Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>Daiichi Sankyo received EU approval for Enhertu in breast cancer. Kaken Pharmaceutical in-licensed hereditary angioedema drug candidate sebetralstat for Japan from KalVista Pharmaceuticals for an upfront payment of $11M.</li>
<li>ABL Bio signed £2B+ outlicensing licensing deal with GSK to develop novel medicines for neurodegenerative diseases. Samsung Biologics launched Epysqli, a biosimilar referencing Soliris in the U.S.</li>
<li>U.S. court ruled in favor of Sun Pharma regarding the launch of alopecia areata drug Leqselvi. Mayne Pharma has been involved in a legal proceeding in U.S., brought by TherapeuticsMD.</li>
</ul>


Daiichi Sankyo received EU approval for Enhertu in breast cancer. Kaken Pharmaceutical in-licensed hereditary angioedema drug candidate sebetralstat for Japan from KalVista Pharmaceuticals for an upfront payment of $11M.
ABL Bio signed £2B+ outlicensing licensing deal with GSK to develop novel medicines for neurodegenerative diseases. Samsung Biologics launched Epysqli, a biosimilar referencing Soliris in the U.S.
U.S. court ruled in favor of Sun Pharma regarding the launch of alopecia areata drug Leqselvi. Mayne Pharma has been involved in a legal proceeding in U.S., brought by TherapeuticsMD.


APAC Healthcare Weekly (April 13)- Daiichi Sankyo, Kaken, ABL Bio, Samsung Biologics, Sun Pharma

Chief Economist, Aletheia Capital

Dr. Jim Walker

Chief Economist

Independent and original Asian investment research

Aletheia Capital

Aletheia Capital (HK) Ltd. (previously known as Asianomics) combines the extensive knowledge of its experienced team with technology and regulatory changes to disrupt Global Markets business in Asia. The firm is completely independent with no conflicts of interest either on Investment Banking advisory or Capital Markets execution.

Macroeconomics

<ul><li data-start="0" data-end="99">India and the Philippines cut interest rates, supporting domestic growth amid easing inflation.</li><li data-start="100" data-end="194">US inflation remains sticky, limiting chances of Fed rate cuts despite political pressure.</li><li data-start="195" data-end="298">US-China tensions escalate with new tariffs, stoking geopolitical risks and Taiwan conflict concerns.</li></ul>

India and the Philippines cut interest rates, supporting domestic growth amid easing inflation.US inflation remains sticky, limiting chances of Fed rate cuts despite political pressure.US-China tensions escalate with new tariffs, stoking geopolitical risks and Taiwan conflict concerns.

Walker’s Weekly: Dr. Jim's Summary of Key Global Macro Developments - 11 April 2025

External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Leading full-service brokerage firm in Vietnam. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

TNG Investment & Trading Jsc / Equity Bottom-Up

TNG Investment & Trading JSC manufactures and exports apparel.

<ul><li>TNG Investment and Trading JSC (TNG VN) is one of the fastest-growing garment companies in Vietnam, with a bold financial structure, and is one of Vietnam’s top garment exporters.</li><li>The company has a diversified customer portfolio that encompasses many key Vietnam textile export markets.</li><li>TNG’s key business is CMT garment production, and the company possesses over 300 manufacturing lines in 18 branches, based in Thai Nguyen province, Vietnam.</li></ul><div class="content-highlight">Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</div>

TNG Investment and Trading JSC (TNG VN) is one of the fastest-growing garment companies in Vietnam, with a bold financial structure, and is one of Vietnam’s top garment exporters.The company has a diversified customer portfolio that encompasses many key Vietnam textile export markets.TNG’s key business is CMT garment production, and the company possesses over 300 manufacturing lines in 18 branches, based in Thai Nguyen province, Vietnam.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

TNG Investment and Trading JSC (TNG VN) - Opportunity in Chaos

External broker reports(aggregated public sources), Rong Viet Securities

Rong Viet Securities

RongViet is proud to have a research team of experienced and trustworthy people whose works are at all time governed by the codes of objectivity, integrity and client's best interest.

Looking at relevant, up-to-date information from multiple perspectives with the support of intensive data and analyses, RongViet's research is effective, practical and widely used for investing purposes.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Khang Dien House Trading and Investment JSC / Equity Bottom-Up

Khang Dien House Trading and Investment JSC develops real estate and offers construction services.

Khang Dien House Trading and Investment JSC (KDH VN)

Khang Dien House Trading and Investment JSC

<ul><li>In our cautious view, the current market price does not fully reflect the long-term growth prospects and the company’s position.</li><li>We estimate the fair value of KDH to be VND 42,700, equivalent to the estimated P/B in 2025 of 1.5x.</li><li>KDH is one of the few real estate enterprises with a large land bank in HCMC (~650 hectares), mainly concentrated in strategic areas such as Thu Duc, Binh Chanh, Binh Tan – areas that are benefiting strongly from the process of urbanization and investment in regional infrastructure.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In our cautious view, the current market price does not fully reflect the long-term growth prospects and the company’s position.We estimate the fair value of KDH to be VND 42,700, equivalent to the estimated P/B in 2025 of 1.5x.KDH is one of the few real estate enterprises with a large land bank in HCMC (~650 hectares), mainly concentrated in strategic areas such as Thu Duc, Binh Chanh, Binh Tan – areas that are benefiting strongly from the process of urbanization and investment in regional infrastructure.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

KDH - Potential Land Fund – Sustainable Growth in the Long Term

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>Crude oil prices dropped below $60 as OPEC+ boosted output and China retaliated with tariffs, sparking global trade and demand concerns.</li>
<li>For India, every $10/bbl fall can cut CAD by 0.5% of GDP, ease inflation by 0.3%, but risks lower fiscal revenue due to fuel tax dependence.</li>
<li>While beneficial short-term, India must prepare for volatility—by diversifying energy, insulating fiscal math, and enhancing trade resilience amidst rising geopolitical uncertainty.</li>
</ul>


Crude oil prices dropped below $60 as OPEC+ boosted output and China retaliated with tariffs, sparking global trade and demand concerns.
For India, every $10/bbl fall can cut CAD by 0.5% of GDP, ease inflation by 0.3%, but risks lower fiscal revenue due to fuel tax dependence.
While beneficial short-term, India must prepare for volatility—by diversifying energy, insulating fiscal math, and enhancing trade resilience amidst rising geopolitical uncertainty.


Crude Oil Below $ 60: OPEC’s Pivot, China’s Tariffs, and the New Oil Equation

Vietnam
Insights on Vietnam

APAC Healthcare Weekly (April 13)- Daiichi Sankyo, Kaken, ABL Bio, Samsung Biologics, Sun Pharma

Daiichi got EU approval for Enhertu. Kaken Pharma signed inlicensing deal, while ABL stuck outlicensing deal. Sun Pharma's Leqselvi is now free to...

Tina Banerjee

Walker’s Weekly: Dr. Jim's Summary of Key Global Macro Developments - 11 April 2025

India and the Philippines cut interest rates, supporting domestic growth amid easing inflation. US inflation remains sticky, limiting chances of...

Dr. Jim Walker

TNG Investment and Trading JSC (TNG VN) - Opportunity in Chaos

TNG Investment and Trading JSC (TNG VN) is one of the fastest-growing garment companies in Vietnam, with a bold financial structure, and is one of...

Mirae Asset Securities

KDH - Potential Land Fund – Sustainable Growth in the Long Term

In our cautious view, the current market price does not fully reflect the long-term growth prospects and the company’s position.

Rong Viet Securities

Crude Oil Below $ 60: OPEC’s Pivot, China’s Tariffs, and the New Oil Equation

Crude oil price drop below $60 impacts global trade and demand; India benefits short-term but must prepare for volatility by diversifying energy...

Nimish Maheshwari

APAC Healthcare Weekly (April 13)- Daiichi Sankyo, Kaken, ABL Bio, Samsung Biologics, Sun Pharma

Daiichi got EU approval for Enhertu. Kaken Pharma signed inlicensing deal, while ABL stuck outlicensing deal. Sun Pharma's Leqselvi is now free to...

Tina Banerjee

Walker’s Weekly: Dr. Jim's Summary of Key Global Macro Developments - 11 April 2025

India and the Philippines cut interest rates, supporting domestic growth amid easing inflation. US inflation remains sticky, limiting chances of...

Dr. Jim Walker

TNG Investment and Trading JSC (TNG VN) - Opportunity in Chaos

TNG Investment and Trading JSC (TNG VN) is one of the fastest-growing garment companies in Vietnam, with a bold financial structure, and is one of...

Mirae Asset Securities

KDH - Potential Land Fund – Sustainable Growth in the Long Term

In our cautious view, the current market price does not fully reflect the long-term growth prospects and the company’s position.

Rong Viet Securities

Crude Oil Below $ 60: OPEC’s Pivot, China’s Tariffs, and the New Oil Equation

​Crude oil price drop below $60 impacts global trade and demand; India benefits short-term but must prepare for volatility by diversifying energy...

Nimish Maheshwari

Crude oil price drop below $60 impacts global trade and demand; India benefits short-term but must prepare for volatility by diversifying energy...