News

Our analysts track global trends in healthcare that have been reported on regularly.
Read more about Lacuna's collection of articles covering the period 08/2021 to 08/2022 here.

Our analysts were in Poland to meet several of our portfolio holdings and potentially interesting new investment candidates. You can read more here.

We recently had the opportunity to visit our portfolio holding Georgia Capital on site in Tbilisi. Read the report here.

Granules is a manufacturer of high-volume generic pharma APIs and formulations, which are sold globally. It has large manufacturing facilities for core molecules like Paracetamol, Metformin, Ibuprofen, and others. An improving business mix, better pricing, and rising capacity utilization will enable Granules to continue the 20% growth trajectory, which it witnessed over the last 3 years.

High end, high-touch technology for COPD patients within an innovative rental service system.

Our analysts traveled South Korea to take a closer look at the Korean healthcare sector and to discover new companies for our portfolio.

30. & 31. Januar 2019

Meet Lacuna's fund management team.

Hugel Inc (“Hugel”) is a large-cap South Korean cosmetics company selling Botulax (well known as “Botox”) and Dermal Filler in Korea (30% of total sales), and exports to countries such as Japan and Latin America. We are betting on a company that disrupted the Korean staid-old Botox industry and grew from 0% to 38% of the market over the last decade while still maintaining healthy margins.

Werner Engelhardt on the potential of Healthcare Investments

Medikit is a major manufacturer in vascular access and interventional medical devices. As in the case with EM Systems, Medikit has practically no sell-side coverage and files exclusively in Japanese. As such, this gem of a business has flown under the radar of larger institutional investors.

Shire Plc is a UK listed diversified specialty pharma and rare disease company with dominant position in niche markets. 67% of its revenues come from US and the remaining third from Europe and Japan. In March 2018, Japan's largest pharma company, Takeda, proposed a merger to Shire, which might prove beneficial to us if accepted.

During the talk with Hauck & Aufhäuser, Werner Engelhardt explains, what he thinks about artificial intelligence, chances on the Indian healthcare market and Amazon's pharma aspirations.

Strides Shasun (“Strides”) is an Indian mid-cap generics manufacturer with a focus on United States and Australia. While the business sells the lion’s share of formulations in regulated markets (71%), almost a third of sales falls into institutional sales (20%), which include drugs for HIV, Malaria and Hepatitis C, and Emerging markets (9%).

Sinopharm is China’s largest pharmaceutical distributor with the country’s most extensive pharmaceutical distribution network. As the industry shifts from a fragmented to a more oligopolistic competitive landscape, the company has been the primary winner of the trend with its market share more than doubling in a decade.

The Indian company Jubilant Life Sciences Limited is a market leader in radio pharma and orphan drugs. Since most investors focus on the chemical sector, Jubilant is repeatedly underestimated by them. While the stock has performed well since it hit its multi-year low in 2013/2014, we still view it as an attractive investment.

In his interview with Geldmagazin, Werner Engelhardt explains Lacuna's investment strategy and the appeal of the healthcare business as investment focus.

How is the financial market developing? Are we facing a new stock market crash? Werner Engelhardt states his view on the short and mid term developments in the financial sector.

Gerd Bennewirtz analyses the Lacuna Asia Pacific Fonds in his weekly FondsEcho-Column.

In an interview with Citywire explains Werner Engelhardt his investment strategy of this past months.

Sirtex Medical is an Australian producer of medical devices for the treatment of cancer. During the past years it was severely undervalued by the market. Using our Wounded Eagle framework, we could estimate a reliable internal value for Sirtex and find a valuable stock for us.

March 7th & 8th 2018

Meet the Lacuna fund management team there

In an article with the Life Sciences magazine, Werner Engelhardt explains chances and alternatives when investing in healthcare.

Lacuna Asia Pacific Health Fonds was awarded with the €uro FundAward again.

January 24th & 25th 2018

Meet the Lacuna fund management team there

Werner Engelhardt talks to Wirtschaftszeitung about his philosophy, past successes und setbacks.

EM Systems is the biggest software provider for Japanese pharmacies. Simultaneously, EMS provides two attributes we value very much when analyzing companies: loyal, returning customers and a solid track record.