Opinions John Zechner
Apotex HealthAPTX.TOTOP PICKSep 23, 2026
John ZechnerStock price when the opinion was issued
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Fair amount of operations in the US that have been impacted by tariff issues. Doing extremely well. One of the leaders in Canada, and in NA, for generic drugs. Generics will continue to do well.
Bruce Murray
Largest manufacturer of conventional, specialty, and biosimilar generic drugs in Canada. Cleaner balance sheet since the IPO. Big near-term catalyst is GLP-1 market; first-mover advantage could lead it to capture 20% or more of that market. Lots of branded pharmaceuticals going off patent in Canada in next 5 years.
Good-sized position in US, growing organically there as well. No dividend.
Brian MaddenLooks impressive, but he likes a bit more trading history before jumping in. (Interestingly, the IPO came out just before SpaceX, and APTX has outperformed it.) Seeing amazing growth, as well as projected growth. Moving beyond generics to biosimilars (take long to be approved, not as much risk, margins tend to be higher). Expanding to US and beyond.
Profitable business, over $1.5B of operating cashflow. Moved beyond generics to molecules and biologics. Only generic GLP-1 drug in Canada. Low valuation.
(Analysts’ price target is $41.22)Most importantly, we have't had an institutional-quality healthcare company in Canada for over 10 years. All we have are pot stocks. Are those really healthcare? This is a legitimate, large-cap play in a growth sector that should draw institutional interest. High margin, generates a lot of cashflow. Recent secondary sale put a bit of pressure on the stock. Yield is 0.72%.