HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

<ul>
<li>While the final results of 2021 national medical insurance negotiation have yet to be announced, here are what's circulating in the market.</li>
<li>The centralized procurement on spring coil in Hebei province would start soon, which means that the centralized procurement in the field of neuro-intervention in China has officially begun.</li>
<li>There is a phenomenon of "valuation upside down" in the primary and secondary market of healthcare investment, so we recommend investors to be more cautious and rational.</li>
</ul>


While the final results of 2021 national medical insurance negotiation have yet to be announced, here are what's circulating in the market.
The centralized procurement on spring coil in Hebei province would start soon, which means that the centralized procurement in the field of neuro-intervention in China has officially begun.
There is a phenomenon of "valuation upside down" in the primary and secondary market of healthcare investment, so we recommend investors to be more cautious and rational.


China Healthcare Weekly (Nov.12)-Medical Insurance Negotiation,Spring Coil VBP,Valuation Upside Down

Equity Capital Markets

CANbridge Pharmaceuticals / Equity Capital Markets

Since June this year, there have been more and more topics about rare diseases in China. On June 30, Shaanxi Provincial Medical Insurance Bureau included 7 drugs for rare diseases such as Gaucher disease, Fabry disease and others into Shaanxi Provincial medical insurance coverage. On July 5, Jiangsu Province also added five rare diseases including Pompe disease, Spinal Muscular Atrophy and others to its medical insurance coverage. As rare diseases gradually attract government’s attention, related companies would also come into people’s vision. On June 30, <a href="https://www.smartkarma.com/entities/canbridge-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:33783:1" rel="noopener">CANbridge Pharmaceuticals (CAN HK)</a>, a leading China-based, global rare disease-focused biopharmaceutical company, submitted its prospectus to the HKEX. This insight mainly analyzed the industry characteristics, the commercialized products, the pipeline, and the concerns of the Company.

Since June this year, there have been more and more topics about rare diseases in China. On June 30, Shaanxi Provincial Medical Insurance Bureau included 7 drugs for rare diseases such as Gaucher disease, Fabry disease and others into Shaanxi Provincial medical insurance coverage. On July 5, Jiangsu Province also added five rare diseases including Pompe disease, Spinal Muscular Atrophy and others to its medical insurance coverage. As rare diseases gradually attract government’s attention, related companies would also come into people’s vision. On June 30, CANbridge Pharmaceuticals (CAN HK), a leading China-based, global rare disease-focused biopharmaceutical company, submitted its prospectus to the HKEX. This insight mainly analyzed the industry characteristics, the commercialized products, the pipeline, and the concerns of the Company.

Pre-IPO CANbridge Pharmaceuticals - Insights on Products, Pipeline and the Concerns

Brii Biosciences / Equity Capital Markets

On April 8, 2021, <a href="https://www.smartkarma.com/entities/brii-biosciences" target="_blank" data-smartkarma-citation="entities:33014:1" rel="noopener">Brii Biosciences (1621985D US) </a>submitted its listing application to the main board of the Hong Kong Stock Exchange. Since June 2018, the Company has raised several rounds of funding with approximately US$414 million in total. In March of this year, Brii completed a US$155 million Series C financing with a post-financing valuation of US$1.455 billion. The founding investors include Boyu, 6 Dimensions, ARCH, Sequoia China, Yunfeng and BluePool, which are all well-known healthcare and biotech funds. Compared with the financing of tumor immunity and cell therapy projects, it is less common for large-scale financing in the field of anti-infection. So what makes the Company so special that it attracts so many star investors? This insight mainly analyzed the key product candidates and related concerns.

On April 8, 2021, Brii Biosciences (1621985D US) submitted its listing application to the main board of the Hong Kong Stock Exchange. Since June 2018, the Company has raised several rounds of funding with approximately US$414 million in total. In March of this year, Brii completed a US$155 million Series C financing with a post-financing valuation of US$1.455 billion. The founding investors include Boyu, 6 Dimensions, ARCH, Sequoia China, Yunfeng and BluePool, which are all well-known healthcare and biotech funds. Compared with the financing of tumor immunity and cell therapy projects, it is less common for large-scale financing in the field of anti-infection. So what makes the Company so special that it attracts so many star investors? This insight mainly analyzed the key product candidates and related concerns.

Pre-IPO Brii Biosciences - Insights on Pipeline and Related Concerns

First of all, Merry Christmas and Happy New Year!
1. Industry viewpoints:
<ul>
<li>While we are still waiting for the official results of the volume-based purchase (VBP) negotiations in 2020, let’s take a further look at the competitive landscape of PD-1/L1 in China.</li>
<li>The regenerative medical implant devices would be a development trend of medical implant devices in the future.</li>
<li>Affected by the centralized procurement policy in China, the growth rate of high-value medical consumables market is expected to slow year by year.</li>
</ul>
2. Company news:
News about the progress of new drugs from <a href="https://www.smartkarma.com/entities/alphamab-oncology" target="_blank" data-smartkarma-citation="entities:28213:1" rel="noopener">Alphamab Co Ltd (9966 HK)</a>, <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/ascletis-pharma-inc" target="_blank" data-smartkarma-citation="entities:27265:1" rel="noopener">Ascletis Pharma Inc (1672 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 1.1%, while CSI 300 increased 0.84% over the same period of time.
4. Risk Disclosure:
Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

First of all, Merry Christmas and Happy New Year!
1. Industry viewpoints:

While we are still waiting for the official results of the volume-based purchase (VBP) negotiations in 2020, let’s take a further look at the competitive landscape of PD-1/L1 in China.
The regenerative medical implant devices would be a development trend of medical implant devices in the future.
Affected by the centralized procurement policy in China, the growth rate of high-value medical consumables market is expected to slow year by year.

2. Company news:
News about the progress of new drugs from Alphamab Co Ltd (9966 HK), Innovent Biologics Inc (1801 HK), Ascletis Pharma Inc (1672 HK) and Jiangsu Hengrui Medicine (600276 CH).
3. Market review:
Last week, stock price for healthcare sector in A share increased 1.1%, while CSI 300 increased 0.84% over the same period of time.
4. Risk Disclosure:
Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

1. Industry viewpoints:<ul>
<li>Last week, the negotiations of volume-based purchase 2020 came to a close, and the bidding of PD-1/L1 was the most eye-catching.</li>
<li>In the future, with the rapid release of radiotherapy equipment in China, the penetration rate of radiotherapy is expected to be accelerated.</li>
<li>The use of traditional Chinese medicine in hospital is facing severe challenges.</li>
</ul>2. Company news:News about the updated progress of new drugs and cooperation from <a href="https://www.smartkarma.com/entities/ascletis-pharma-inc" target="_blank" data-smartkarma-citation="entities:27265:1" rel="noopener">Ascletis Pharma Inc (1672 HK)</a>, <a href="https://www.smartkarma.com/entities/harbour-biomed-holdings-limited" target="_blank" data-smartkarma-citation="entities:29717:1" rel="noopener">Harbour Biomed (2142 HK)</a> and <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>.3. Market review:Last week, stock price for healthcare sector in A share increased 4.25%, while CSI 300 increased 2.26% over the same period of time.4. Risk Disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

1. Industry viewpoints:
Last week, the negotiations of volume-based purchase 2020 came to a close, and the bidding of PD-1/L1 was the most eye-catching.
In the future, with the rapid release of radiotherapy equipment in China, the penetration rate of radiotherapy is expected to be accelerated.
The use of traditional Chinese medicine in hospital is facing severe challenges.
2. Company news:News about the updated progress of new drugs and cooperation from Ascletis Pharma Inc (1672 HK), Harbour Biomed (2142 HK) and Luye Pharma (2186 HK).3. Market review:Last week, stock price for healthcare sector in A share increased 4.25%, while CSI 300 increased 2.26% over the same period of time.4. Risk Disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

China

Ascletis Pharma Inc. operates as a biotechnology company. The Company develops and discovers anti-viral drugs to address unmet medical needs in anti-viral, cancer, and fatty liver disease. Ascletis Pharma offers its services worldwide.

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Ascletis Pharma Inc (1672 HK)

China Healthcare Weekly (Nov.12)-Medical Insurance Negotiation,Spring Coil VBP,Valuation Upside Down

This insight mainly analyzed some news circulating about 2021 national medical insurance negotiation results, VBP on spring coil in Hebei and...

Xinyao (Criss) Wang

Pre-IPO CANbridge Pharmaceuticals - Insights on Products, Pipeline and the Concerns

This article mainly analyzed CANbridge Pharmaceuticals in terms of its commercialized products, the pipeline, and the concerns, and the outlook of...

Xinyao (Criss) Wang

China Healthcare Weekly (Dec.25)

This article analyzed healthcare industry viewpoints such as competitive landscape of PD-1/L1 in China, news of Alphamab, Hengrui, Innovent and...

Xinyao (Criss) Wang

China Healthcare Weekly (Dec.18)

The article analyzed the news about the negotiation result of PD-1/L1 in China VBP, industry viewpoints about radiotherapy and traditional Chinese...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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China Healthcare Weekly (Nov.12)-Medical Insurance Negotiation,Spring Coil VBP,Valuation Upside Down

This insight mainly analyzed some news circulating about 2021 national medical insurance negotiation results, VBP on spring coil in Hebei and...

Xinyao (Criss) Wang

Pre-IPO CANbridge Pharmaceuticals - Insights on Products, Pipeline and the Concerns

This article mainly analyzed CANbridge Pharmaceuticals in terms of its commercialized products, the pipeline, and the concerns, and the outlook of...

Xinyao (Criss) Wang

Pre-IPO Brii Biosciences - Insights on Pipeline and Related Concerns

This insight mainly analyzed the core product candidates of Brii Biosciences in the pipeline (HBV, COVID-19 products and others), the competitive...

Xinyao (Criss) Wang

China Healthcare Weekly (Dec.25)

This article analyzed healthcare industry viewpoints such as competitive landscape of PD-1/L1 in China, news of Alphamab, Hengrui, Innovent and...

Xinyao (Criss) Wang

China Healthcare Weekly (Dec.18)

The article analyzed the news about the negotiation result of PD-1/L1 in China VBP, industry viewpoints about radiotherapy and traditional Chinese...

Xinyao (Criss) Wang