Tweedy, Browne International Value Fund on bioMérieux SA
Thesis
Tweedy, Browne established a new position in bioMérieux, a French family-controlled biotechnology company. The company produces in vitro diagnostics, including software, instrument systems, and chemical reagents used by clinical laboratories to test for infectious diseases. The managers believed the shares were trading below a conservative estimate of intrinsic value. They also viewed bioMérieux as financially strong with a runway for future growth.
“were financially strong, and had runways for future growth.”