The drug is leaving the index this Monday as it failed to live up to expectations, leaving its place to Logista, a very traditional company reinvented in the Amazon era to compete.
PharmaMar and Logista are the two stocks that are starring this Monday in one of the latest moves in Spain this last time of the year. The drug leaves the index this Monday, although the company specializing in transport and logistics will continue to be constantly listed in the market as it leaps to the ‘premier league’ among listed companies. This latest dance will temporarily transform the Madrid Stock Exchange into Ibex 34, as there is still nothing to replace Siemens Gamesa, which left the stock market this week after its parent company Siemens Energy launched a takeover bid to merge both businesses into one. value.
Logista’s joy PharmaMar’s sad face. The pharmaceutical company remained among the most valuable listed companies in Spain for a little over two years after running for election in September 2020, replacing paper group Ence. “This was the date of an announced death,” says Darío García, using a literary analogy. In recent reviews of the Technical Advisory Committee, the index’s director planned to threaten the pharmaceutical company with expulsion from Ibex 35: “But it was already clear that PharmaMar had the most votes at the end of the year. Leave the selective one,” Garcia points out.
The company currently has a market capitalization of 1.2 billion euros., therefore, does not meet one of the main technical requirements, which must exceed 0.30 of the average market value of the index. Its value is about 65 Euros.
“The arguments of the pharmaceutical company itself did not convince investors and they prevented them from investing their money in this company,” says García, speaking of the new delay in drug Aplidín. This drug is promised to be an effective treatment against covid-19 for the elderly, but its trial will be delayed until the end of 2023. Willing to wait”, explains XTB analyst.
Added to this is the fact that the incidence of pandemics has dropped significantly thanks to vaccination. “The decline in hospital admissions has deprived the company of enough patients to run the experiments.” Dario Garcia points out.
At the request of the company Active, He declined to comment on his condition and his change to Ibex 35.. As a listed company, we do not comment on Technical Committee decisions, prices, values or trends. Even though we are not in the main selector, PharmaMar will always continue in the market”, draws attention to the sources from the pharmaceutical company.
Paradoxically, PharmaMar exits Ibex when it is just one of three pharmaceutical stocks that, along with Rovi and Grifols, managed to avoid stock market declines. Actually, Shares of the company are up nearly 20% this year. and when it received €9.5m from the giant Janssen for handing over the license of the cancer drug Yondelis in the United States. This drug is used in more than 70 countries for the treatment of soft tissue sarcoma and also for ovarian cancer in some of these countries.
The company made a profit of 48 million by September., despite the growth in turnover thanks to the rights of oncology products, it decreased by 16% compared to the same period of the previous year. Yondeli’s sales amounted to 52.2 million.
The end of the epidemic prompted the company to focus on the oncology business. One of its most recent commercial moves was the sale of diagnostic subsidiary Genómica, which was reported to the CNMV last September. This segment was profitable only at the height of the covid pandemic. He also decided to leave the chemical industry after the sale of Xylazel in 2018.
Traditional business adapted to new times
Logista is a company with a market capitalization of 3,132 million Euros and a turnover of approximately 153 million Euros. Established in 1999 for package delivery. “They have a very traditional job, but they have been able to adapt very well to changing times. They have very good facilities in Spain. North American distribution giant Amazon uses its warehouses to distribute its products,” says XTB analyst Darío García.
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In addition, the company has met one of the technical requirements assessed when incorporating a new security that exceeds 0.30% of the average capitalization of Ibex 35. Another strong point is that it will be the first company in its field to enter the Spanish elective list.. Their titles are now valued at 23 euros per unit and up to 43% of the year’s accumulated value. Looking ahead to the next fiscal year, Logista forecasts its semi-annual dividend to reach €0.95 per share for the first half of 2023, up 14.5%. plan.
Logista has been listed on the exchange since 2014, when it returned to the market five years after its trading floor. The company was listed on the Stock Exchange between 2000-2008 and When delisted, it had a value of approximately 2.3 billion euros.