Investment Trusts

BioPharma Credit PLC

BPCR:LSE

BioPharma Credit PLC

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  • Price (USD)0.872
  • Today's Change-0.024 / -2.68%
  • Shares traded2.12m
  • 1 Year change-10.10%
  • Beta0.2807
Data delayed at least 20 minutes, as of Mar 28 2024 13:27 BST.
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About the company

BioPharma Credit PLC is a United Kingdom-based closed-ended investment company. The principal activity of the Company is to invest in interest-bearing debt assets with a contractual right to future cash flows derived from royalties or sales of approved life sciences products. The Company's investment objective is to generate long-term shareholder returns, predominantly in the form of sustainable income distributions from exposure to the life sciences industry. The Company seeks to achieve its investment objective predominantly through direct or indirect exposure to debt assets, which include royalty investments, senior secured debt, unsecured debt and credit linked notes. Its diversified portfolio is primarily secured by cash flows derived from sales of approved life sciences products. The Company holds a majority of its investments through its financing subsidiary, BPCR Limited Partnership. Its investment manager is Pharmakon Advisors L.P.

  • Revenue in USD (TTM)135.73m
  • Net income in USD108.45m
  • Incorporated2016
  • Employees11.00
  • Location
    BioPharma Credit PLC51 New North RoadEXETER EX4 4EPUnited KingdomGBR
  • Phone+44 139 247 7503
  • Websitehttp://bpcruk.com/#
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Profile

Management group(s)Pharmakon Advisors L.P.
AIC sectorDebt - Direct Lending
ISINGB00BDGKMY29
Launch date27 Mar 2017
Share typeOrdinary Share
StructureInvestment Trust
Base currencyUSD

Objective

To generate long-term shareholder returns, predominantly in the form of sustainable income distributions from exposure to the life sciences industry. The Company will seek to achieve its investment objective predominantly through direct or indirect exposure to Debt Assets, which include Royalty Investments, Senior Secured Debt, Unsecured Debt and Credit Linked Notes.

Managed by

Pedro Gonzalez de Cosio, Pablo Legorreta, Martin Friedman

Management & contract fees

Annual management fee is 1% of NAV. The performance fee is calculated as 10% of returns, subject to High Watermark and a 6% preferred return hurdle with 50% catch up.

Peer analysis

Key Information
CompanyRevenue (TTM)Net income (TTM)Market capEmployeesPrice/earnings (TTM)Price/book value (MRQ)Price/cash flow (TTM)Price/sales (TTM)EPS (excl. extraordinary items, TTM)EPS (incl. extraordinary items, TTM)Revenue per share (TTM)Book value per share (MRQ)Asset turnover (TTM)Inventory turnover (TTM)Receivables turnover (TTM)Revenues per employee (TTM)Return on avg assets (TTM)Return on avg assets (5 yr avg)Return on investment (TTM)Return on investment (5 yr avg)Gross margin (TTM)Gross margin
(5 yr avg)
Net profit margin (TTM)Net Profit margin
(5 yr avg)
Quick ratio (MRQ)Interest coverage (TTM)Total debt to capital (MRQ)Payout ratio
(5 yr avg)
Revenue
(YOY change %)
Revenue
(5 yr growth rate)
Net income
(YOY change %)
Net income
(5 yr growth rate)
Capital expenditure
(5 yr growth rate)
Dividend
(5 yr growth rate)
Global Smaller Companies Trust PLC-25.80m-35.88m988.92m0.00--1.03-----0.0559-0.0559-0.03881.51----------4.25--4.37--87.76--84.19----0.062726.15-1,911.79---329.28----9.82
TwentyFour Income Fund Ltd163.65m153.10m990.64m0.006.191.02--6.050.16920.16920.18071.030.1767--13.28--16.532.7317.542.8994.2477.3093.5573.83----0.0077234.90-134.60---162.24----5.56
Merchants Trust plc32.84m20.58m991.78m0.0041.940.9622--30.200.12610.12610.18445.500.03------1.885.961.916.1569.9382.6862.6880.48----0.076574.95-74.26-10.96-77.95-11.68---2.55
JPMorgan Japanese Investment Trust PLC77.55m66.77m1.01bn0.0015.911.09--12.990.34250.34250.40075.010.0711--6.10--6.120.04246.330.042890.4928.6186.104.99----0.0861,961.78115.52-20.11113.07-21.81--5.39
ICG Enterprise Trust PLC90.29m57.58m1.01bn0.0017.990.629--11.190.66590.66591.0519.050.0533--26.96--3.4015.623.5615.7870.2892.6863.7790.12----0.053510.84-23.2017.65-27.3617.55--7.39
Syncona Ltd-182.60m-209.04m1.02bn0.00--0.6868-----0.2472-0.2472-0.21581.79-0.1117-------12.783.36-12.873.39--85.59--67.33----0.0011.46-312.87---733.83------
NB Private Equity Partners Ltd105.59m68.26m1.03bn--14.020.7003--9.711.161.161.7923.140.0714------4.6210.484.6510.6779.9887.8164.7474.38----0.06125.31-113.27---123.57----13.46
Oakley Capital Investments Ltd72.16m60.02m1.03bn0.0017.090.6723--14.210.26920.26920.32366.84----------16.71--16.84----83.1894.21--30.620.004.51-75.18-8.38-78.70-10.35--0.00
abrdn Private Equity Opprtntes Trust plc101.31m77.06m1.04bn0.0013.540.6905--10.280.39650.39650.52137.780.0635--5.14--4.8313.465.1813.8978.3392.9976.0690.83----0.077816.84-49.35-2.36-57.55-5.55--5.23
Biopharma Credit PLC135.73m108.45m1.12bn11.0010.840.8705--8.280.08270.08270.10371.030.0998--6.7912,339,090.007.978.488.108.5781.4083.1279.9081.71----0.0084.83-37.786.89-40.519.11--11.38
Murray Income Trust plc112.11m101.16m1.12bn0.0011.580.9077--10.030.71850.71850.7949.170.079--15.78--7.134.657.194.7092.9189.7890.2386.09----0.103979.25349.2525.43278.7928.35--2.43
The Scottish American Investment Co PLC145.87m132.77m1.13bn0.008.450.9534--7.730.59160.59160.64945.240.1168--34.13--10.639.1010.669.3193.9690.6891.0287.42----0.09227.62309.95--260.17----4.16
Fidelity Special Values PLC83.94m68.65m1.17bn0.0017.070.9746--13.960.16760.16760.20492.930.0703--6.68--5.754.215.804.2691.4286.7981.7980.42--12.520.0065.52286.81-0.1783225.06-1.40--11.97
Octopus Titan VCT PLC-289.71m-326.85m1.18bn0.00--0.8724-----0.191-0.191-0.16580.6821-0.2048-------23.10---23.13-------------240.440.00---196.05---247.40------
BlackRock World Mining Trust Plc-70.51m-99.84m1.24bn0.00--0.8455-----0.4162-0.4162-0.29276.07-0.04-------5.6711.27-6.4212.79--91.09--88.86----0.114445.13-125.12---139.02----13.23
Ruffer Investment Company Ltd-28.14m-43.50m1.25bn0.00--0.9324-----0.0799-0.0799-0.06172.85-0.0215-------3.333.13-3.373.17--76.70--72.97----0.0032.45-157.98---216.23----10.88
Data as of Mar 28 2024. Currency figures normalised to BioPharma Credit PLC's reporting currency: US Dollar USD

Institutional shareholders

39.03%Per cent of shares held by top holders
HolderShares% Held
Newton Investment Management Ltd.as of 31 Dec 2022136.38m10.88%
Adage Capital Management LPas of 31 Dec 2022130.85m10.44%
Sarasin & Partners LLPas of 31 Dec 202269.50m5.54%
FIL Investments Internationalas of 31 Jan 202429.77m2.38%
JPMorgan Chase Bank, NA (Investment Management)as of 01 Mar 202427.87m2.22%
Credit Suisse Asset Management (Schweiz) AGas of 01 Mar 202423.34m1.86%
Handelsbanken Wealth & Asset Management Ltd.as of 01 Mar 202422.41m1.79%
Evelyn Partners Investment Management LLPas of 01 Mar 202418.10m1.44%
Morgan Stanley Smith Barney LLC (Investment Management)as of 01 Mar 202416.63m1.33%
Waverton Investment Management Ltd.as of 01 Mar 202414.38m1.15%
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Data from 30 Jun 2023 - 29 Feb 2024Source: FactSet Research Systems Inc.
Data Provided by LSEG
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