Is New Zealand’s Healthcare Sector Living Up To People’s Expectations Amid Covid-19?

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Coronavirus has put an immense pressure on the healthcare sector worldwide.  Every country around the globe has been struggling to cope up with an increasing demand of personnel, hospitals, and supply chain. The deadly pandemic has also affected economy of the various nations.

So far, New Zealand has bravely battled the staggering economy, and noted a fall in its GDP by 1% in the December quarter. Undeterred by last quarter’s performance, it is now focusing on improving the economy in Q1 2021.

On the vaccine rollout front, COVID-19 Response Minister Chris Hipkins has recently updated that till date 66,296 Pfizer vaccine has been inoculated to the Kiwis.  This can further lead towards NZ borders welcoming the tourists back to the country by the end of 2021, which could help boost the economy.

NZ is anticipating top line growth from the healthcare conglomerates like Promisia Healthcare, Fisher & Paykel, Rua Bioscience, etc.

In the light of given background, let us now explore 5 NZX listed healthcare stocks.

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Promisia Healthcare Limited 

Promisia Healthcare Limited (NZX:PHL) has of late announced raising $1.7 million under a share purchase plan (SPP), thereby providing working capital for day-to-day operations and funds for future growth and investments.

Moreover, it has issued $450,000 new shares at a price of $0.001 per share to its shareholders. Thus, taking the total cash raised to $10 million since last year. Also, PHL will issue the balance capitalisation shares to the trustees of Brankin Family Interest Trust.

On 1 April, Promisia Healthcare ended the day's trading session, at $0.002.

Fisher & Paykel Healthcare Corporation Limited

Fisher & Paykel Healthcare Corporation Limited (NZX:FPH) recently disclosed that with an increased hospitalisation rates across the world due to the ongoing pandemic, its operating revenue has risen by 73% on pcp for the nine months ended 31 December 2020.

Moreover, FPH’s hospital hardware sales grew at an astonishing 446% and the hospital consumables increased by 54% during the said period.

Also, with uncertainties associated with COVID-19 and the effectiveness of the vaccine, the Company felt its too early to give a trading update for FY21.

On 1 April, Fisher & Paykel Healthcare ended the day's trading session, down by 1.15% at $31.730.

Rua Bioscience Limited

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Rua Bioscience Limited (NZX:RUA) aims to be the country's leading manufacturer of medicinal cannabis for both the domestic as well as for international market.

The Company had recently exported a sample of about 70 grams of its medicinal cannabis flower to Germany, which was basically a trial run for the export of a similar product, but in huge quantities to the German distributor, Nimbus Health, later this year.

It is pointed out that to meet the growing demand for therapeutic cannabis to treat German patients, Nimbus is keen to expand its range in medicinal cannabis.

RUA is focused on capturing the global market with cannabinoid derived medicines and Germany being the prime focus.

On 1 April, Rua Bioscience closed the day's trading session, down by 2.33% at $0.420.

Oceania Healthcare Limited

Oceania Healthcare Limited (NZX:OCA) recently declared the opening of its retail offer of $20 million, which is a part of the Company's equity issue of $100 million. This offer is for the registered shareholders who can subscribe up to new shares amounting to $50K in Oceania.

Moreover, OCA undertook the placement of $80 million new shares to institutional investors in New Zealand and Australia. It is notified that the placement was fully subscribed at a price of $1.30 per share, settlement of which had occurred on 29 March 2021 for NZX.

On 1 April, Oceania Healthcare ended the day's trading session, down by 1.56% at $1.260.

AFT Pharmaceuticals Limited

AFT Pharmaceuticals Limited (NZX:AFT) recently struck a deal with German-based pharmaceutical company, Desitin Arzneimittel GmbH to develop and market its orphan drug Pascomer®. The agreement would cover countries like the UK, Switzerland, Norway, along with 27 other EU nations.

It is noted that Pascomer would help in treating facial angiofibromas, a type of Tuberous Sclerosis Complex, which is a genetic disease and has affected about 50,000 people across Europe.

On 1 April, AFT Pharmaceuticals ended the day's market session, down by 11.52% at $4.380. 

(NOTE: Currency is reported in NZ Dollar unless stated otherwise)


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