Biosensors

Biosensors: reports positive development in new test product, BioFreedom, a polymer-free drug-eluting stent. Company preparing the way for longer term product development and expansion. Near term, market likely to be focused on performance of newly listed peer, Microport (853 HK). Microport closed 36% above its HK$6.10 IPO price on its first day of trading. Microport trades at 28.6x FY10E PE, vs Biosensors 22.5x FYMar11E PE.