Labelling vaccine hares and tortoises is premature 8 Jan 2021 The UK and Israel are rapidly inoculating against Covid-19, while France lags. Final success is likely to hinge on a disciplined rollout from a centralised hub to a receptive populace. Israel appears to have all three; investors may soon see that France, Britain and peers do not.
Corona Capital: Video rental stores, Conagra 7 Jan 2021 Concise views on the pandemic’s corporate and financial fallout: A last surviving U.S. video rental chain shutters, Conagra’s boosted sales aren’t enough for investors.
Walgreens $6.5 bln deal is a mutual back-scratch 6 Jan 2021 AmerisourceBergen is buying the drug chain’s European distribution business, in what amounts to a relatively attractive way to expand internationally. Walgreens gets a slug of cash – and CEO Stefano Pessina gets one step closer to one day potentially taking the company private.
Corona Capital: Commercial real estate, IBM 5 Jan 2021 Concise views on the pandemic’s corporate and financial fallout: Commercial office real estate is Zoom’s mirror image; IBM taps former Goldman-exec Gary Cohn.
Corona Capital: Icahn, Productivity, Natixis 4 Jan 2021 Concise views on the pandemic’s corporate and financial fallout: Carl Icahn sells half his Herbalife Nutrition stake; an ECB survey suggests Covid-19 will make big firms more productive, but that may not be all good news; and Natixis fast-tracks its overhaul.
Big Pharma’s vaccine immunity will be fleeting 18 Dec 2020 Groups like Pfizer and AstraZeneca are emerging as pandemic heroes. Their ability to rapidly test, make and distribute vital doses will help quiet the industry’s critics. However, universities and governments also played a big part. Pressure to slash drug prices will soon return.
Corona Capital: Filming drama, Spanish bank 16 Dec 2020 Concise views on the pandemic’s corporate and financial fallout: Actor Tom Cruise’s outburst about social distancing may not have been scripted, but it’s on point; Spanish bank Sabadell lines up a new leader.
EQT’s $2.8 bln pharma bet relies on sales booster 14 Dec 2020 The Swedish buyout firm is buying manufacturer Recipharm, which handles outsourced production for drug giants like Moderna. Given the target’s already heavy borrowings, delivering a decent return for EQT’s investors will depend on ramping up revenue growth.
AstraZeneca’s $39 bln deal is bold as well as big 12 Dec 2020 The UK drugmaker will buy U.S. biotech Alexion, which makes treatment for a rare immune disease. It’s growing and throws off cash. Yet competitive challenges and a wayward M&A strategy have depressed its stock. That’s an opportunity and a threat for AstraZeneca CEO Pascal Soriot.
Corona Capital: Vaccines 11 Dec 2020 Concise views on the pandemic’s corporate and financial fallout: U.S. regulators prep to rubber-stamp the approval of Pfizer and BioNTech’s Covid-19 vaccine. Meanwhile, AstraZeneca will partner with Russia and its Sputnik V jab in a possible combination that could ease jitters.
Vaccine bottlenecks are main obstacle to recovery 3 Dec 2020 Rolling out Covid-19 jabs, as the UK will do next week, protects the vulnerable and lets authorities ease restrictions. But the logistical challenge means it could take a year to immunise two-thirds of the population. Other governments, too, will struggle with a sceptical public.
Corona Capital: Merck sells Moderna stake 2 Dec 2020 Concise views on the pandemic’s corporate and financial fallout: The U.S. drugmaker is banking its winnings on an investment in Covid-19 vaccine producer Moderna that dates back to 2015.
China’s lengthening lowball list lures lawyers 1 Dec 2020 A bid to take $4.8 bln China Biologic private is the latest underpriced offer for a U.S.-listed Chinese firm. Cayman Islands’ dockets are filling up with shareholder complaints about similar deals. Miring transactions in lawsuits may force acquirers to pay more up front.
AstraZeneca’s messaging warrants a review, too 27 Nov 2020 The $134 bln drug giant may do a new trial of its Covid-19 vaccine to clear up uncertainties over its effectiveness. Even if rivals’ look better, AstraZeneca has a good story to tell. Still, a share price dip this week reflects that overegging results is not where you want to be.
Corona Capital: Tiffany, Biden, Vaccines, Cash box 24 Nov 2020 Concise views on the pandemic’s corporate and financial fallout: The cut-price jeweller issues less-than-sparkling results; the U.S. president-elect gets to start tackling the pandemic; Russia touts its discount vaccine; and UK firms gorge on shareholder-unfriendly equity issues.
Vaccine euphoria may be headed for a reality check 23 Nov 2020 AstraZeneca is the latest drugmaker to say its Covid-19 vaccine is effective. It’s good news and offers hope of a return to normal. But tricky logistics, supply constraints and a reluctant public could stall a mass rollout. Investors eyeing a quick recovery may be disappointed.
Corona Capital: U.S. airlines 20 Nov 2020 Concise views on the pandemic’s corporate and financial fallout: The CDC issued a warning to Americans not to travel over the upcoming Thanksgiving holiday as Covid-19 cases surge. Airlines, once again, are going hat-in-hand to Washington.
Viewsroom: Vaccines suggest light at tunnel’s end 19 Nov 2020 Moderna and Pfizer came out with encouraging news on the fight to immunize the world against Covid-19, giving hope the pandemic’s end is near. Meantime, China’s Sinovac finds its trials are undermined by a puzzling governance disaster. Breakingviews columnists weigh in globally.
Corona Capital: Dimon weighs in, Gen Z 18 Nov 2020 Concise views on the pandemic’s corporate and financial fallout: JPMorgan’s chief executive calls for U.S. politicians to “just split the baby” on stimulus; and Generation Z deals a new body blow to the idea that office life will emerge from the pandemic unscathed.
Moderna success is a win for poorer countries 16 Nov 2020 The U.S. pharma group has, like rival Pfizer, produced a highly effective Covid-19 vaccine. This raises the odds of others doing the same, and billions of doses being available next year. That will help hard-hit emerging economies gain access to such drugs more quickly in 2021.