EU Healthcare Sector Specialist Commentary: Pharma - Biotech - Medtech

研报英文原文证据摘录

EU Healthcare Sector Specialist Commentary: Pharma - Biotech - Medtech

Marjan Daeipour - Specialist Sales - European Healthcare AC (44 20) 7134-1329 Europe Specialist Sales J P M O R G A Nmarjan.daeipour@jpmorgan.com

J.P. Morgan Securities plc 30 July 2026

Sandoz -Semaglutide generic approved in Brazil a minor positive. note

EUROAPI - 1H'26 First Take: 30% Core EBITDA miss, 2026 Sales guide reiterated but margin guide cut due to FX implies a c.

25% cut to Consensus FY26 EBITDA. note

Waystar - 2Q26: Strong Bookings, Early Iodine Cross-Sell and Normalization of Utilization, but Step Up in AI Investments

Pressuring FCF Generation. note

Vertical SaaS and HealthTech Weekly - News Flow and Valuation as of 07/29/26. note

India Pharma - US IQVIA Pulse – Base business flattish sequentially. note

Healthcare Facilities - Final 2027 Medicare SNF Rates Unchanged from Proposed; Down -80 bps Y/Y vs. 2026 Final Rate. note

Mitra Keluarga Karyasehat - First Take: 2Q26 softer than expectations, but long-term growth algorithm stays intact. note

Avantor - 2Q26 First Take: Top and Bottom Line Beat Driven by VWR. note

ICON Plc - 2Q26 First Take: Top and Bottom Line Beat with Guide Reiterated, Focus for Tomorrow’s Call Likely on Pass-

Through Bookings and Margin Implications. note

Avantor - 2Q26 Review: Solid VWR Execution, Albeit Margin Trajectory into 2027 Remains Key Question; Remain Neutral.

note

Adaptive Biotechnologies - 2Q26 Recap: MRD Volume Acceleration Drives Beat and Raise; Remain Overweight. note

Teva Pharmaceuticals - 2Q First Impressions: Topline Beat Driven By Branded Biz. note

Teva Pharmaceuticals - 2Q Takeaways: Branded Portfolio On Track. note

US Major Pharma -Monthly IQVIA Update. note