TSX stocks to buy as WHO considers declaring monkeypox global emergency

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TSX stocks to buy as WHO considers declaring monkeypox global emergency

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 TSX stocks to buy as WHO considers declaring monkeypox global emergency
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Highlights

  • The WHO is discussing if monkeypox cases should be declared as a public health emergency.
  • As of June 22, Canada had 211 confirmed cases of monkeypox.
  • Since the COVID-19 pandemic, the importance of solid healthcare infrastructure has been reiterated many times.

The World Health Organization's emergency committee met on Thursday to discuss they should declare a worldwide emergency amid rising monkeypox cases.

The infection caused by the monkeypox virus will be classified in the same category as COVID-19 if it is designated a public health emergency worldwide.

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The WHO had come under fire due to allegations that it delayed the coronavirus pandemic declaration. Same allegations were levelled against the global health body during the Ebola outbreak. Hence, the WHO's decision over the monkeypox cases is much awaited.

For many years, monkeypox was only seen in Africa, but since May, there have been reports of cases in Europe, Canada, the US, Australia, and many other countries.

As of June 22, Canada had 211 confirmed cases of monkeypox, and the Public Health Agency of Canada is closely monitoring the current situation.

Since the COVID-19 pandemic, almost all the countries have reiterated the importance of solid healthcare infrastructure. With rising monkeypox cases, governments could focus more on the healthcare sector in the coming months.

That said, if you are a long-term investor, then exploring stocks in the healthcare sector could be worth considering. Amid rising monkeypox cases, we have shortlisted the following stocks if you are in no rush:

Knight Therapeutics Inc. (TSX:GUD)

The healthcare company is involved in manufacturing both speciality and generic drugs. Primarily, the company is engaged in developing and selling innovative pharmaceutical products. As we are battling multiple diseases worldwide, Knight Therapeutics could develop some drugs to address the issues.

On June 23, the GUD stock closed at C$ 5.15 per share after it surged 0.8 per cent during the trading session. Meanwhile, Knight Therapeutics' revenues increased by 39 per cent year-over-year (YoY) to C$ 63.8 million in Q1 2022.

In the first quarter, the healthcare company's adjusted EBITDA increased to C$ 13.3 million, up by 139 per cent from Q1 2021.


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WELL Health Technologies Corp. (TSX:WELL)

The company provides healthcare-related services through primary health clinics. It operates in the segments like the electronic medical record (EMR), digital applications, and clinical operations & allied health, among others.

The company recently announced that it looks to grow further by acquiring INLIV, one of the leading companies in the executive health segment.

WELL Health achieved record quarterly revenues in Q1 2022 by increasing 395 per cent YoY to C$ 126.5 million. Meanwhile, the adjusted net income was C$ 8.6 million and it had posted an adjusted net loss of C$ 2.4 million in Q1 2021.

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Please note, the above content constitutes a very preliminary observation or view based on digital trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.

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