Piper Jaffray Starts Patheon Holdings (PTHN) at Overweight
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Piper Jaffray initiates coverage on Patheon Holdings (NYSE: PTHN) with a Overweight rating and a price target of $32.50.
Patheon offers its global pharmaceutical clients a single-source solution that spans the entire continuum of a drug’s lifecycle, from formulation development to clinical and commercial-scale manufacturing, packaging and lifecycle management across both small and large molecule products. Its wide range and scale delivers investors leading returns on invested capital and clear visibility on growth.
The increasing complexity of drugs in development is increasing the strategic prioritization of manufacturing for many biopharma companies. The manufacturing process of drugs in today’s biopharmaceutical supply chain is increasing in complexity with the rise of biotech drugs, personalized medicine and orphan drugs – each need a specialized approach due to their inherent instability and/or limited production runs.
Three divisions address the continuum of outsourcing needs. Patheon is organized into three distinct business units that follow the lifecycle of the molecule. Drug Substance Services (DSS) supports the creation of the Active Pharmaceutical Ingredient, including associated technologies for manufacturing at scale. The Pharmaceutical Development Services (PDS) segment manages the drug’s supply chain from pre-clinical development through regulatory approval. Finally, the Drug Product Services (DPS) segment manufactures drugs that are in commercialization. Because one segment feeds into the next, Patheon is able to offer biopharma customers a single source outsourcing solution across the continuum of the drug lifecycle, which translates into a longer client relationship and greater wallet share.
Shares of Patheon Holdings closed at $27.00 yesterday.
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