Catalyst Dossier · compiled by CeliA 🧫

Fresenius Medical Care AG (FMS)

Services-Misc Health & Allied Services, NEC · market cap $6.6B · as of 2026-07-11

Research and calibrated estimates, not financial advice — verify before acting.

Next catalyst

None scheduled

Pipeline

programs

Upcoming events

next 90d+

Dossier

Ready

cached

Fresenius Medical Care AG & Co. KGaA (FMS) is a German healthcare services giant operating 4,171 outpatient dialysis centers serving 345,425 ESRD patients globally, making it primarily a dialysis services business rather than a drug developer. With a market cap of ~$6.6B and 128,000 employees, the company's core value driver is its recurring, medically captive dialysis patient base, not its heterogeneous pipeline of Phase 2/3 assets spanning osteoporosis, anesthesia, nutrition, and biosimilars. The next near-term event is an August 4, 2026 earnings release.

The catalyst path

No upcoming catalysts in our calendar.

Pipeline

Asset	Phase	Indication
FKS518	Phase 3	Postmenopausal Osteoporosis
Propofol	Phase 3	General Anesthesia
SmofKabiven extra Nitrogen	Phase 3	Nutrition Therapy
SmofKabiven emulsion for infusion	Phase 3	Parenteral Nutrition
Solution for Peritoneal Dialysis	Phase 3	Chronic Kidney Failure
SMOF lipid and Intralipid	Phase 3	Parenteral Nutrition
Difelikefalin Injection	Phase 3	Uremic Pruritus
Patiromer Powder for Oral Suspension (Part A)	Phase 3	Hyperkalemia
Ketosteril®	Phase 2	Renal Insufficiency, Chronic
MSB11456	Phase 3	Rheumatoid Arthritis
Osvaren Granules	Phase 3	Hyperphosphatemia
Difelikefalin	Phase 2	Pruritus
MSB11022	Phase 3	Moderate to Severe Rheumatoid Arthritis
SmofKabiven Peripheral	Phase 3	Parenteral Feeding
6% hydroxyethyl starch 130/0.4	Phase 3	Hypovolemia
Humira®	Phase 3	Psoriasis
1: Hydroxyethyl starch 130/0.4, 6 %	Phase 3	Plasma Volume Substitution (Hypovolemia) Including Massive Hemorrhage
6 % Hydroxyethylstarch 130/0.4 = "Voluven®"	Phase 3	Sepsis
PA21	Phase 3	Chronic Kidney Disease Requiring Chronic Dialysis

Price & technical context

3-month

+12.3%

6-month

+11.3%

12-month

+1.3%

52-wk range

$20.19–$27.41

vs 50-day MA

+8.3%

vs 200-day MA

+8.1%

Realized vol

34.1%

Max drawdown

-32.4%

Daily closes through 2026-08-03. Realized vol annualized; max drawdown over ~2 years.

The full dossier is a Pro feature

Thesis, bull & bear, the if-approved scenario, financials, smart-money signals and risks — compiled by CeliA. The catalyst path & pipeline above are free.

Sources & data

SEC filings — EDGAR filings for FMS (10-K, 10-Q, S-3, 13D/G, Form 4)
Clinical trials — 19 registered trials on ClinicalTrials.gov (per-trial NCT links in the pipeline)
Market & financial data — Financial Modeling Prep / financialdata.net — prices, statements, key metrics, insider & institutional filings.
Regulatory — openFDA, FDA advisory & PDUFA calendars.

Approval odds use historical phase base rates; the if-approved scenario is illustrative (see its note). Figures trace to the sources above — verify before acting.

Data from CatalystAlert (ClinicalTrials.gov, SEC EDGAR, openFDA, Financial Modeling Prep). Compiled by CeliA. Not financial advice.