The Motley Fool

Sirtex Medical Limited (ASX:SRX) dose sales fall, takeover nears conclusion

Biotechnology medical device group Sirtex Medical Limited (ASX: SRX) has seen it share price zoom up almost 100% in the 2018 calendar year as a result of its imminent takeover, following two lucrative takeover proposals in January and May.

Sirtex yesterday reported NPAT of $41.5 million, underlying EBITDA growth of 23.4% to $75.9 million and marginal improvement in cash flow, although product revenue dropped 6.6% with dose sales also falling 5.7%.

The CDH-CGP offer for Sirtex follows on from a $1.6 billion offer by US company Varian which led to Sirtex paying out a $15.8 million break fee to Varian in July, which was reimbursed by CDH-CGP.

Sirtex’s CEO said the previous Varian scheme and the ongoing CDH-CGP scheme had caused “uncertainty and distraction” with a shareholder meeting to vote on the CDH-CGP scheme on September 10.

Sirtex is among several other emerging shares who have doubled their value in 2018, with Nearmap Ltd (ASX: NEA) and Speciality Fashion Group (ASX: SFH) also on the list.

NEW. The Motley Fool AU Releases Five Cheap and Good Stocks to Buy for 2020 and beyond!….

Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading over 40% off its high, all while offering a fully franked dividend yield over 3%...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.


Motley Fool contributor Carin Pickworth 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.