Indegene share price tanks 12% after bumper debut. Buy, sell of hold?
Current state of the stock market: The price of Indigene shares listed at a hefty premium on the BSE and NSE, notwithstanding weakening across Dalal Street sectors. The price of one Indigene share is ₹659.70 on the BSE, while the share is listed at ₹655 on the NSE. Profit-booking, which occurred shortly after the share launch, caused the stock to drop sharply against the listing price, with the NSE and BSE seeing intraday lows of ₹527.10 and ₹527.80, respectively. As a result, the stock was unable to maintain the greater premium. Nonetheless, there was a little recovery and reduction in losses for the recently listed shares. As of right now, the NSE is quoting Indegene shares at ₹600 each, which is around 9% less than the listing price.
Speaking on the Indegene share price listing, Mehta Equities’ AVP of Research, Prashanth Tapse, stated: “Taking into account the robust demand for subscriptions and a healthy listing gain in line with our expectations, in comparison to the issue price of ₣452 per share.” The company’s near-monopoly in services specifically designed for the life sciences sector, along with its in-depth knowledge of pharmaceutical marketing, clinical trials, pharmacovigilance, medical and regulatory affairs, and health informatics, which benefits its clientele along the entire value chain, are the reasons we think the healthy listing is warranted.”
Buy sell, or hold?
The professional guidance from Mehta Equities is evident for the Indegene share allottees upon listing. “Post-listing, we see the valuations are getting stretched and considering market selloff mood and other parameters, we are recommending conservative investors to book profits, while risk-taking investors can continue holding for long term.” This advice is essential for making wise investing choices. A smart go-to-market approach is anticipated to propel Indegene’s operational performance forward. It is recommended that investors who have been allotted shares hold them for medium- to long-term gains due to their solid financial track record and fair value.
Reassuring investors about Indegene Limited’s distinct position in the market is Pace 360’s Chief Global Strategist and Co-Founder Amit Goel. “With a virtual monopoly generating over 98% of its global income, Indigene Limited dominates the Life Science Industry as a unique leader in digital-led commercialization services. Investors could think about setting aside money for medium- to long-term gains given the positive outlook following profit-booking. The business’s prospects for the future should be encouraged by this exceptional position.
After a huge launch, the share price of Indigene plummets 12%. Purchase, sell, or hang onto?
Even though D-Street’s divisions saw decline, Indegene’s share price listed at a huge premium on the BSE and NSE. The price of one Indigene share is ₹659.70 on the BSE, while the share is listed at ₹655 on the NSE. It could not hold, though, as profit-booking snapped shortly after the share launch, sending it down to an intraday low of ₹527.80 on the BSE and ₹527.10 on the NSE.
Despite worries about the global market, domestic indexes rose, led by large-cap companies. Analysts predict consolidation with 23,700–23,900 as support. While the IT, oil, and FMCG sectors are propelling the index upward, banking stocks are consolidating. The forthcoming union budget recommendations will be the main emphasis, and there aren’t any significant threats at this time.
Thirty-three-year-old Ujjwal Das is a dentist who works for the government as an associate professor at a state government dental college in Kolkata. Additionally earning a second income, his spouse is a dentist and occupies a comparable role in another government dental college. Their son, 13, receives funding for his education from their combined income.
With an emphasis on women pensioners and bank-related concerns, Union Minister Jitendra Singh will initiate a special campaign to settle 1,891 unresolved family pension grievances from 46 ministries/departments, primarily from retirees in the defense, railroad, and CAPF. With participating ministries and banks striving to resolve, the campaign, which runs from July 1–31, 2024, intends to significantly reduce pendency.
The airline has been accused of unfair labor practices by the Air India Express Employees Union, which includes charging union members and opening investigations against them. Citing strained workplace relations and infractions of labour laws, the union has requested the labor commissioner’s assistance to address problems. The conflict began when 200 members of the cabin staff went on strike on May 7.
The 43-year-old dentist Ujjwal Das makes two salaries: one as an associate professor at the state government’s dentistry institution in Kolkata, and the other as an employee of the government. His spouse, a dentist, has a comparable job at another government dental college, which allows her to earn extra money. The schooling of their 13-year-old kid is funded by the couple’s joint income.
Indegene makes strong market debut; lists 46% premium over issue price
Indegene created a big splash on the stock market when its shares became public on Monday at a price of Rs 659.70, which was 46% higher than the share price it was originally offered for on the BSE. Healthcare Research and Analytics, a technology and research business, began at Rs 655 on the National Stock Exchange (NSE), 45 percent over its issue price.
With a 28% premium over its IPO price, Indgene was selling at Rs 579.90 at 10:01 am. From the time of its BSE listing, it has dropped by 12%. At Rs 575, the stock hit an intraday low. On the NSE and BSE, 6.9 million equity shares were exchanged. By contrast, the Nifty 50 and S&P BSE Sensex saw declines of almost 1% apiece.
The IPO was subscribed 70.30 times, indicating a positive reaction to the issue. Indegene received 7.86 times more bids for their IPO in the retail sector than shares that were offered. Subscriptions were made 192.72 times for the qualified institutional buyers (QIB) segment and 55.91 times for the non-institutional investors (NII) category. Indegene is a digital commercialization company that leads technology and serves the life sciences sector, which includes biopharmaceutical, developing biotech, and medical device firms.
Indegene provides consulting services, omnichannel activation, corporate commercial solutions, medical solutions, and clinical solutions. As of 9MFY24, Ingene has 65 clients for whom it provided services. The business uses a unique platform that it built internally that is based on artificial intelligence (AI) and machine learning (ML) and enables it to provide solutions to clients worldwide.
Operating on a distinct business strategy, the company has strategic client relationships with 17 of the top 20 worldwide biopharmaceutical companies in FY23. In an IPO letter, SBI Securities stated that the business demonstrated a robust PAT CAGR of 12.7% between FY21 and FY23 and anticipates being net debt free after the offering. Mehta Equities’ analyst thinks that investing in Indegene offers a rare chance to support a market leader in digitally guided commercialization services specifically suited for the life sciences sector.
The brokerage company emphasized Indegene’s profound domain knowledge in the life sciences combined with cutting-edge technological solutions, which optimize sales, activate omnichannel, expedite patient recruitment, and streamline regulatory filings, helping businesses all along the commercialization chain.
The company’s investment in proprietary tools and platforms, such the “NEXT” suite, according to analysts, further demonstrates its dedication to promoting change across the commercialization lifecycle. The brokerage business agreed that Indegene is well-positioned to offer customized, enterprise-wide solutions over multi-year periods, providing considerable value and impact to their clients. Indegene operates through two efficient delivery methods.
Indegene acquires Trilogy, expands medical writing expertise
Our services support the development, launch, and life cycle expansion of products by biopharmaceutical, emerging biotech, and medical device firms in a more contemporary, efficient, and successful manner. Our solutions are multifaceted and stem from our combination of healthcare domain expertise, purpose-built technology, and a nimble operating approach. Among other things, these are meant to provide patients and doctors with an omnichannel, scalable, and customized experience. Making healthcare companies future-ready is what motivates our team and our mission.
Indegene Hosts Inaugural Presidium of the Strategic Advisory Board: Renowned Global Biopharma Leader Jill DeSimone
April 02, 2024, Princeton, New Jersey: Recently, in New Jersey, Indegene, a digital-first life sciences commercialization business, had its inaugural Strategic Advisory Board (SAB) meeting. Jill DeSimone, a renowned biopharma executive with over 40 years of worldwide experience, led the discussion. She was the President of US Oncology at Merck and has previously worked with major players in the sector including Teva and Bristol Myers Squibb.
Through the infusion of outside knowledge, perspective, and thought leadership, the SAB led by Jill seeks to accelerate Indegene’s market and customer growth. This will drive the next stage of development for Indegene and offer proactive direction for strategic planning. As members of top pharmaceutical and biotech companies’ clinical, medical, and C-suite departments, SAB will concentrate on providing insights and viewpoints on changes in the industry expected to occur in the next five to seven years and how these changes will affect Indegene’s strategic direction.
“The Strategic Advisory Board is a crucial component of Indegene’s success, demonstrating our dedication to expansion and creativity,” stated Gaurav Kapoor, Executive Vice President of Indegene. In order to stay ahead of the curve in utilizing cutting-edge technology to improve patient care and boost operational effectiveness, this board is crucial in helping us hone our strategies for success in the quickly changing life sciences industry.
Concerning Indigenous
Indegene is a bio sciences commercialization firm that prioritizes digital platforms. It enables more contemporary, effective, and efficient product development, market entry, and life cycle impact growth for biopharmaceutical, emerging biotech, and medical device firms. Indegene provides a wide range of solutions by combining an agile operating strategy, fit-for-purpose technology, and domain experience in the healthcare industry. These seek to provide patients and doctors with an omnichannel, customized, scalable experience, among other things. It is the driving force behind Indegene’s team’s mission to equip healthcare companies for the future.
Trilogy Writing & Consulting GmbH, a medical writing consultancy, is acquired by Indigene.
27 March 2024, Princeton, USA, and Frankfurt, Germany: A global supplier of specialized medical writing services to life sciences firms spanning clinical, regulatory, safety, and medical content, Indegene is a digital-first life sciences commercialization company. Today, the company announced the acquisition of Trilogy Writing & Consulting GmbH (Trilogy). The purchase broadens Indegene’s clinical and regulatory writing experience for market authorization applications worldwide, as provided by Indegene Ireland, a subsidiary of Indegene Limited.
With expertise in the creation and delivery of clinical, regulatory, safety, and medical content, Trilogy Writing & Consulting is a medical writing consultant with offices in Germany, the UK, and the US. It produces high-quality medical writing by putting its knowledge and original ideas to use. Trilogy has over 22 years of experience in the biopharmaceutical and medical device industries, with a strong portfolio of clients in the fields of oncology, immunology, neurosciences, urology, anti-infectives, endocrinology, respiratory diseases, and many other therapeutic areas. With a commitment to strategic medical writing, Trilogy guarantees its clients’ success when submitting to a wide range of health authorities, such as the US FDA, EU EMA, Health Canada, UK MHRA, China NMPA, Japan PMDA, and several more.
Grand View Research1 projects that the medical writing industry would reach $8.4 billion by 2030, growing at a compound annual growth rate of 10.46% from its $4.2 billion market in 2023. However, a lack of internal knowledge (particularly in complicated therapeutic areas), ongoing pressure on margins, and strict expectations from regulatory bodies are becoming more and more of a problem for biopharma businesses. Life sciences companies can benefit from increased productivity, reduced costs, and greater flexibility by combining Trilogy’s experience in medical writing with Indegene’s scalability and technology, particularly its Generative AI. This combination will also position the company to be future-ready, which will speed up regulatory approval for their products.
Manish Gupta, CEO of Indegene, stated, “Trilogy has years of demonstrated knowledge in medical writing, clearly evident from its team that has won the trust of life sciences leaders over the years.” Life sciences firms gain from working with a single service provider to supply efficient medical writing skills at scale across the value chain by combining Trilogy’s experience with Indegene’s capabilities. Our initiatives in content automation—particularly the use of Generative AI will benefit our clients in areas beyond regulatory and clinical writing, improving their results even more. We are thrilled to have the Trilogy team join the Indegene family and look forward to our shared adventure.
“Joining the Indegene family is a testament to the quality of our services and the expertise of our specialist team,” stated Dr. Julia Forjanic Klapproth, Senior Partner at Trilogy. I am excited about Trilogy’s next phase of growth and am proud of our status and reputation in the industry. This is an exciting and important evolution for Trilogy,” concurred Dr. Lisa Chamberlain James, Senior Partner of Trilogy. We are sure that by working together with Indegene, we will be able to extend our tech-enabled medical writing services and develop faster, all to the advantage of our life sciences clients. Indegene was represented in this transaction by Taylor Wessing. Vogel Heerma Waitz was in charge of representing Trilogy Writing & Consulting.
Succeeding with product launches in the biopharmaceutical sector
Forecasts for revenue from new biopharma releases are frequently not met. Indeed, 40% of newly prescribed drugs that were introduced globally between 2009 and 2017 fell short of their two-year sales projections, according to research. One An increasingly congested competitive landscape has made this more difficult to navigate; from 2010 to 2019, the number of new prescription drug releases rose by 60% when compared to the average number of launches during the previous ten years. Forecasts for the top launches have also grown significantly, with these items experiencing average peak sales doubled in the last ten years compared to the previous ten.
With increased competition and potential earnings, it is critical for businesses to pinpoint the main causes of launch forecast failures and take proactive measures to mitigate them during launch planning. For this specific purpose, Indegene and Everest Group have partnered to carry out a comprehensive analysis of biopharma product launches. Fifteen professionals with over a decade of experience in worldwide product launches and employment at top 20 biopharma businesses according to revenue were interviewed for the study.
The study found some typical difficulties that arise while launching a biopharmaceutical product, such as:
Difficulties with payer activation and reimbursement
Competition and regulatory barriers
Insufficient market uptake by healthcare practitioners (HCPs)
Challenges to field force effectiveness and efficiency
Problems with patient adoption and engagement
Getting regulatory certification with a suitably unique product label is one of the most prized competitive attributes of a new product. In order to do this, manufacturers need to take proactive measures early in the design of the clinical trial to shape the label and reduce any risks that can cause an approval delay, which would not only prohibit sales from happening right away but would also give competitors the chance to be the first to market. In order to facilitate favourable reimbursement and coverage, manufacturers must also endeavour to activate payers and overcome associated barriers. This entails supplying payers with pertinent product information and education.
Getting HCPs on board is another crucial barrier to a successful biopharma product launch. This has arguably always been a difficulty, but in the post-COVID environment, it has become much more challenging for field sales personnel to adapt to changing preferences and achieve HCP targets using traditional communication methods. Therefore, it is imperative that biopharma product makers identify and close any holes in their HCP engagement strategy and stop using in-person interactions as the main approach to interact, inform, and empower HCPs. Launch success also depends on interacting with and educating patients and offering essential product support and assistance programs tailored to the intricacy of the product and the illness area in addition to gaining the trust of HCPs.
Indegene and Everest Group have created a framework to enhance the results of biopharma product launches based on the study’s findings. Biopharma producers may find it easier to spot and fix launch-related weaknesses with this approach, increasing the likelihood of a successful launch.
Biopharma businesses are facing additional pressure from market headwinds including growing competition, changing laws, and patent expirations, in addition to their R&D expenditures. Biopharma companies’ R&D spending increased at a compound annual growth rate (CAGR) of 6% from $137 billion in 2012 to $238 billion in 2021.3. Comparing the annual average of the preceding ten years to the number of new product releases between 2010 and 2019, there was a concurrent 60% rise in this regard.2. The majority of these launches fell short of the anticipated level of commercial success.
Forty percent of newly prescribed drugs that were introduced globally between 2009 and 2017 fell short of their two-year sales projections, according to research.
Biopharma businesses must unquestionably accomplish launch success and forecast achievement in this unpredictable and dangerous atmosphere. With the post-pandemic payer and commercial environment changing, regulations growing more complex, and novel medicines being discovered with smaller patient populations, it is becoming more and more important to plan and implement a successful launch strategy.
Furthermore, the COVID-19 epidemic and additional economic constraints have altered the amount of incremental distinction needed to be relevant, making good communication that takes into account shifting customer preferences and behavior even more crucial.
Between February and August 2020, an investigation was conducted on 86 launches that were supposed to generate over $300 million in revenue starting in 2018 but ended up with delays, lost revenue, or both.1. The biopharma business has always been robust, but given the present socioeconomic climate and governmental changes, it is more important than ever to achieve launch success. Patients may decide to forgo some therapies altogether or move to generic alternatives as a result of high inflation rates.
With the projected implementation of the Inflation Reduction Act (IRA), the US market is likewise likely to see a squeeze in income. The approaching patent cliffs will intensify the effects of the IRA and may lead to Losses of Exclusivity (LoE). Through 2027, the US LoE is projected to reach around $141 billion.4 For biopharma firms to be successful in the present market, they must have a solid plan for launching new products.
