Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

Thematic (Sector/Industry)

<ul><li>Baby food records retail value growth and retail volume growth of 5% in 2017, reaching VND32.3 trillion and 108,000 tonnes</li><li>The price ceiling for milk formula is officially lifted on 1 April 2017</li><li>Liquid growing-up milk formula posts the strongest value growth of 2017, with a 15% sales increase</li><li>The average unit price of baby food increases in 2017</li><li>Vietnam Dairy Products JSC (Vinamilk) remains the leader in 2017, with a value share of 28%</li><li>Baby food is expected to record a value CAGR of 2% at constant 2017 prices over the forecast period, and reach VND36.3 trillion in 2022</li></ul>

Baby food records retail value growth and retail volume growth of 5% in 2017, reaching VND32.3 trillion and 108,000 tonnesThe price ceiling for milk formula is officially lifted on 1 April 2017Liquid growing-up milk formula posts the strongest value growth of 2017, with a 15% sales increaseThe average unit price of baby food increases in 2017Vietnam Dairy Products JSC (Vinamilk) remains the leader in 2017, with a value share of 28%Baby food is expected to record a value CAGR of 2% at constant 2017 prices over the forecast period, and reach VND36.3 trillion in 2022

<ul class=""><li>Baby food sees 16% retail value growth in 2017 to reach INR47.0 billion</li><li>Baby food benefits from the role of medical representatives promoting their products through doctors</li><li>Milk formula achieves growth of 16% during 2017 in retail value terms to reach INR25.2 billion</li><li>Average unit price increases by 10% in 2017</li><li>Nestlé India Ltd remains dominant with a value share of 63% in 2017</li><li>Baby food is expected to see an 8% constant 2017 value CAGR over the forecast period to reach INR69.8 billion in 2022</li></ul>

Baby food sees 16% retail value growth in 2017 to reach INR47.0 billionBaby food benefits from the role of medical representatives promoting their products through doctorsMilk formula achieves growth of 16% during 2017 in retail value terms to reach INR25.2 billionAverage unit price increases by 10% in 2017Nestlé India Ltd remains dominant with a value share of 63% in 2017Baby food is expected to see an 8% constant 2017 value CAGR over the forecast period to reach INR69.8 billion in 2022

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

Eris Lifesciences / Equity Capital Markets

Eris Lifesciences plans to raise US$270m in its IPO through a selldown of shares by a ChrysCapital, a PE investor, and the founders. Our fellow Insight Provider, <a href="https://www.smartkarma.com/profiles/13" target="_blank" data-smartkarma-citation="accounts:13">Kemp Dolliver, CFA</a>, covered part of the deal in his earlier insight, <a href="https://www.smartkarma.com/insights/eris-lifesciences-ask-some-questions-take-the-deal" target="_blank" data-smartkarma-citation="insights:11423">Eris Lifesciences: Ask Some Questions, Take the Deal</a>.In this insight, we will run the deal through our framework, discuss  more about the company and analyse its bottomline growth which has primarily been driven by margin expansion, and we also discuss valuations.

Eris Lifesciences plans to raise US$270m in its IPO through a selldown of shares by a ChrysCapital, a PE investor, and the founders. Our fellow Insight Provider, Kemp Dolliver, CFA, covered part of the deal in his earlier insight, Eris Lifesciences: Ask Some Questions, Take the Deal.In this insight, we will run the deal through our framework, discuss  more about the company and analyse its bottomline growth which has primarily been driven by margin expansion, and we also discuss valuations.

Eris Lifesciences IPO - Rich Valuations at What Appears to Be Unsustainably High Margins

Asia focused research insights & advisory, Asia Advisors

Vinay Patel

Asia focused research insights & advisory

Asia Advisors

Asia Advisors is an independent financial advisory and research firm working closely with corporates and institutions to provide consulting solutions & research insights. We provide advisory services including capital solutions, business strategy and investment insights.
Firm is headed by Vinay Patel who has close to two decades of experience in research and business development at large, international investment banks such as HSBC and ICICI Securities. Led research efforts in areas of Macroeconomics, Asset Allocation & Investment Strategy for close to a decade in global & domestic research teams. As a business head in Singapore, advised top global investment management firms & Portfolio managers in Asia for India related investments.
Vinay was recently joined by Swapnil Manish, an investment banker and ex-ecommerce entrepreneur with more than 12 years of experience. Swapnil was the TMT banker at BNP Paribas and was part of several large M&A and ECM transactions (Bharti-Zain, Bharti Infratel IPO, Schneider-Zicom among several others). He's also had a stint as an ecommerce entrepreneur having launched & led Mumbai's first online grocery player.

Primary issuances are expected to remain strong in 2017 following a five-year high in funds raised in 2016 (Rs 220bn) even as Fed rate expectations weigh on the broader secondary market outlook for India. Data shows that primary issuances in previous years have bucked the trend of weak capital inflows and in our view companies evaluate sector appetite &amp; valuations levels before deciding on a public issue. For e.g. in the recent past, CY2015 hardly recorded any significant FII inflows however the…

Primary issuances are expected to remain strong in 2017 following a five-year high in funds raised in 2016 (Rs 220bn) even as Fed rate expectations weigh on the broader secondary market outlook for India. Data shows that primary issuances in previous years have bucked the trend of weak capital inflows and in our view companies evaluate sector appetite &amp; valuations levels before deciding on a public issue. For e.g. in the recent past, CY2015 hardly recorded any significant FII inflows however the…

IPO Pipeline to Remain Strong as PE Funds, Quasi-Govt Promoters Aim for Portfolio Exits

Frontier and emerging markets (Vietnam)

Dylan Waller

Nomadic Equity

Introduction to MedisetterI had the pleasure of interviewing Anirban Lahiri of Medisetter to discuss some of the opportunities present in Asia's healthcare industry. Medisetter is an international online medical travel search and bookings platform offering a one-stop-shop medical travel booking and planning service. Prospective patients can search and compare hospitals and clinics across different countries, receive price quotes, book appointments and also book accommodation, translators and…

Introduction to MedisetterI had the pleasure of interviewing Anirban Lahiri of Medisetter to discuss some of the opportunities present in Asia's healthcare industry. Medisetter is an international online medical travel search and bookings platform offering a one-stop-shop medical travel booking and planning service. Prospective patients can search and compare hospitals and clinics across different countries, receive price quotes, book appointments and also book accommodation, translators and…

MediSetter Interview: Insight on Opportunities in Asia's Healthcare Industry

India

Glaxosmithkline Pharmaceuticals Ltd. manufactures and distributes a wide variety of pharmaceutical drugs, veterinary products and laboratory chemicals. The Company's products include "Phexin" capsules, "Betnesol" tablets and injections, "Becoride" asthma treatment, "Betnovate" ointment, "Cetzine" antihistamine, "Zucox" and "Rizap" anti-tuberculosis products.

Glaxosmithkline Pharmaceuticals (GLXO IN)

Alkem Laboratories Limited operates as a pharmaceutical company. The Company researches, develops, manufactures, and markets generic and branded pharmaceuticals. Alkem also provides nutraceuticals, functional foods, health foods, and herbal products.

Ajanta Pharma Limited is a pharmaceutical company involved in the areas of product research, manufacturing, and marketing. The Company's manufacturing capabilities include segments such as antiretrovirals, antimalarials, cardiovascular, dermatology, and ophthalmology. The Company also markets over the counter products that include some nature-based remedies.

Glenmark Pharmaceuticals Ltd., is a pharmaceutical company. The Company develops generic drugs for inflammation, metabolic disorders, and pain.

Ipca Laboratories Limited operates a pharmaceutical company, which distributes products to over 75 countries worldwide.  The Group's products include finished dosage forms, drug delivery systems, bulk drugs and intermediates.

Lupin Limited manufactures bulk actives and formulations. The principal bulk actives manufactured by it include Rifampicin, Pyrazinamide, Ethambutol (anti-TB), Cephalosporins (anti-infectives) and cardiovasculars. The company also possesses competencies in phytomedicines, in which medicines are made out of plant and herbal resources supported by the discipline of modern medicine.

Aurobindo Pharma Limited manufactures and markets oral and sterile antibiotics, antibacterials, anti-ulcerants and other generic basic drugs. Products include semi-synthetic penicillin drugs like ampicillin and amoxycillinas well as antibiotics, which include cloxacillin and dicloxacillin. The Company also manufactures formulations like astemizole, domeperidone and omeprazole.

J.B. Chemicals & Pharmaceuticals Ltd. manufactures pharmaceuticals, chemicals and agro-based products. The Group's products include metrogyl, rantac (a ranitidine-based formula), and nicardia, a cardiac care medicine. The Company has an agreement with Justesa Imagen, to manufacture and market diagnostics under the "Trazograf" brand name.

J.B. Chemicals & Pharmaceuticals (JBCP IN)

Alembic Pharmaceuticals Ltd. manufactures pharmaceuticals.  The Company produces active pharmaceutical ingredients, bulk pharmaceutical chemicals, formulations, herbal nutraceuticals, and veterinary products.

Natco Pharma Limited manufactures a comprehensive range of branded and generic dosage forms, bulk actives and intermediates for both Indian as well as International markets. The Company's product range is constantly expanded through its own R&D initiative, basic research and also through joint ventures, technology transfers and collaborations.

CSPC Pharmaceutical Group Limited, through its subsidiaries, manufactures and sells pharmaceutical products.  The Company's products include vitamin C, antibiotics and common generic drugs. The Company is also engages in the development of innovative drugs and antibiotics.

Sino Biopharmaceutical Limited, through its subsidiaries, researches, develops, produces, and sells biopharmaceutical products for the medical treatment of ophthalmia, as well as modernized Chinese medicine and chemical medicine for the treatment of hepatitis.

Changchun High & New Technology Industry (Group) Inc. is an investment holding company.  Through its subsidiaries, the Company manufactures biopharmaceuticals and Chinese traditional medicines, constructs infrastructure facilities, manufactures electrolytic condensers, and develops and manages real estate.

ROHTO PHARMACEUTICAL CO., LTD. manufactures and markets pharmaceuticals and cosmetics products.  The Company's products include eyewash, bath soaps, gastrointestinal medicine, and hand cream.  Rohto Pharmaceutical also has a license agreement with its subsidiary, Mentholatum (US) to sell their brand products.  The Company also manufactures contact lenses and health foods.

Sichuan Kelun Pharmaceutical Co., Ltd. manufactures pharmaceutical products. The Company's products include large infusion products, tablets, capsules, antibiotic injection, lyophilized powder for injection, and traditional Chinese medicine.

China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. manufactures and markets medicines, healthcare products, and medical instruments.  Through its subsidiaries, the Company also operates in pharmaceutical trading, printing, food manufacturing, real estate development, and provides medical services.

China Resources Sanjiu Medical & Pharma (000999 CH)

Intra-Cellular Therapies Inc. researches and develops biopharmaceutical drugs. The Company engages in the research and development of small molecule drugs to treat neuropsychiatric and neurological diseases and other disorders of the central nervous system. Intra-Cellular Therapies offers its products to the medical industry.

ONO PHARMACEUTICAL CO., LTD. manufactures and sells pharmaceuticals.  The Company mainly researches and develops prescription drugs.

Yuhan Corporation manufactures and markets various pharmaceutical products on its own and through joint ventures with other global pharmaceutical companies. The Company also produces personal care products, dietary supplements, and veterinary medicines.

Shanghai Fosun Pharmaceutical (Group) Co., Ltd. is a pharmaceutical company. Through its subsidiaries, the Company manufactures genetic medicines, Chinese traditional medicines, diagnostic products, and medical instruments, provides technology, marketing, and advertising services, as well as invests in import and export trading.

Shanghai Fosun Pharmaceutical (Group) (600196 CH)

Abbott India Limited manufactures a wide range of pharmaceutical and medical products, agrochemicals, and animal health products. The Company's medical and pharmaceutical products include insulin injections, anti-dysentery drugs, vitamin preparations, penicillin preparations, sulfonamide tablets, and a variety of household remedies.

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

Abbott India (BOOT IN)

Sector Capsule: Baby Food in Vietnam

Baby food records retail value growth and retail volume growth of 5% in 2017, reaching VND32.3 trillion and 108,000 tonnes The price ceiling for...

Euromonitor International Ltd.

Sector Capsule: Baby Food in India

Baby food sees 16% retail value growth in 2017 to reach INR47.0 billion Baby food benefits from the role of medical representatives promoting...

Euromonitor International Ltd.

Eris Lifesciences IPO - Rich Valuations at What Appears to Be Unsustainably High Margins

Eris Lifesciences plans to raise US$270m in its IPO through a selldown of shares by a ChrysCapital, a PE investor, and the founders. Our fellow...

Sumeet Singh

IPO Pipeline to Remain Strong as PE Funds, Quasi-Govt Promoters Aim for Portfolio Exits

Primary issuances are expected to remain strong in 2017 following a five-year high in funds raised in 2016 (Rs 220bn) even as Fed rate expectations...

Asia Advisors

MediSetter Interview: Insight on Opportunities in Asia's Healthcare Industry

Introduction to MedisetterI had the pleasure of interviewing Anirban Lahiri of Medisetter to discuss some of the opportunities present in Asia's...

Nomadic Equity

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)