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Mattias Häggblom

Mattias Häggblom

Research Analyst at Handelsbanken Fonder Ab

Stockholm, SE

Mattias Häggblom is an Equity Research Analyst and Sector Head for Life Science at Handelsbanken, specializing in health care and life science sector research, with coverage focused on companies including Demant A/S, WILLF, and ALIF.B. His investment calls have achieved a 50% success rate over the last year, although his average return per rating currently stands at -2.8%, with notable profitability shown in specific short trades such as a +17.9% return on WILLF. Häggblom joined Handelsbanken in 2007 and has led coverage of major Nordic and UK/US market players, building a reputation for incisive life science insights after early career experience in financial research. He is recognized for his in-depth sector expertise and is a publicly listed analyst on platforms such as TipRanks, with credentials available through Handelsbanken and industry media, although FINRA or specific securities licenses are not independently listed.

Mattias Häggblom's questions to ASTRAZENECA (AZN) leadership

Question · Q3 2025

Mattias Häggblom asked why the U.K. patent invalidation for Forxiga would not encourage similar generic challenges elsewhere in Europe. He also inquired about what AstraZeneca's team would study in Merck's upcoming oral PCSK9 inhibitor data to understand its clinical profile and compare it with Laroprovstat.

Answer

CEO Pascal Soriot clarified that the U.K. patent issue is due to a very specific U.K. law. EVP of Biopharmaceuticals R&D Sharon Barr discussed Laroprovstat's profile (true small molecule, no solubility enhancers/fasting, attractive for monotherapy/combination, easily combines with statins) and plans to study Merck's data for differentiation.

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Question · Q3 2025

Mattias Häggblom asked why the UK patent invalidation and generic launch for Forxiga would not encourage similar challenges elsewhere in Europe and what made the UK situation unique. He also asked Sharon Barr what specific aspects of Merck's oral PCSK9 inhibitor data AstraZeneca would study for comparison with its own Laroprobstat.

Answer

CEO Pascal Soriot clarified that the UK situation for Forxiga was due to a very specific UK law not applicable elsewhere. EVP of Biopharmaceuticals R&D Sharon Barr emphasized Laroprobstat's differentiation as a true small molecule not requiring solubility enhancers or fasting, offering an attractive patient profile. She stated the team would study Merck's data to understand its clinical profile and identify further differentiation opportunities.

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Question · Q1 2025

Mattias Häggblom asked about the likelihood of the pharmaceutical industry uniting its messaging on pricing and tariffs, and inquired where AstraZeneca's internal models might deviate from consensus regarding its $80 billion revenue target for 2030.

Answer

CEO Pascal Soriot expressed his belief that the industry is coming together to address tariffs and the innovation funding imbalance between the U.S. and Europe. CFO Aradhana Sarin suggested that areas of potential upside versus consensus for the 2030 target include the biopharma and rare disease portfolios (e.g., respiratory, CVRM, oral PCSK9) and the company's proprietary ADC and cell therapy pipelines, which may not be fully valued by the market.

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Question · Q4 2024

Mattias Häggblom of Handelsbanken inquired about the oral GLP-1 program's trial duration relative to FDA guidance and the oral PCSK9 inhibitor, asking for expectations for upcoming data, Phase III timelines, and its competitive positioning against Merck's asset.

Answer

Sharon Barr, EVP of BioPharmaceuticals R&D, expressed confidence in the ongoing oral GLP-1 trials, which are enrolling well. For the oral PCSK9, she anticipates the upcoming Phase IIb data will be broadly in line with strong Phase I results. She highlighted its differentiation as a true small molecule with no food effect, making it suitable for combinations. CEO Pascal Soriot added that having two companies in the oral PCSK9 market will help expand access globally.

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Question · Q2 2024

Mattias Häggblom asked if the Inflation Reduction Act (IRA) has led AstraZeneca to cancel or alter development plans for small molecule assets and how it has impacted business development strategy.

Answer

CEO Pascal Soriot acknowledged the IRA challenges small molecules but noted the company's strategic shift towards biologics was already underway. He explained the main impact is that for certain small molecules, the company may have to delay U.S. filings for initial, smaller indications to avoid starting the nine-year negotiation clock prematurely, an issue they are advocating to fix.

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Mattias Häggblom's questions to GNNDY leadership

Question · Q1 2024

Asked if the DKK 600 million savings target could be conservative given the strong start, and why the full-year free cash flow outlook wasn't raised after a significant Q1 beat.

Answer

The company is committed to the DKK 600 million synergy target for now and will reassess after crossing the DKK 400 million milestone for this year. For cash flow, the guidance remains 'more than DKK 700 million,' and while Q1 was a positive start that supports this outlook, the formal guidance is not being changed at this time.

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Question · Q3 2023

Asked for a precise definition of 'midterm' for GN Audio's 20%+ margin target, given consensus estimates for 2026 are lower. He also inquired about expectations for working capital release and cash generation in Q4.

Answer

The company has not set an exact date for the 'midterm' Audio margin target, stating it depends on the market returning to structural growth rates. For Q4, they anticipate a positive cash flow supported by DKK 200-300 million in inventory reductions and a release from high receivables at the end of Q3.

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