CIMB Research upbeat on Hovid, target price 43 sen

KUALA LUMPUR: CIMB Equities Research thinks investors may have overlooked the potential of Hovid’s pharmaceutical business and efforts to register tocotrienols (a type of Vitamin E) as a US FDA-approved drug.

It said on Monday these positives also appear to be eclipsed by losses at its Carotech subsidiary over the past few years. FY6/13 net profit was the best since FY07 while revenue ex-Carotech hit a record high.