Brazilian Retailers: UBS Shopping Cart: Hypera‘s semaglutide pen; Hering potential spin off; Muffato‘s stake in ASAI; Fashion eCommerce

Research evidence excerpt

Brazilian Retailers: UBS Shopping Cart: Hypera‘s semaglutide pen; Hering potential spin off; Muffato‘s stake in ASAI; Fashion eCommerce

Global Research

24 June 2026ab

Brazilian Retailers Equities

AmericasUBS Shopping Cart: Hypera's semaglutide pen;

Hering potential spin off; Muffato's stake in Consumer, Cyclical

ASAI; Fashion eCommerce Vinicius Strano,AnalystCFA

vinicius.strano@ubs.com

+55-11-2767 6688

Hypera names semaglutide pen “Semavy” ahead of potential Anvisa approval Isabella Lamas

Analyst

According to Folha, Hypera's synthetic semaglutide injectable pen will be branded isabella.lamas@ubs.com

as “Semavy,” with the product name already published under an official protocol by +55-11-2767 6836

CMED. Although this step precedes sanitary approval, the filing has been accepted

Lucca Biasi

by Anvisa, suggesting that final approval could come at any time. The drug is

Associate Analyst

initially targeted at the treatment of type 2 diabetes, with the company expected lucca.biasi@ubs.com

to later seek authorization for weight-loss indications. +55-11-2767 6173

Pedro Perone

Hering family pushes to spin off brand from Azzas, hires BR Partners

According to Pipeline, a group of Azzas shareholders representing around 11% of the pedro.perone@ubs.com

company’s capital, led by the Hering family, is exploring a potential separation of +55-11-2767 6007

the basic apparel brand to re-establish it as an independent business. The family has

hired BR Partners to engage with Azzas, and an initial approach has already been

made to the company’s board and financial advisors. The group is open to either

acquiring the brand outright or structuring a spin-off in which they would hold a

larger stake in Hering, potentially through a share swap involving other brands