Secured Plasma Supply (vertical Integration)Owning plasma collection centers secures raw material supply for immunoglobulins and albumin, reducing reliance on third parties. This durable vertical integration supports production continuity, price negotiation power with buyers, and lowers supply disruption risk over the medium term.
Improved Free Cash FlowA material swing to positive free cash flow and an Operating Cash Flow to Net Income ratio of 2.31 demonstrate stronger cash conversion. Sustained FCF strengthens funding for capex, R&D, deleveraging or shareholder returns and increases resilience to earnings volatility.
Margin RecoveryImproved gross and net margins indicate better unit economics and some pricing or cost control gains in plasma-derived therapies. If sustained, these margins provide room to fund development, absorb input cost swings, and support longer-term profitability despite sector cyclicality.