HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

1. Industry viewpoints:
<ul>
<li>There is no doubt that the next step is to include biosimilar drugs in the volume-based purchase (VBP).</li>
<li>With the increasing prevalence of diabetes in China and the improvement of people's living and medical standards, the market size of diabetes drugs in China is expanding year by year.</li>
<li>As the penetration of interventional surgery continues to increase, the market of support devices across all interventional fields has a promising future.</li>
</ul>
2. Company news:
News about the new agreements from <a href="https://www.smartkarma.com/entities/beigene-ltd" target="_blank" data-smartkarma-citation="entities:27352:1" rel="noopener">BeiGene Ltd (6160 HK),</a><a href="https://www.smartkarma.com/entities/luye-pharma-group-ltd" target="_blank" data-smartkarma-citation="entities:488:1" rel="noopener">Luye Pharma (2186 HK)</a>, and <a href="https://www.smartkarma.com/entities/huadong-medicine-co-ltd-a" target="_blank" data-smartkarma-citation="entities:18522:1" rel="noopener">Huadong Medicine Co Ltd A (000963 CH)</a>. 
3. Market review: 
Last week, stock price for healthcare sector in A share decreased 2.83%, while CSI 300 decreased 0.5% over the same period of time.
4. Risk disclosure:
Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

1. Industry viewpoints:

There is no doubt that the next step is to include biosimilar drugs in the volume-based purchase (VBP).
With the increasing prevalence of diabetes in China and the improvement of people's living and medical standards, the market size of diabetes drugs in China is expanding year by year.
As the penetration of interventional surgery continues to increase, the market of support devices across all interventional fields has a promising future.

2. Company news:
News about the new agreements from BeiGene Ltd (6160 HK),Luye Pharma (2186 HK), and Huadong Medicine Co Ltd A (000963 CH). 
3. Market review: 
Last week, stock price for healthcare sector in A share decreased 2.83%, while CSI 300 decreased 0.5% over the same period of time.
4. Risk disclosure:
Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

China Healthcare Weekly (Feb.19) - VBP on Biosimilar Drugs, Poor Performance of Healthcare Sector

Equity Bottom-Up

Innovent Biologics Inc / Equity Bottom-Up

In recent years, <a href="https://www.smartkarma.com/entities/innovent-biologics-inc" target="_blank" data-smartkarma-citation="entities:27452:1" rel="noopener">Innovent Biologics Inc (1801 HK)</a> has launched a number of successful products, and the Company's investment value has significantly increased. Innovent leads the domestic counterparts in the layout of biological drugs and adhere to the development of internationally competitive products. The Company also establishes an excellent team to ensure the efficient implementation of the strategy. Meanwhile, Innovent is gradually transforming from a biotech company to a big pharma. With dozens of products in the pipeline, the Company is focusing on mainstream areas and is in the first echelon of clinical progress. In addition, with the rapid increase of sales after the listing of PD-1, its commercialization capability has also been recognized by the market.

In recent years, Innovent Biologics Inc (1801 HK) has launched a number of successful products, and the Company's investment value has significantly increased. Innovent leads the domestic counterparts in the layout of biological drugs and adhere to the development of internationally competitive products. The Company also establishes an excellent team to ensure the efficient implementation of the strategy. Meanwhile, Innovent is gradually transforming from a biotech company to a big pharma. With dozens of products in the pipeline, the Company is focusing on mainstream areas and is in the first echelon of clinical progress. In addition, with the rapid increase of sales after the listing of PD-1, its commercialization capability has also been recognized by the market. 

Innovent Biologics (1801 HK) - Have the Genes to Become a Big Pharma

Equity Capital Markets

Betta Pharmaceuticals   / Equity Capital Markets

In the past two years, especially in the year 2020, it seems to be a “fashion” for bio-pharmaceutical companies to list on the HKEX. Against this backdrop, <a href="https://www.smartkarma.com/entities/betta-pharmaceuticals-co-ltd" target="_blank" data-smartkarma-citation="entities:25883:1" rel="noopener">Betta Pharmaceuticals (300558 CH)</a> could also not miss this trend. Betta is a leading biopharmaceutical company committed to the R&amp;D of innovative therapies intended to address unmet medical needs including those in lung and other large cancer indications. On February 8th, 2021, the Company submitted to the HKEX the application for IPO.

In the past two years, especially in the year 2020, it seems to be a “fashion” for bio-pharmaceutical companies to list on the HKEX. Against this backdrop, Betta Pharmaceuticals (300558 CH) could also not miss this trend. Betta is a leading biopharmaceutical company committed to the R&amp;D of innovative therapies intended to address unmet medical needs including those in lung and other large cancer indications. On February 8th, 2021, the Company submitted to the HKEX the application for IPO. 

Pre-IPO Betta Pharmaceuticals - Insights on Products and Concerns

Joinn Laboratories China  Lt / Equity Capital Markets

On January 31st,2021, <a href="https://www.smartkarma.com/entities/joinn-laboratories-china-co-a" target="_blank" data-smartkarma-citation="entities:28273:1" rel="noopener">Joinn Laboratories China Co-A (603127 CH)</a> successfully passed the listing hearing of HKEX, and will become the fourth CRO company with "A+H" listing after <a href="https://www.smartkarma.com/entities/pharmaron-beijing-co-ltd" target="_blank" data-smartkarma-citation="entities:28428:1" rel="noopener">Pharmaron Beijing Co Ltd-H (3759 HK),</a><a href="https://www.smartkarma.com/entities/wuxi-apptec-co-ltd-bf4a1265-beef-48b6-b82d-29308426030f" target="_blank" data-smartkarma-citation="entities:27795:1" rel="noopener">WuXi AppTec Co. Ltd. (2359 HK)</a> and <a href="https://www.smartkarma.com/entities/hangzhou-tigermed-consulting-co-ltd-1008d609-73bd-4d76-8315-b29502a448ff" target="_blank" data-smartkarma-citation="entities:29212:1" rel="noopener">Hangzhou Tigermed Consulting (H) (3347 HK)</a>, further enhancing its global influence while broadening its financing channels. Meanwhile, JOINN recently released the performance announcement in 2020. The net income attributed to shareholders in 2020 is expected to be RMB303 million to RMB322 million, up 69.9% to 80.3% YoY. Net income after deducting non-recurring gains and losses could reach RMB 275 million to RMB293 million, up 77.5% to 89.6% YoY. The performance beat the market expectations.

On January 31st,2021, Joinn Laboratories China Co-A (603127 CH) successfully passed the listing hearing of HKEX, and will become the fourth CRO company with "A+H" listing after Pharmaron Beijing Co Ltd-H (3759 HK),WuXi AppTec Co. Ltd. (2359 HK) and Hangzhou Tigermed Consulting (H) (3347 HK), further enhancing its global influence while broadening its financing channels. Meanwhile, JOINN recently released the performance announcement in 2020. The net income attributed to shareholders in 2020 is expected to be RMB303 million to RMB322 million, up 69.9% to 80.3% YoY. Net income after deducting non-recurring gains and losses could reach RMB 275 million to RMB293 million, up 77.5% to 89.6% YoY. The performance beat the market expectations.

Pre-IPO Joinn Laboratories - The Future Performance Is Worth Looking Forward To

1. Industry viewpoints:<ul>
<li>An important document supporting the development of the traditional Chinese medicine industry has been released recently.</li>
<li>The market size of cardiac pacemakers in China is expected to reach RMB28 billion in the future.</li>
<li>China's health care products market is expected to maintain rapid growth in the future. </li>
</ul>2. Company news:News about the progress of new drugs and strategic collaboration from <a href="https://www.smartkarma.com/entities/innovent-biologics-inc" target="_blank" data-smartkarma-citation="entities:27452:1" rel="noopener">Innovent Biologics Inc (1801 HK)</a>, <a href="https://www.smartkarma.com/entities/sihuan-pharmaceutical-hldgs" target="_blank" data-smartkarma-citation="entities:33:1" rel="noopener">Sihuan Pharmaceutical Hldgs (460 HK)</a> and <a href="https://www.smartkarma.com/entities/jiangsu-hengrui-medicine-co-ltd" target="_blank" data-smartkarma-citation="entities:14128:1" rel="noopener">Jiangsu Hengrui Medicine (600276 CH).</a>3. Market review:Last week, stock price for healthcare sector in A share increased 6.31%, while CSI 300 increased 5.91% over the same period of time.4. Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

1. Industry viewpoints:
An important document supporting the development of the traditional Chinese medicine industry has been released recently.
The market size of cardiac pacemakers in China is expected to reach RMB28 billion in the future.
China's health care products market is expected to maintain rapid growth in the future. 
2. Company news:News about the progress of new drugs and strategic collaboration from Innovent Biologics Inc (1801 HK), Sihuan Pharmaceutical Hldgs (460 HK) and Jiangsu Hengrui Medicine (600276 CH).3. Market review:Last week, stock price for healthcare sector in A share increased 6.31%, while CSI 300 increased 5.91% over the same period of time.4. Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Chine Healthcare Weekly(Feb12)-TCM New Policy,Cardiac Pacemaker,Health Care Product,Innovent,Hengrui

China

Jiangsu Hengrui Medicine Co., Ltd. develops, manufactures, and markets a variety of medicines and medicine packing materials. The Company's products include anti-tumor medicines, pain-killers, anti-infection medicines, aluminum foil, and other related products.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Jiangsu Hengrui Medicine (600276 CH)

China Healthcare Weekly (Feb.19) - VBP on Biosimilar Drugs, Poor Performance of Healthcare Sector

This article analyzed the new document about VBP for biosimilar drugs, diabetes drugs market, support devices market in interventional fields,...

Xinyao (Criss) Wang

Innovent Biologics (1801 HK) - Have the Genes to Become a Big Pharma

This article mainly analyzed Innovent in terms of its current listed products (Sintilimab, Bevacizumab, Adalimumab and Rituximab), its pipeline,...

Xinyao (Criss) Wang

Pre-IPO Betta Pharmaceuticals - Insights on Products and Concerns

This article analyzed Betta Pharmaceutical in terms of its major products, pipeline, competitive landscape, and also include the concerns on the...

Xinyao (Criss) Wang

Pre-IPO Joinn Laboratories - The Future Performance Is Worth Looking Forward To

This article analyzed JOINN Laboratories in terms of market potential, orders in hand and newly signed orders, equity structure and talent pool,...

Xinyao (Criss) Wang

Chine Healthcare Weekly(Feb12)-TCM New Policy,Cardiac Pacemaker,Health Care Product,Innovent,Hengrui

This article analyzed industry viewpoints include new policy about traditional Chinese medicine, cardiac pacemakers market, health care products...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)