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Bet on JNJ & Hold on to Apple to Grow Your Retirement Fund Stress-Free
ZACKS· 2025-08-08 15:21
Core Insights - A well-balanced retirement portfolio should include a mix of defensive and growth stocks, exemplified by investments in Johnson & Johnson (JNJ) for stability and Apple Inc. (AAPL) for growth potential [1] Johnson & Johnson (JNJ) - JNJ is a reliable investment due to its position as a leading provider of essential healthcare products, demonstrating resilience with a 4.6% increase in operational sales in Q2 2025 despite losing exclusivity for its drug STELARA [2][9] - The company's diversified business model includes important medicines and life-saving medical devices, reducing dependency on any single product and enhancing stability [3] - JNJ's strong balance sheet features $19 billion in cash and marketable securities, with a debt-to-capitalization ratio of 39.3%, allowing it to navigate unfavorable business conditions effectively [4] - The company generated substantial free cash flow of $6 billion in Q2 2025, which is strategically allocated towards mergers and acquisitions, as well as returning capital to shareholders through dividends and share repurchases [5][9] - JNJ is currently trading at a trailing 12-month P/E of 17.15x, below the industry average of 22.26x, indicating it may be undervalued and presenting an attractive entry point for investors [12] Apple Inc. (AAPL) - AAPL is not just a seller of devices but is creating a connected ecosystem that fosters customer loyalty [7] - In fiscal Q3 2025, AAPL's sales increased by 13% due to new iPhone releases, with Mac sales rising 15% and record revenue from its Services segment [8][9] - The number of Apple devices in use worldwide has reached a new record, indicating strong brand loyalty and customer retention [10] - AAPL has significant growth opportunities through innovation, including advancements in artificial intelligence, new products like the Vision Pro headset, and expansion into emerging markets such as India and the Middle East [11] - AAPL is currently trading at a trailing P/E of 30.31x, which is higher than the industry average of 28.38x, suggesting that the stock is relatively expensive at current levels [13]
Genmab Announces Financial Results for the First Half of 2025
Globenewswire· 2025-08-07 15:08
Core Insights - Genmab has made significant progress in its strategic priorities, focusing on expanding access to innovative therapies and maximizing the potential of its commercialized medicines [2] - The company has updated its revenue and operating profit guidance for 2025, driven by increased royalty revenues from DARZALEX [4] Financial Performance - Revenue for the first half of 2025 reached $1,640 million, a 19% increase from $1,382 million in the same period of 2024, primarily due to higher royalties from DARZALEX and Kesimpta, as well as increased EPKINLY net product sales [6][7] - Royalty revenue was $1,378 million in the first half of 2025, up 24% from $1,111 million in the first half of 2024, attributed to higher net sales of DARZALEX and Kesimpta [7] - Operating profit for the first half of 2025 was $548 million, compared to $352 million in the first half of 2024 [7] 2025 Full Year Outlook - Revised revenue guidance for 2025 is set between $3,500 million and $3,700 million, with a midpoint of $3,600 million, an increase from the previous guidance of $3,340 million to $3,660 million [5] - Royalties are expected to be between $2,945 million and $3,090 million, with a midpoint of $3,017 million, up from the previous guidance of $2,785 million to $3,015 million [5] - Net product sales/collaboration revenue is projected to be between $425 million and $465 million, with a midpoint of $445 million [5] Pipeline Developments - Epcoritamab is advancing to earlier lines of therapy with a supplemental Biologics License Application (sBLA) submitted to the FDA for use in patients with relapsed or refractory follicular lymphoma [6] - Rina-S continues to show promising antitumor activity in endometrial cancer, with data presented at the 2025 ASCO Annual Meeting [6] Other Matters - Genmab has changed its functional currency and presentation currency from DKK to USD effective January 1, 2025, with retrospective adjustments made to prior periods [9]
Halozyme(HALO) - 2025 Q2 - Earnings Call Transcript
2025-08-05 21:30
Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $326 million, representing a 41% increase year-over-year [5][35] - Royalty revenue grew 65% year-over-year to $206 million, driven by strong performance from established therapies [6][37] - Adjusted EBITDA increased 65% to $226 million compared to $137 million in the prior year [6][39] - Full-year revenue guidance for 2025 was raised to $1.275 billion to $1.355 billion, reflecting 26% to 33% growth over 2024 [6][41] Business Line Data and Key Metrics Changes - The three established blockbuster therapies driving growth are Darzalex subcutaneous, FSGO, and Vyvgart Hytrulo [5][10] - Darzalex revenue increased almost 22% to $3.5 billion in Q2 2025, with a 96% conversion rate to subcutaneous delivery in the U.S. [12][13] - FSGO revenue for the first half of 2025 was approximately $1.5 billion, reflecting a 55% year-over-year growth [16] - Vyvgart Hytrulo sales increased 97% year-over-year to $949 million in Q2 2025 [18] Market Data and Key Metrics Changes - The U.S. market for Darzalex subcutaneous is projected to continue strong growth due to increased penetration in frontline settings [12][13] - The total addressable market for generalized myasthenia gravis in the U.S. is now estimated at 60,000 patients, significantly higher than initial estimates [19] - Analysts project total brand sales for Ocrevus to reach $10 billion by 2028, with Halozyme earning royalties on the subcutaneous formulation [24] Company Strategy and Development Direction - The company is focusing on identifying new drug delivery platforms that can generate long-term revenue streams through royalties [7] - There is an emphasis on expanding the use of subcutaneous delivery systems to improve patient access and convenience [10][19] - The company is actively pursuing M&A opportunities while maintaining a disciplined approach to leverage [7][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the durability of revenue streams and the potential for continued growth driven by multiple catalysts [43] - The company is optimistic about the regulatory environment and believes it will prevail in ongoing litigation with Merck [52] - Management highlighted the importance of the IRA and ongoing discussions with CMS regarding the impact on their products [55] Other Important Information - The company completed a $250 million share repurchase in Q2 2025 and initiated a third tranche under a $750 million plan [7][36] - The company maintains a strong balance sheet with cash and marketable securities of $548.2 million as of June 30, 2025 [40] Q&A Session Summary Question: Status of IP litigation with Merck - The company is suing Merck for infringing 15 of its patents and expects to receive a scheduling order from the court in the coming months [46][48] Question: Confidence in regulatory front - Management is confident that there will be no impactful changes from CMS regarding the IRA and has submitted arguments to support this [55][56] Question: Guidance setting process - The company uses trends and inputs from partners to set guidance, with a focus on the latest data points [58][59] Question: Interest in high-volume auto injectors - There is strong interest from multiple companies in the high-volume auto injectors, with ongoing discussions at various stages [69][70] Question: Long-term guidance updates - The company updates long-term guidance annually, with more information expected at the start of the next year [66]
Johnson & Johnson Tops Q2 Estimates
The Motley Fool· 2025-07-16 18:10
Core Insights - Johnson & Johnson reported Q2 2025 earnings that exceeded analysts' expectations for both adjusted earnings and revenue, with revenue at $23.7 billion and adjusted EPS at $2.77 [1][2][6] - The company experienced strong sales momentum and progress in innovation, but underlying profit growth faced challenges due to patent expiries and higher costs [2][5] Financial Performance - Adjusted EPS for Q2 2025 was $2.77, slightly down 1.8% from $2.82 in Q2 2024, while revenue increased by 5.8% year-over-year [3][6] - GAAP EPS rose 18.7% to $2.29, and net earnings reached $5.54 billion, up 18.2% from the previous year [3][6] - Free cash flow decreased to $6.2 billion, down 17.4% from $7.51 billion a year ago [3][12] Business Segments - U.S. sales increased by 7.8% year-over-year, while international revenue grew by 3.2%, indicating stronger domestic performance [7] - In the Innovative Medicine division, sales rose 4.9%, driven by oncology and immunology products, despite a decline in STELARA impacting overall revenue [8] - MedTech sales increased by 7.3% to $8.54 billion, with significant contributions from cardiovascular products and new product launches [9][10] Regulatory and Pipeline Developments - The company achieved several regulatory milestones, including FDA approval for IMAAVY and positive EU opinions for oncology assets [11] - New clinical data supported the expansion of both immunology and oncology franchises, indicating a robust pipeline [11] Future Outlook - Management raised its full-year 2025 sales guidance to a midpoint of $93.4 billion, reflecting a 5.4% increase from the prior year [14] - Adjusted operational EPS target was also increased to a midpoint of $10.68, representing 7% year-on-year growth [14] - The company faces ongoing challenges from tariffs and competitive dynamics, particularly in orthopedics, which require close monitoring [15]
J&J(JNJ) - 2025 Q2 - Earnings Call Transcript
2025-07-16 13:30
Financial Data and Key Metrics Changes - In Q2 2025, worldwide sales reached $23.7 billion, reflecting a 4.6% increase despite a headwind from Stellara [23][24] - Net earnings for the quarter were $5.5 billion, with diluted earnings per share of $2.29, compared to $1.93 a year ago [24] - Adjusted net earnings were $6.7 billion, with adjusted diluted earnings per share of $2.77, representing a decrease of 2.1% year-over-year [25][32] Business Line Data and Key Metrics Changes - Innovative Medicine reported worldwide sales of $15.2 billion, increasing by 3.8% despite an 11.7% headwind from Stellara [25][26] - MedTech achieved worldwide sales of $8.5 billion, growing by 6.1%, with strong performance in cardiovascular, surgery, and vision [29][30] - In oncology, DARZALEX grew by 21.5%, while CARVICTI saw over 100% growth [26][27] - Tremfya in immunology grew by 30.1%, while Stellara declined by 43.2% due to biosimilar competition [28] Market Data and Key Metrics Changes - U.S. sales growth was 7.6%, while international sales saw a decline of 1.6% due to Stellara biosimilars and COVID-19 vaccine impacts [25][26] - Cardiovascular segment delivered over 22% operational sales growth, driven by new product performance [17][29] - Surgical vision grew by 8.9%, supported by strong performance in contact lenses and intraocular lenses [21][30] Company Strategy and Development Direction - The company aims to become the number one oncology company by 2030, targeting over $50 billion in sales [10][11] - Focus areas for growth include oncology, immunology, neuroscience, cardiovascular, surgery, and vision, with a commitment to innovation [8][12] - The company plans to launch several new products and expand its pipeline, including TAR200 for bladder cancer and icotrokinra for psoriasis [47][48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving and potentially exceeding growth targets for 2025, driven by strong performance in both Innovative Medicine and MedTech [36][39] - The company anticipates an acceleration in operational sales growth in the second half of the year, supported by new product launches and market share gains [40][46] - Management highlighted the importance of navigating external challenges, including tariffs and competition, while maintaining a focus on innovation and market leadership [88] Other Important Information - The company ended Q2 with $19 billion in cash and marketable securities and $51 billion in debt, resulting in a net debt position of $32 billion [38] - The effective tax rate for the quarter was 14.7%, down from 18.5% in the previous year [33] - The company is committed to investing $55 billion in the U.S. over the next four years, driven by favorable tax policies [39] Q&A Session Summary Question: Drivers of upside to guidance for the year - Management indicated that both Innovative Medicine and MedTech contributed to strong performance, with notable growth in oncology and cardiovascular segments [52][53] Question: Oncology target of $50 billion by the end of the decade - Management expressed confidence in achieving this target, citing strong growth in multiple myeloma and the potential of TAR200 for bladder cancer [68][71] Question: Guidance for operational growth and operating margin improvement - Management expects 2026 to show better growth rates than 2025, with ongoing efforts to improve operating margins [81][83] Question: Impact of pharma tariffs and manufacturing capacity - Management acknowledged uncertainty regarding tariffs but emphasized ongoing investments in U.S. manufacturing and job creation [88]
J&J(JNJ) - 2025 Q2 - Earnings Call Transcript
2025-07-16 13:30
Financial Data and Key Metrics Changes - In Q2 2025, worldwide sales reached $23.7 billion, reflecting a 4.6% increase despite a headwind from Stellara [24][25] - Net earnings for the quarter were $5.5 billion, with diluted earnings per share of $2.29, up from $1.93 a year ago [25][26] - Adjusted net earnings were $6.7 billion, with adjusted diluted earnings per share of $2.77, representing a decrease of 2.1% [26][34] Business Line Data and Key Metrics Changes - Innovative Medicine reported worldwide sales of $15.2 billion, increasing by 3.8% despite a headwind from Stellara [26][27] - MedTech achieved worldwide sales of $8.5 billion, reflecting a 6.1% increase, driven by strong performance in cardiovascular, surgery, and vision [30][31] - In oncology, DARZALEX grew by 21.5%, while CARVICTI saw over 100% growth [27][28] Market Data and Key Metrics Changes - U.S. sales growth was 7.6%, while international sales experienced a decline of 1.6% due to Stellara biosimilars and COVID-19 vaccine impacts [26][27] - The cardiovascular segment in MedTech delivered over 22% operational sales growth, driven by new product performance [18][30] Company Strategy and Development Direction - The company aims to become the number one oncology company by 2030, targeting over $50 billion in sales [11][72] - Focus areas include oncology, immunology, neuroscience, cardiovascular, surgery, and vision, with a commitment to innovation and addressing unmet medical needs [10][21] - The company plans to launch several new products and therapies in the second half of 2025, including TAR200 for bladder cancer and subcutaneous Ribrovant for lung cancer [49][50] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving and potentially exceeding growth targets for 2025, driven by strong performance in both Innovative Medicine and MedTech [39][42] - The company anticipates an acceleration in operational sales growth in the second half of the year, supported by new product launches and market share gains [42][60] - Management highlighted the importance of navigating external challenges while maintaining financial commitments and delivering shareholder value [51][52] Other Important Information - The company raised its full-year sales guidance by $2 billion and EPS guidance by $0.25, reflecting strong Q2 performance [9][42] - The effective tax rate for the quarter was 14.7%, down from 18.5% in the previous year [35][36] - The company ended Q2 with $19 billion in cash and marketable securities and $51 billion in debt, resulting in a net debt position of $32 billion [40] Q&A Session Summary Question: Drivers of upside to guidance for the year - Management indicated that both Innovative Medicine and MedTech contributed to strong performance, with notable growth in brands like DARZALEX and CARVICTI [54][55] Question: Oncology target of $50 billion by the end of the decade - Management expressed confidence in achieving the target, citing strong growth in multiple myeloma and the potential of TAR200 for bladder cancer [70][72] Question: Guidance for top-line growth acceleration - Management expects 2026 to show better growth rates than 2025, driven by new product introductions and market dynamics [84][86]
J&J(JNJ) - 2025 Q2 - Earnings Call Presentation
2025-07-16 12:30
Q2 2025 Financial Performance - Worldwide sales reached $23.7 billion, a 5.8% increase compared to Q2 2024, with operational sales growth of 4.6%[47] - U S sales increased by 7.8% to $13.5 billion in Q2 2025 from $12.6 billion in Q2 2024[47] - Adjusted earnings were $6.7 billion, and adjusted EPS was $2.77[49] - GAAP net earnings increased to $5.5 billion, a rise of 18.2%[49] Innovative Medicine - Innovative Medicine sales reached $15.202 billion, with operational growth of 3.8%[51] - Oncology sales grew by 22.3% operationally, reaching $6.312 billion[51] - Immunology sales declined by 16% operationally, totaling $3.993 billion, impacted by STELARA biosimilar competition[51] MedTech - MedTech sales were $8.541 billion, with operational growth of 6.1%[53] - Cardiovascular sales increased by 22.3% operationally, reaching $2.313 billion[53] - Orthopaedics sales decreased by 1.6% operationally, totaling $2.305 billion[53] Guidance - The company increased its operational sales guidance for 2025 to 4.8% and adjusted operational EPS guidance to 7.0% (midpoints)[62] - Operational sales are projected to be between $92.7 billion and $93.1 billion[62]
Johnson & Johnson (JNJ) FY Conference Transcript
2025-06-11 20:20
Summary of Conference Call Company and Industry Overview - The conference call primarily discusses the pharmaceutical industry, focusing on a specific company involved in innovative medicines, particularly in immunology, oncology, and neuroscience. Key Points and Arguments Innovative Medicines Strategy - The company aims for a growth trajectory of 5% to 7% by 2025, targeting $57 billion in revenue by that year [3][4] - The strategy is built on three pillars: immunology, oncology, and neuroscience, with significant growth expected in oncology products like DARZALEX and ERLEADA [3][4] Oncology Developments - The company has identified substantial growth opportunities in oncology, particularly with the new product Riborvant, projected to be a $5 billion asset [4][6] - Riborvant shows a significant overall survival advantage over osimertinib, with at least a one-year survival benefit [4][6] - The company reported a 4.2% operational growth in Q1, with underlying operational growth of approximately 12% when excluding the impact of loss of exclusivity (LOE) for Stelara [6][7] Immunology Insights - Stelara peaked at $11 billion in sales, but the company anticipates that TREMFYA will displace Stelara due to its superior efficacy in treating conditions like ulcerative colitis [10][12] - TREMFYA has captured about 50% of the new market share in ulcerative colitis within six months of launch [13][15] Multiple Myeloma and DARZALEX - DARZALEX has shown a year-over-year growth of approximately 24% and is expected to continue growing, especially with new indications being pursued [34][36] - The company believes that negotiations under the Inflation Reduction Act (IRA) will not impact DARZALEX until 2034 due to its innovative formulation [32][34] Bladder Cancer Opportunity - The company is focusing on bladder cancer, with two products under review: TAR-two hundred and TAR-two ten, targeting high unmet medical needs [45][46] - TAR-two hundred has shown an 82% complete response rate in trials, indicating significant potential in the market [47][49] Neuroscience Developments - SPRAVATO is positioned as a blockbuster product for treatment-resistant depression, with expectations of reaching $1 billion to $5 billion in sales [78][82] - The acquisition of Intracellular is expected to enhance the company's portfolio in neuropsychiatry, particularly with products like CAPLYTA [81][84] Future Growth and Pipeline - The company is exploring further business development opportunities in autoimmune diseases and oncology, aiming to achieve $50 billion in oncology alone [89][90] - The pipeline includes promising products in various stages of development, indicating a robust future growth trajectory [86][88] Other Important Insights - The company has invested heavily in patient fulfillment services, enhancing the patient experience and potentially increasing market share [18][19] - The competitive landscape in oncology and immunology is evolving, with the company confident in its innovative products and market positioning [51][52] This summary encapsulates the key discussions and insights from the conference call, highlighting the company's strategic focus, growth opportunities, and competitive advantages in the pharmaceutical industry.
J&J(JNJ) - 2025 FY - Earnings Call Transcript
2025-05-28 14:00
Financial Data and Key Metrics Changes - The overall growth in the first quarter was 4.1%, with the pharmaceutical group growing by 4.2% and the med tech group by 4% [10] - The company has delivered consistent results, meeting or exceeding analyst expectations in earnings for 28 consecutive quarters over the past seven years [9] - The company has committed to a growth target of 5% to 7% from 2025 to 2030, with confidence in achieving this based on current results [11] Business Line Data and Key Metrics Changes - The pharmaceutical group showed a growth of 4.2% despite facing headwinds from biosimilars for its major product, Stellara [10] - The med tech group also reported a growth of 4%, indicating stability across both segments [10] - The company has invested $50 billion in M&A and R&D over the last two years, with an additional $55 billion planned for R&D manufacturing and technology in the U.S. over the next four years [11] Market Data and Key Metrics Changes - The company is optimistic about the biopharmaceutical and medical technology industries, citing significant medical innovation opportunities [5][22] - The U.S. market is seen as a key area for growth, with the administration's support for American businesses and manufacturing jobs [6] Company Strategy and Development Direction - Johnson & Johnson emphasizes its unique position as a healthcare company that spans the entire patient journey, with unmatched breadth in capabilities [7] - The company is focused on maintaining leadership in cardiac ablation and investing in new technologies to enhance its med tech offerings [56] - The strategy includes moving into higher growth markets, particularly in cardiovascular and robotics [85] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the industry despite macro uncertainties, highlighting a combination of headwinds and tailwinds [5][22] - The company is actively engaging with the administration to ensure continued innovation while making medicines affordable [23] - Management believes there are significant disconnects between market expectations and the company's potential, particularly in new product launches [12][14] Other Important Information - The company has a strong track record of dividend increases for 63 consecutive years, reflecting its financial stability [9] - The company is committed to improving gross margins and has various efficiency programs in place [51][54] Q&A Session Summary Question: How does the company view the current macro environment and its impact? - Management expressed optimism about the biopharmaceutical and medical technology industries, noting the potential for innovation despite uncertainties [22] Question: What is the company's strategy regarding drug pricing reforms? - Management highlighted the need for dialogue with the administration to balance innovation and affordability in medicines [24][30] Question: Can you provide an update on the talc litigation? - The company is back in the tort system and is confident in its position, having won 16 out of 17 cases related to ovarian cancer [37][38] Question: What are the expectations for financial performance in 2025? - The company is guiding for organic sales growth of 2% to 3% and EPS growth of 5% to 7%, with optimism about pharmaceutical product performance [43] Question: How does the company plan to address competitive pressures in the med tech space? - Management emphasized a commitment to innovation in cardiac ablation and plans to enhance its product offerings in electrophysiology [56][65]
Halozyme Therapeutics (HALO) 2025 Conference Transcript
2025-05-14 00:20
Summary of Halozyme Therapeutics (HALO) 2025 Conference Call Company Overview - **Company**: Halozyme Therapeutics (HALO) - **Date of Conference**: May 13, 2025 - **Key Speaker**: Helen Torley, President and CEO Core Industry Insights - **Industry**: Biotechnology and Specialty Pharmaceuticals - **Focus**: Drug delivery technologies, particularly subcutaneous (subcu) delivery systems Key Points and Arguments Financial Performance and Growth - Halozyme reported strong first-quarter performance driven by three blockbuster products: DARZALEX, subcutaneous FEZZO, and VIBEKAR HYTRUL, with expectations for continued growth for many years [2][5] - Revenue guidance for the year was increased to $1.2 billion to $1.28 billion, with EBITDA projected between $790 million and $840 million, reflecting a 75% increase in free cash flow [5][6] Product Pipeline and Launches - Four new products have recently launched, including Tecentriq subcutaneous, Ocrevus subcutaneous, Opdivo, and Amivantamab subcutaneous, which are expected to significantly contribute to revenue starting in 2026 as reimbursement processes are completed [3][4] - There are 11 growth catalysts anticipated, including new indications and regions, as well as important reimbursement milestones [4] Mergers and Acquisitions Strategy - The company is considering mergers and acquisitions (M&A) to enhance its drug delivery platforms and create long-term revenue streams [2][6] - Halozyme has historically signed approximately one deal per year, often involving multiple targets, which contributes to a robust ongoing pipeline [18][19] Intellectual Property and Legal Matters - Halozyme's composition of matter patent is set to expire in 2029, but the company has applied for a new patent that could extend royalty rates for DARZALEX and Amivantamab until 2029 [41][42] - Ongoing litigation with Merck regarding KEYTRUDA involves claims of patent infringement related to modified hyaluronidases, with potential for significant royalty income if successful [45][46] Clinical Benefits and Market Position - Halozyme's ENHANZE technology is recognized as the gold standard for rapid large volume subcutaneous delivery, with 10 products approved and over 1 million patients treated [10] - The subcutaneous delivery of drugs like DARZALEX significantly reduces administration time from four to six hours (IV) to three to five minutes (subcu), enhancing patient experience and reducing infusion-related reactions [23][25] Future Trends and Market Dynamics - The shift towards subcutaneous delivery is expected to continue, particularly for oncology therapies, as it allows for more convenient patient administration and reduces the burden on healthcare facilities [57][61] - The company anticipates that the increasing demand for non-IV therapies will drive growth, especially in the context of infusion capacity constraints in healthcare settings [62] Capital Allocation and Share Repurchase - Halozyme has returned $1.55 billion to shareholders since 2019 and announced an additional $250 million share repurchase program, indicating a strong position for capital deployment [6][36] Regulatory Environment - Recent updates to the IRA guidance are seen as favorable for Halozyme, particularly regarding the treatment of fixed combination drugs in price negotiations [21][22] Additional Important Insights - The company is actively engaging with Congress and Senate members to ensure the clinical benefits of their subcutaneous delivery systems are recognized in regulatory discussions [32][33] - The potential for new co-formulation patents is high, with ongoing efforts to innovate in the area of drug delivery technologies [55] This summary encapsulates the key insights and strategic directions discussed during the Halozyme Therapeutics conference call, highlighting the company's growth trajectory, product pipeline, and market positioning within the biotechnology sector.