Global Health Limited (ASX: GLH) has been developing software for the healthcare industry for more than 30 years. Today it announced a new partnership between the company’s Lifecard consumer health platform with Asthma Australia. The news sent the Global Health share price rocketing up almost 74% to 40 cents at the time of writing.

What moved the Global health share price?

Almost 3 million Australian’s live with asthma. Asthma Australia aims to halve avoidable asthma hospitalisations by 2030. Using the The Lifecard platform, users are able to better manage their health and wellbeing. 

Lifecard connects consumers with their care team so they can work in tandem to comply with prescribed care plans. ReferralNet, Global Health’s secure message platform, integrates with Lifecard. Consequently, subscribers can receive health and medical information directly into their Lifecard Personal Health Record. 

Furthermore, work has begun to integrate Lifecard with wearables and remote monitoring devices. This additional data will provide a more complete and real-time view of a consumer’s health, enabling more informed decisions. The company plans to integrate asthma-related data, such as peak expiration flow rate, from wearables.

What did management say?

Global Health managing director Mathew Cherian said:

We are looking forward to the year ahead and what we can achieve together with Asthma Australia. Our shared belief and vision is that the Lifecard platform is an invaluable tool to help consumers manage their long-term conditions and encourage a healthy lifestyle through pro-active engagement.

Asthma Australia CEO Michele Goldman also welcomed the partnership, saying:

People with asthma will often see more than one health professional over the course of time, even multiple visits to different emergency departments. We often hear that people with asthma get rather exhausted retelling their health history, which can be complex and traumatic, and that doctors appreciate the opportunity to assess a health record. 

Lifecard is all about more complete information with a holistic picture that enables more insightful conversations between a patient and their doctor. We see this partnership as a great opportunity
for people with asthma to embrace a health tool, and another step toward individualised, person centred health care.

The Global Health share price closed the day up 73.91%.

More reading

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• ASX 200 finishes lower, Afterpay (ASX:APT) shares rise
• Are Seek (ASX: SEK) shares a good pick for long term investors?
• Here’s why the SciDev (ASX:SDV) share price has exploded today
• ‘Vomit buying’: How fundie spent $110m during COVID-19 crash

Motley Fool contributor Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Clean TeQ Holdings Ltd (ASX: CLQ) share price today climbed 3.33% to 31 cents before dropping back to 30.05 cents at the time of writing. This came after the company released its report for the quarter to 30 September 2020.  

What was in the report?

Highlights during the September quarter included discussions with potential funding partners to develop Clean TeQ’s Sunrise asset, which the company described as “one of the world’s lowest cost sources of sustainable nickel and cobalt”.

Clean TeQ also discussed its collaboration with Relativity Space Inc. to provide scandium oxide from the Sunrise project. The scandium will be used to develop scandium-aluminium alloys for the 3D printing of launchers for commercial orbital launch services. 

During the quarter, the company also announced that a high grade platinum resource had been identified within the Sunrise project named the Phoenix platinum zone.

Clean TeQ said Sunrise hosted 103.1 million tonnes at 0.33 grams per tonne of platinum for 1,076,170 total ounces of platinum with 90% of this resource in the measured and indicated categories. Within the Phoenix platinum zone, significant historic downhole intersections included 4m at 7.4 grams per tonne platinum, 0.13% nickel and 0.01% copper in addition to 1 metre at 6.5 grams per tonne platinum, 0.15% nickel and 0.01% copper and 1 metre at 4.2 grams per tonne platinum, 0.15% nickel and 0.01% copper. A 6 drill hole diamond core drilling program is planned for the current half of the 2020 calendar year.

Clean TeQ is continuing with its plan to separate its water division from the remainder of the business, including the Sunrise Project and its other mineral exploration activities. It is also considering delisting from the Toronto Stock Exchange, with a cost benefit analysis being undertaken. 

CleanTeQ had cash of $34.02 million at 30 September 2020, down from $40.08 million at the end of the previous quarter. The company’s biggest cost during the quarter was exploration, costing $3.18 million.

About the Clean TeQ share price

Clean TeQ is a minerals development company that also holds patented technology which can be used for water purification and resource extraction. It has been listed on the ASX since 2007.

Earlier this month, Clean TeQ advised it was consolidating its securities, with security holders receiving 1 share for every 10 held.

The Clean TeQ share price is up 210% from its 52-week low of 10 cents. It has risen 40.91% since the beginning of the year. The CleanTeQ share price is up 14.81% since this time last year.

More reading

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• Are Seek (ASX: SEK) shares a good pick for long term investors?
• Here’s why the SciDev (ASX:SDV) share price has exploded today
• ‘Vomit buying’: How fundie spent $110m during COVID-19 crash
• PayGroup (ASX:PYG) share price moves higher on contract win

Motley Fool contributor Chris Chitty has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX:XJO) fell by 0.27% to 6,179 points today.

Here are some of the highlights from today:

Afterpay Ltd (ASX: APT)

The Afterpay share price climbed by over 2% today after giving an update regarding AUSTRAC.

Afterpay said that after AUSTRAC looked at the final audit report from independent auditor Neil Jeans and Afterpay’s response to the findings, it has decided it won’t be taking any further regulatory action.

AUSTRAC noted that Afterpay has lifted its anti-money laundering and counter-terrorism financing compliance framework and financial crime function, and satisfactorily completed all required remediation activity.

Zip Co Ltd (ASX: Z1P)

Fellow ASX 200 buy now, pay later business Zip provided an update for the quarter ending 30 September 2020.

Zip reported record quarterly revenue of $71.7 million, up 88% year on year. It achieved record quarterly transaction volume of $943.1 million, up 96% year on year. Zip said its transaction volume is now annualising at $3.8 billion.

Its customer numbers grew by 114% year on year to 4.5 million. Merchants on the platform grew by 69% year on year to 34,400.

Zip’s Australian monthly arrears, which it views as a forward indicator of future losses, reduced from 1.33% in June to 0.91% in September.

During the quarter, it completed the acquisition of QuadPay in the US. Last quarter, Quadpay achieved $322.5 million of transaction volume, $23.4 million of revenue and it finished with 2.2 million customers.

The Zip share price finished lower by around 4%.

CSL Limited (ASX: CSL)

CSL held its AGM today and increased its FY21 guidance.

The biggest ASX 200 company is now expecting revenue to grow in the range of 6% to 10% in FY21. Net profit after tax (NPAT) is expected to come in between US$2.17 billion to US$2.265 billion in constant currency terms, which would represent growth of between 3% to 8%.

That profit prediction for FY21 is an upgrade from the previous guidance, which was growth of between 0% to 8%.

CSL is expecting strong demand for its plasma and recombinant therapies to continue. With Seqirus, it’s expecting to continue to benefit from its differentiated products and strong demand for flu products. Sales of albumin are expected to normalise after the transition to the new business model in China.

In terms of R&D, the company is expecting to spend between 10% to 11% of R&D due to the COVID-19 response and new R&D initiatives.

The CSL share price went up by 1.4%.

Westpac Banking Corp (ASX: WBC)

The major ASX 200 bank has been reviewing its Asian, European and US businesses.

Westpac has decided to consolidate its international operations into three branches: Singapore, London and New York.

This means that Westpac is going to exit Beijing, Shanghai, Hong Kong, Mumbai and Jakarta.

The acting chief executive of Westpac’s institutional bank, Curt Zuber, said: “Westpac’s priority is to focus on its core Australian and New Zealand customers and to support them in areas where we have scale and capability.

“To support this, WIB will be focusing on our international footprint in three critical locations and streamlining the product set and customers we support outside Australia and New Zealand.

“For WIB, the change will enable us to deliver products and services to customers more efficiently. Our ambition is to be the leading Australia and New Zealand-focused institutional bank for customers while delivering sustainable returns.”

“We are fully committed to supporting our employees, customers and partners through this changes.”

The changes are not expected to have a significant impact on cash earnings and the bank hopes it will improve the capital efficiency, including by reducing risk-weighted assets by over $5 billion.  

The Westpac share price fell 1.2% today, though all of the big ASX banks’ share prices dropped today.

More reading

• ‘Vomit buying’: How fundie spent $110m during COVID-19 crash
• Here’s why Medical Developments (ASX: MVP) share price has soared 12% today
• Why the Flight Centre (ASX:FLT) share price slumped despite new tourism campaign
• Here are 10 years of ASX 200 historical returns
• My top 5 ASX growth shares to buy right now

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. and ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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While SEEK Limited (ASX: SEK) was not immune from the impact of the COVID-19 pandemic, the Seek share price has recently returned to its pre-COVID level of around $23 per share.

The online job seeking platform announced a loss of $414.9 million (-9%) in earnings before tax from June 2019 to June 2020. However, its diversified business model is the reason why I think Seek is a diamond in the rough, despite its underperformance in FY20.

Diversified markets and products

As an Australian employment marketplace that matches jobseekers and employers, Seek’s main revenue stream comes from job advertisements.

Accordingly, the jump in the national unemployment rate from 5.2% in March to 6.2% in April led to a dip in Seek’s share price. The company’s second quarter billing dropped by 65% compared to the same period in FY19.

However, Australia is showing signs of recovery. The Australian Bureau of Statistics revealed a rebound on payroll numbers by almost 5% since June. Despite the signs of a pickup from April’s lows amid the national lockdown, the prospects for Seek.com and the domestic employment market in general are still uncertain. We are battling with the virus until a vaccine is ready.

The local Australian market may not be at its best for Seek, as evidenced by its negative revenue growth of 12% in FY20. The company has been relying on its investment in Zhaopin, a Chinese online recruitment web platform (which posted revenue growth of 16% in FY20) and early stage ventures (with revenue growth of 18% in FY20) to diversify downside risks.

The company also operates in Asian countries such as Hong Kong, Malaysia, Singapore, Philippines, Thailand, Indonesia and Vietnam using different brand names. In addition, it has scaled up its investment in early stage ventures such as Coursera (an online open course provider) and Go1 (a digital learning library) in 2020. As such, I think Seek can capture a large market opportunity globally and generate a sustainable return on investment given the increasing need of home learning.

Investing in the future of work

There is no doubt that COVID-19 has highlighted existing workforce challenges in Australia. As the Australian Federal Budget 2020–21 was focused on the future of work, jobs and reskilling local workers, I see an opportunity for Seek to build on this momentum in the human capital market.  

For example, the company has made a long-term future investment plan to tap into 3 niche segments (online education, human resources software as a service, and contingent labor) with a target return rate of 15–20% over the next 5 years. 

This year the company delivered strong results in these 3 areas. Additionally, its growth strategy is a complement to the Government’s plan to look at the future of work. Seek’s share price has revived steadily to the pre-COVID level with good business potential. 

Foolish takeaway

Based on the company’s growth plan, I believe that the value of its international assets and early stage ventures will become an important driver of the Seek share price in 2021.

At the current time, it appears the domestic job advertisement recovery is already being factored in. I think the Seek share price could be appealing to long-term investors – investors should pay attention to Seek’s offshore growth and its ability to unlock the full potential of its ventures. 

More reading

• 3 top ASX shares to buy and cash in on the Federal Budget
• Would Warren Buffett buy SEEK (ASX:SEK) shares?
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• Buying and holding these ASX shares could be the key to becoming wealthy
• Why I think the Seek (ASX:SEK) share price is primed to surge in 2021

Motley Fool contributor Miles Wu has no position in any of the stocks mentioned. The Motley Fool Australia has recommended SEEK Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Scidev Ltd (ASX: SDV) today published a quarterly report which builds on steady progress over the past two years. Accordingly, the SciDev share price has surged up 10.2% to 75 cents at the time of writing.

The company develops chemistries and engineering solutions to help clients with a range of operational issues associated with water. For instance, it develops coagulants and flocculants to treat wastewater. Moreover, it has a proprietary system to provide real-time monitoring of solid-liquid separation in mineral processing. Furthermore, it also produces products to recycle and minimise the use of oilfield waters. 

The headline of the quarterly report is a record $9.4 million in sales, which is likely the issue that drove the share price up. This includes $4.6 million in sales during September alone. 

SciDev performance highlights

Strong performance in the quarter was reflected across all sectors, including mining & mineral processing (32%), oil & gas (32%), construction & infrastructure (29%), and water & wastewater (7%). Specifically, revenue was strong in oil & gas as a result of improved drilling activity in the US shale sector. In addition, SciDev conducted direct work with several key customers, adding to revenue strength.

In addition, the company added the Shell Oil Company as an R&D partner for new technology development focussed on gas to liquid solvents. Critical to this project was the addition of a new PhD qualified R&D manager to the team, seconded to Shell, to develop new applications for this type of chemistry.

 Existing business in the mining sector continued. In addition, the contribution from the infrastructure sector also continued to grow as the company expands further. The SciDev share price has been rising gradually over the past 6 months in response to regular announcements of new contracts and work. 

What’s the future for the SciDev share price?

The company has a strong business development pipeline with field qualifications under way across all sectors. This includes plans to expand further into construction, and new services in oilfields and mining. In particular, companies in the mining sector have invited SciDev to participate in several competitive tenders. 

Within water and wastewater the company continues to participate in a major national tender. Its ability to produce though its plant in Sydney delivers security of supply, which is an attractive proposition.

Reflecting on Q1 FY2021, SciDev chief executive officer Lewis Utting said:

The September quarter business performance was outstanding and sets the scene for a strong FY2021. After a COVID-19 impacted June quarter, our growth across all verticals in the September quarter was exceptionally pleasing… We look forward to continuing to deliver on our range of growth opportunities over the coming quarters.

The SciDev share price has risen by 17% over the past 6 months. In the past 5 days of trading alone, it is up by 12.78%.

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Motley Fool contributor Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Late February and most of March, we saw something we hadn’t seen in more than 10 years. 

A share market crash.

You know the story. The S&P/ASX 200 Index (ASX: XJO) hit 7,162.5 points on 20 February, then COVID-19 came — and it had sunk to 4,546 on 23 March.

That’s almost a 37% drop in just one month.

Long-held investor wisdom says one must buy when the market sinks to such lows. Pick up the bargains, they say!

But we are all human and it takes even seasoned professionals a tremendous amount of courage to buy when everyone else is selling.

Pengana Capital Group Ltd (ASX: PCG) was in the fortunate situation of sitting on a decent cash pile when the markets plunged as the world went into lockdown.

The company’s chief investment officer and Australian Equities senior fund manager, Rhett Kessler, used that stockpile to buy ASX shares during the crash.

His nerves were shot though, he admitted.

“It was fantastic we did this, but I can honestly say it was one of the toughest periods in my 30 years of experience in this industry,” Kessler told an investor briefing.

“It enabled us to apply $110 million of our cash into shares, at really attractive prices.”

Vomit buying

Kessler said that buying shares when everyone is selling is called “reaching across the abyss” — as in trying to get to the other side of a canyon. Or perhaps the other side of the price graph.

But there’s also a more experientially literal term: vomit buying.

“You literally buy something, then you stand up. You walk around the desk, trying your hardest to settle your stomach so that you don’t throw up,” said Kessler.

“Then you sit back down, and you buy some more at 5% lower.”

Kessler’s team did this repeatedly during those harrowing weeks in late February and March.

And it has paid off handsomely for Pengana investors, with the ASX 200 climbing more than 36% since the March trough.

Although Kessler considers his Australian Equities Fund to be reasonably careful with its capital, he said you can’t procrastinate during such frantic times.

“It’s no good just saying you’re conservative. You have to be able to act when opportunities present themselves,” he said.

“By deploying so much cash that we went from one of our highest levels of cash to our lowest level of cash in the history of our fund over the period of a month… Speaks to our discipline and our ability to act when needed.”

Kessler said Pengana had already cashed in a lot of its winnings to build its cash reserve back up.

“Bizarrely things have turned almost 180 degrees. Not only did the market correct… it bounced back enormously. In our view, to some extent it’s trading above fair value,” he told investors.

“We’ve gone from our lowest level of cash to net sellers, at very attractive prices.”

The Pengana share price itself has almost doubled since the COVID-19 bottom, trading at $1.50 on Wednesday afternoon AEST. It had tumbled to 82 cents back in March.

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Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The PayGroup Ltd (ASX: PYG) share price has moved higher today after the company announced a contract win.

The human capital management (HCM) solutions company saw its share price reach as high as 59 cents at market open. However, at the time of writing, the Paygroup share price has dropped to back 56 cents, up 1.83%.

Let’s take a look at PayGroup’s new deal.

New contract

PayGroup signed a new three-year agreement with Volvo Group Singapore, with a total contract value of $120,000.

The contract will see PayGroup provide Volvo with a number of software as a service (SaaS) human capital management modules. This includes Core HR, E Leave, E Claims, and E Time, including a GPS-enabled clock in and out. In addition, to sweeten the deal for Volvo, PayGroup will supply its software-with-a-service (SwaS) payroll as part of the contract. The combined product service suite is the company’s first collective offering.

PayGroup said the contract win demonstrated the rapid progress it had achieved to date. In particular, the integration of recently acquired TalentOz’s HCM technology with PayGroup’s SwaS products.

What did management say?

Commenting on the deal, PayGroup managing director Mark Samlal said:

This is an important H2 contract win for PayGroup, particularly following our acquisition of TalentOz in July 2020 – which provided PayGroup with a full service HCM product suite that covers the entire ‘hire to retire’ lifecycle.

The contract with Volvo highlights the opportunities being opened up by our enhanced suite of HCM products. In conjunction with our market leading payroll services, our addressable markets and customer targets are being increased across many regions.

Mr Samlal said sales of new contracts in H1 FY20 were $5.4 million, 98% of the total new contract wins in FY20.

We expect this strong sales momentum to continue into H2 FY20 and we are highly confident of the growth we can deliver.

More reading

• What’s driving the PayGroup (ASX:PYG) share price higher today

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Medicinal cannabis company Little Green Pharma Ltd‘s (ASX: LGP) share price is up 10.34% in late afternoon trading.

This comes following the company’s announcement it has been granted a Good Manufacturing Practices (GMP) licence by the Therapeutic Goods Administration (TGA) for its recently commissioned manufacturing facility in Western Australia.

Today’s gains put the Little Green Pharma share price up 68% from its 24 March lows. Since listing on 20 February, the share price is down 8.57%. By comparison the All Ordinaries Index (ASX: XAO) is down 11.8% over that same time.

What does Little Green Pharma do?

Little Green Pharma is a medicinal cannabis business. Its operations span from cultivation and production through to manufacturing and distribution. The company produces its own range of GMP-grade medicinal cannabis products at its indoor facility in Western Australia.

Little Green Pharma supplies medical-grade cannabis products domestically in Australia and to international markets.

What does the licence mean for the Little Green Pharma share price?

With the new grant, Little Green Pharma now holds more than 20 state and federal operating authorisations.

According to the announcement, the company is now the only ASX medicinal cannabis share able to manufacture TGA GMP-grade medicinal cannabis flower and oil products in-house for delivery into Australian and European markets.

Commenting on the grant, Little Green Pharma Managing Director, Fleta Solomon said:

The grant represents the culmination of LGP’s long-term regulatory strategy and is a clear watershed moment for the Company. The grant of this GMP licence differentiates the company as the only fully TGA and ODC licensed and permitted medicinal cannabis company listed on the ASX with local Australian cultivation, manufacturing and wholesaling capacity, as well as brands in market.

This end-to-end capability allows us to more effectively manage costs, focus on higher-margin aspects of the supply chain, and supply LGP-branded GMP-grade medicinal cannabis products into the highly regulated markets of the European Union.

The company is particularly keen on the lucrative German market. Although it has the third largest medicinal cannabis market in the world, Germany remains entirely dependent on imports.

Little Green Pharma stated that it plans to develop its capability to manufacture additional GMP-licenced cannabis products and other pharmaceutical formulations.

With the new grant in place, the Little Green Pharma share price may be one to keep an eye on.

More reading

• Why the Nearmap (ASX:NEA) share price is surging 8% higher today
• Here’s why Medical Developments (ASX: MVP) share price has soared 12% today
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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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One of the best performers on the S&P/ASX 200 Index (ASX: XJO) on Wednesday has been the Nearmap Ltd (ASX: NEA) share price.

In afternoon trade the geospatial map technology provider’s shares are up a sizeable 8% to $2.68.

Why is the Nearmap share price surging higher today?

Investors have been fighting to get hold of the company’s shares today following the release of a presentation this morning.

Although the presentation didn’t contain any material information, it does give investors a thorough breakdown of Nearmap’s plans over the coming years.

Pleasingly, management appears confident that its growth will accelerate thanks to its recent capital raising and new growth initiatives. So much so, it is targeting annualised contract value (ACV) growth of 20% to 40% per annum over the long term, with underlying churn of less than 10%.

One key driver of growth is expected to be the roll out of the HyperCamera3 system. This will expand coverage at higher fidelity and enable the expansion into new geographical markets.

Furthermore, it is expected to create the world’s first fourth generation capture technology and extend its technological lead over the competition.

Global domination?

Another key takeaway from the presentation was that management believes Nearmap is uniquely positioned for a global opportunity.

This is thanks to its industry leading product, scalable subscription business model, and passionate and specialist team.

At present, the global aerial imagery market is estimated to be worth US$10.1 billion a year. This is notably greater than the $106.4 million of ACV the company reported in FY 2020.

Clearly, Nearmap has a very long runway for growth over the next decade. 

One broker that is very positive on its prospects is Citi. Last month its analysts put a buy rating and $3.15 price target on Nearmap’s shares. This price target implies potential upside of over 17% even after today’s strong gains.

More reading

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Medical Developments International Ltd (ASX: MVP) share price has surged 11.83% to $5.86 at the time of writing, after coming out of a trading halt this morning.

Medical Developments had asked for a trading halt ahead of today’s announcement of significant personnel changes. 

What did the company announce?

The company announced the appointment of Brent McGregor as the new chief executive officer. Mr McGregor previously worked for CSL Limited (ASX: CSL) subsidiary Seqirus, which was formed from CSL’s acquisition of the Novartis influenza vaccine. 

Seqirus had a turnover of around $700 million and was loss-making in 2015 when Mr McGregor joined the company. By 2019, Seqirus had a turnover of $1.2 billion and EBIT of around $150 million. According to Medical Developments, Mr McGregor was central to the Seqirus globalisation and was focused on research and development, and cost management.

Previously, Mr McGregor held senior executive roles at Novartis after working in leadership roles for Sanofi Pastuer, where he had a 16-year career. Mr McGregor will take the reins as Medical Developments CEO from 1 November 2020. 

The company also appointed a new non-executive director, Gordon Naylor. Mr Naylor also previously worked for CSL, clocking up 30 years with the company. He held leadership positions including CFO and later president of Seqirus.

Medical Developments chair David Williams said the fact that Mr McGregor and Mr Naylor had previously worked closely together at Seqirus was an added benefit for the company.

About the Medical Developments share price

Medical Developments is a pharmaceutical company that specialises in emergency pain relief and asthma medication. The company has been listed on the ASX since 2003.

 In the year to 30 June 2020, Medical Developments had record revenue of $23.6 million. The company had earnings per share of .58 cents in FY2020.

The Medical Developments share price is up 51.60% since its 52-week low of $3.76. However, it is down 36.67% since the beginning of the year. The Medical Developments share price is up 16.80% since this time last year.

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Chris Chitty has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. and Medical Developments International Limited. The Motley Fool Australia has recommended Medical Developments International Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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