Anti-PD-1/ Anti-CTLA-4 Immune Checkpoint Blockade

VIRP

Virbac SA Provides Revenue Guidance for the Year 2022

VLA

Valneva SE Announces Results from an Initial Laboratory Study Demonstrating That Serum Antibodies Induced by Three Doses of Valneva’s Inactivated COVID-19 Vaccine Candidate, VLA2001

ALSEN

Price target decreased to €4.93

SAN

Sanofi Announces Second Positive Phase 3 Dupixent® (Dupilumab) Trial Confirms Significant Improvements for Patients with Prurigo Nodularis

ORP

Is It Too Late To Consider Buying Orpea SA (EPA:ORP)?

DIM

Investor sentiment deteriorated over the past week

BLC

Bastide Le Confort Médical SA (ENXTPA:BLC) acquired Distrimed.

IVA

Forecast to breakeven in 2024

KORI

Korian (EPA:KORI) Has A Somewhat Strained Balance Sheet

BIM

Why We Like The Returns At bioMérieux (EPA:BIM)

VETO

Calculating The Intrinsic Value Of Vetoquinol SA (EPA:VETO)

ALACT

Less than half of directors are independent

ALVMG

Visiomed Group SA has completed a Follow-on Equity Offering in the amount of €2 million.