Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hk-inno-n-corp" target="_blank" data-smartkarma-citation="entities:33522:1" rel="noopener">HK inno.N (INNO KS)</a>'s new digestive disease drug K-CAB is the only drug of its class available in Korean market and has superior efficacy than the current standard of care. </li>
<li>K-CAB has already become the no. 1 drug in Korean digestive treatment market. HK inno plans to further strengthen its position by expanding global presence and increasing indication approvals.</li>
<li>From this year, HK inno has started distributing Merck’s seven vaccines, including its largest selling HPV vaccine 'Gardasil' in Korea. The company also has a rich pipeline of innovative drugs.</li>
</ul>



HK inno.N (INNO KS)'s new digestive disease drug K-CAB is the only drug of its class available in Korean market and has superior efficacy than the current standard of care. 
K-CAB has already become the no. 1 drug in Korean digestive treatment market. HK inno plans to further strengthen its position by expanding global presence and increasing indication approvals.
From this year, HK inno has started distributing Merck’s seven vaccines, including its largest selling HPV vaccine 'Gardasil' in Korea. The company also has a rich pipeline of innovative drugs.


HK Inno.N (INNO KS): On a Solid Growth Path with Blockbuster New Drug K-CAB

<p>During July–September <a href="https://www.smartkarma.com/entities/bnc-korea-co-ltd" target="_blank" data-smartkarma-citation="entities:34785:1" rel="noopener">BNC Korea (256840 KS) </a>shares jumped more than 8x to a touch a peak of approximately KRW 70,000 on a published media report that states its partner in Taiwan received emergency approval for a COVID-19 oral drug. With competitor Merck (MRK) reporting positive clinical trial results and seeking emergency use approval for its oral antiviral medicine for COVID-19, BNC Korea shares have been declining and corrected nearly 60% from its peak.</p>

During July–September BNC Korea (256840 KS) shares jumped more than 8x to a touch a peak of approximately KRW 70,000 on a published media report that states its partner in Taiwan received emergency approval for a COVID-19 oral drug. With competitor Merck (MRK) reporting positive clinical trial results and seeking emergency use approval for its oral antiviral medicine for COVID-19, BNC Korea shares have been declining and corrected nearly 60% from its peak.

BNC Korea (256840 KS): Oral COVID-19 Treatment No More Remains a Catalyst

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>The Hang Seng, EURO STOXX 50, MSCI ACWI ex-US, and MSCI EAFE display bearish short-term inflections. Additionally, 10-year yields in the US and Germany are breaking down below key support. These deteriorating market dynamics raise concerns of a deeper pullback, however other indicators remain largely positive. As a result, we continue to see a mixed, but overall constructive market. Actionable themes highlighted in today's report include Health Care and Real Estate.</p>

The Hang Seng, EURO STOXX 50, MSCI ACWI ex-US, and MSCI EAFE display bearish short-term inflections. Additionally, 10-year yields in the US and Germany are breaking down below key support. These deteriorating market dynamics raise concerns of a deeper pullback, however other indicators remain largely positive. As a result, we continue to see a mixed, but overall constructive market. Actionable themes highlighted in today's report include Health Care and Real Estate.

Global Equity Strategy: Mixed Market Environment Continues As Yields Break Down

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Genor Biopharma Holdings  / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/genor-biopharma" target="_blank" data-smartkarma-citation="entities:29201:1" rel="noopener">Genor Biopharma (0883276D CH)</a> aka JHBP Holdings is a biopharmaceutical company focusing on developing and commercializing oncology and autoimmune drugs. Its drug candidates encompass the top three oncology targets and five out of the ten bestselling drugs globally. Genor is backed by Hillhouse Capital, Temasek and <a href="https://www.smartkarma.com/entities/hangzhou-tigermed-consulting-h" target="_blank" data-smartkarma-citation="entities:29212:1" rel="noopener">Hangzhou Tigermed Consulting (H) (3347 HK)</a>. It is seeking a Hong Kong IPO to raise around $300 million, according to press reports. </p><div class="content-highlight"><p>Genor has a broad drug pipeline with significant near-term revenue potential from as early as 2021. Overall, we believe that the prospectus for Genor’s late-stage drug assets is favourable. </p></div>

Genor Biopharma (0883276D CH) aka JHBP Holdings is a biopharmaceutical company focusing on developing and commercializing oncology and autoimmune drugs. Its drug candidates encompass the top three oncology targets and five out of the ten bestselling drugs globally. Genor is backed by Hillhouse Capital, Temasek and Hangzhou Tigermed Consulting (H) (3347 HK). It is seeking a Hong Kong IPO to raise around $300 million, according to press reports. Genor has a broad drug pipeline with significant near-term revenue potential from as early as 2021. Overall, we believe that the prospectus for Genor’s late-stage drug assets is favourable. 

JHBP Holdings (Genor Biopharma) IPO Initiation: Hunting for a Cure

<p><a href="https://www.smartkarma.com/entities/pharmasgp-gmbh" target="_blank" data-smartkarma-citation="entities:29009:1" rel="noopener">PharmaSGP (1780644D GR)</a> is a pure-play consumer health company with a broad portfolio of leading chemical-free non-prescription pharmaceuticals sold over the counter (OTC) and other healthcare products. PharmaSGP has launched an IPO on the Frankfurt Stock Exchange at a price range of €31.50-36.50 per share. The offer, which a purely a secondary raise, will raise gross proceeds of €304.3-352.6 million for the selling shareholders. The book-building process is expected to end on 18 June, with trading expected to commence on 19 June.</p><div class="content-highlight"><p>PharmaSGP is a play on the chemical-free OTC market in Continental Europe which is growing due to the ageing of the population, a trend towards self-medication and the growing demand for natural remedies. Overall, PharmaSGP offers strong fundamentals at an attractive valuation, in our view.</p></div>

PharmaSGP (1780644D GR) is a pure-play consumer health company with a broad portfolio of leading chemical-free non-prescription pharmaceuticals sold over the counter (OTC) and other healthcare products. PharmaSGP has launched an IPO on the Frankfurt Stock Exchange at a price range of €31.50-36.50 per share. The offer, which a purely a secondary raise, will raise gross proceeds of €304.3-352.6 million for the selling shareholders. The book-building process is expected to end on 18 June, with trading expected to commence on 19 June.PharmaSGP is a play on the chemical-free OTC market in Continental Europe which is growing due to the ageing of the population, a trend towards self-medication and the growing demand for natural remedies. Overall, PharmaSGP offers strong fundamentals at an attractive valuation, in our view.

PharmaSGP IPO Initiation: Potent Medicine

Germany

Merck KGaA is a global pharmaceutical and chemicals company. The Company researches drugs in the areas oncology and neurodegenerative as well as autoimmune and inflammatory diseases. Also, it markets cardiovascular, fertility, endocrinology, and over-the-counter products as well as products for flat screens and the pharmaceutical, food, cosmetics, packaging, and coatings.

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Merck KGaA (MRK GY)

HK Inno.N (INNO KS): On a Solid Growth Path with Blockbuster New Drug K-CAB

K-CAB has already become the no. 1 drug in Korean digestive treatment market. Thus far, K-CAB has marketing partnerships with 24 countries.

Tina Banerjee

BNC Korea (256840 KS): Oral COVID-19 Treatment No More Remains a Catalyst

In-licensed oral COVID-19 treatment no longer remains a catalyst after competitor's encouraging clinical trial results. Other oral treatments are...

Tina Banerjee

Global Equity Strategy: Mixed Market Environment Continues As Yields Break Down

The Hang Seng, EURO STOXX 50, MSCI ACWI ex-US, and MSCI EAFE display bearish short-term inflections and 10-year yields in the US and Germany are...

Vermilion Research

JHBP Holdings (Genor Biopharma) IPO Initiation: Hunting for a Cure

$ Genor Biopharma is a biopharmaceutical company focusing on developing and commercializing oncology and autoimmune drugs. Its drug candidates...

Arun George

PharmaSGP IPO Initiation: Potent Medicine

PharmaSGP (1780644D GR) is a pure-play consumer health company with a broad portfolio of leading chemical-free non-prescription pharmaceuticals...

Arun George

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