3 Trending Healthcare Stocks To Add To Your Watch-List
Last week, some of the most notable earnings reports were released for the quarter. Although the markets have pulled back from highs seen earlier this year, positive earnings have helped to give a boost to certain sectors. Technology has been one of these sectors and more specifically, technology related to healthcare has captured fresh attention in the markets. This week investors have several prominent companies within the space reporting, including Amgen (AMGN), AbbVie (ABBV), GlaxoSmithKline (GSK) and Pfizer (PFE).
As the demand for healthcare products increases with an increasing aging population, the need for emerging technology and innovative drugs increases as well. Looking at a broader picture, year to date, the U.S. S&P Healthcare Index has generated gains of just under 6%, while the Canadian S&P/TSX Capped Health Care Index has gained 14.11%. As we continue to see steady growth in sector, here are three stocks which are focusing on building their business in the health related markets.
Premier Health Group, Inc. (PHGRF)(PHGI.CN)’s subsidiary, HealthVue is focused on developing proprietary technology to deliver quality healthcare through the combination of connected primary care clinics with telemedicine and artificial intelligence. The company currently has an ecosystem of over 100,000 active patients and according to Premier Health, it plans to rapidly increase that number both domestically and internationally.
According to HealthVue, Approximately 15% of Canadians aged 12 and older don’t have a primary care physician. Nearly two-thirds (59%) of seniors are unable to get a same-or next-day appointment. Almost 7 in 10 Canadians avoid seeing a doctor when they are sick. With new access to things like the telemedicine technology that HealthVue offers, the technology allows users to see virtual HealthVue doctor through the telemedicine app/website (Government funded in BC, therefore no additional cost to the patient). Furthermore, prescriptions for users can be electronically submitted to the pharmacy of their choice or delivered free to them by a preferred pharmacy partner.
Premier Health Group, Inc. (PHGRF)(PHGI.CN), announced last week that its common shares traded on the OTC Markets Group Inc.’s OTCQB Venture Market in the United States, under the symbol “PHGRF”, are now Depository Trust Company eligible. This was effective October 22, 2018 and allows Premier Health shares to be more easily and economically transferred between brokerage accounts electronically within the US.
Symbililty Solutions Inc. (SY.V) develops and markets software for employee benefits and property and casualty insurance markets, and develops mobile application software in Canada, the United States, and internationally. The company operates in three segments: Symbility Property, Symbility Health, and Symbility Strategic Services. CoreLogic (CLGX), a leading global provider of property information, insight, analytics and data-enabled solutions, recently announced entering into a definitive agreement to acquire the outstanding shares of Symbililty not already owned by CoreLogic. CoreLogic currently holds approximately a 28% ownership interest in Symbility.
“Symbility expands our footprint in property and casualty insurance domestically and in key markets around the globe. Further scaling our insurance and international footprint offers the potential for significant non-cyclical growth in line with our long-term goal of sourcing at least 50% of our revenues from non-U.S. mortgage. In addition to the obvious financial benefits and synergies, the combination of CoreLogic and Symbility should yield significant future growth opportunities through the introduction of new products, services and workflow tools which draw from a wide range of unmatched gold-standard data assets, platforms and analytical capabilities,” said Frank Martell, President and CEO of CoreLogic.
CASI Pharmaceuticals, Inc. (CASI) is a biopharmaceutical company focused on the acquisition, development, and commercialization of quality pharmaceuticals and innovative therapeutics addressing cancer and other unmet medical needs for the global market, with a focus on greater China and the U.S. The company’s product portfolio includes EVOMELA® for injection, MARQIBO®, and ZEVALIN®, all U.S. FDA approved drugs in-licensed from Spectrum Pharmaceuticals, Inc. for China regional rights that are currently in various stages in the regulatory and clinical process for market approval in China, ENMD-2076 in Phase 2, entecavir for hepatitis B and CASI-001 and CASI-002, proprietary immuno-oncology preclinical candidates.
CASI most recently announced the acquisition of U.S. FDA-approved abbreviated new drug application (ANDA) from Laurus Labs Limited. The drug, tenofovir disoproxil fumarate (TDF), is indicated for the treatment of hepatitis B virus.
Wei-Wu He, Ph.D., CASI’s Executive Chairman commented, “The acquisition of this ANDA from Laurus enhances our robust and emergent pipeline and is consistent with our broader mission to commercialize U.S. FDA approved drugs in China. The regulatory landscape in China is rapidly evolving to provide patients with quicker and more affordable access to high-quality medicines and we believe CASI is well positioned with infrastructure and leadership to launch products from our ANDA portfolio rapidly and efficiently.”
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