This small manufacturer of medical devices from Auvergne has received authorization from the American Medicines Agency to market Mallya, its smart device that allows insulin pens to be connected. Its partners, major laboratories, are preparing to launch it later this year in different areas. This would allow him to make his first profit.
Great victory for the small Auvergne manufacturer of medical devices. He has just obtained authorization from the American drug agency, the FDA, to market Mallya, his smart device that allows insulin pens to be connected. Three months after Eli Lilly’s Tempo platform, Mallya thus becomes the second system approved in the United States, the world’s largest diabetes market. It should be remembered that this sensor, which adapts to insulin injector pens, completes the monitoring of the diabetic’s blood sugar levels (generally carried out by connected patches) by offering them better compliance with their treatment. Mallya records the dose and time of each insulin injection and transmits it to the patient’s mobile application, to their doctor and, anonymously, to the laboratory. Significant progress, knowing that 30% of patients would be subtitled due to an insufficient injected dose. Among Biocorp’s major partners, the two diabetes leaders Sanofi and Novo Nordisk, it is the French company that will first launch Mallya across the Atlantic to integrate it into its Solostar insulin injector pen. The laboratory, which did not have a connected pen, will thus be able to cope with the arrival of competition from Eli Lilly.
imminent take-off
In 2022, Biocorp should post a turnover increase of around 25%, to more than 12 million euros (and a break-even result) thanks to the milestone payments of its partners linked to adaptation of his system on their injectors. The real take-off of Mallya will take place in 2023. Sanofi will launch it at the start of the year in Europe and in the second half of the year in the United States. Novo Nordisk will attack Japan with its FlexTouch pen accompanied by the sensor and, finally, Merck will market its version of Mallya adapted to its treatment in the field of growth hormone. Biocorp’s activity could jump by 50%, to around 18 million in 2023, and medtech, which intends to enter into other agreements, become profitable. ” With this American authorization, we ticked the last box that was missing so that very large interested companies wanted to go further. The FDA pass is important for potential buyers concludes the general manager, Eric Dessertenne.
Our advice: Buy Biocorp at 20 euros to aim for a target price of 30 euros. The speculative dimension of the case is high. The founder, Jacques Gardette, aged 75, who holds 47.5% of the capital, could consider selling. Isin code: FR0012788065.
