Frontier and emerging markets (Vietnam)

Dylan Waller

Nomadic Equity

Thematic (Sector/Industry)

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

Pharma/ Biotechnology Investments Specialist, Vasuda Capital Management

Dr. Bhavneesh Sharma, MD, MBA

Pharma/ Biotechnology Investments Specialist

Vasuda Capital Management

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/3918" target="_blank" data-smartkarma-citation="entities:3918:1">Cipla Ltd (CIPLA IN)</a> is India’s third largest pharmaceutical company. Cipla’s common stock is not the cheapest among peers, looking at the forward EV/EBITDA or forward P/E ratio. Moreover, its profitability measures like operating margin, return on equity, and five-year revenue growth (CAGR) are not enough. Cipla's low presence in the U.S. market compared to its peers may explain underperformance.We rate Cipla’s common stock neutral for now. We prefer <a href="https://www.smartkarma.com/entities/19974" target="_blank" data-smartkarma-citation="entities:19974:1">Aurobindo Pharma Ltd (ARBP IN)</a>, but will keep Cipla on our watchlist. We feel bullish about Cipla's restructuring efforts and plans for further U.S. expansion.

Cipla Ltd (CIPLA IN) is India’s third largest pharmaceutical company. Cipla’s common stock is not the cheapest among peers, looking at the forward EV/EBITDA or forward P/E ratio. Moreover, its profitability measures like operating margin, return on equity, and five-year revenue growth (CAGR) are not enough. Cipla's low presence in the U.S. market compared to its peers may explain underperformance.We rate Cipla’s common stock neutral for now. We prefer Aurobindo Pharma Ltd (ARBP IN), but will keep Cipla on our watchlist. We feel bullish about Cipla's restructuring efforts and plans for further U.S. expansion.

Cipla: Not the Best Among Peers but Catching up Fast, Keep on Watchlist.

<a href="https://www.smartkarma.com/entities/19974" target="_blank" data-smartkarma-citation="entities:19974:1">Aurobindo Pharma Ltd (ARBP IN)</a> is the 5th largest pharmaceutical company in India by market cap and revenue. It is the 7th largest pharmaceutical company in the U.S. by the number of prescriptions. We present measures of financial performance like ROIC-WACC, operating margin and revenue growth for the company. Shares could have 27% upside using FY2018 (ending 03/2018) estimated P/E ratio. Shares also appear undervalued using the reverse discounted cash flow (DCF) method.

Aurobindo Pharma Ltd (ARBP IN) is the 5th largest pharmaceutical company in India by market cap and revenue. It is the 7th largest pharmaceutical company in the U.S. by the number of prescriptions. We present measures of financial performance like ROIC-WACC, operating margin and revenue growth for the company. Shares could have 27% upside using FY2018 (ending 03/2018) estimated P/E ratio. Shares also appear undervalued using the reverse discounted cash flow (DCF) method. 

Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

This Insight is an update from <a href="https://www.smartkarma.com/insights/generic-drug-antitrust-inquiry-a-primer" target="_blank" data-smartkarma-citation="insights:6951">Generic Drug Antitrust Inquiry: A Primer</a>. Several generic drug companies caught up in government investigations into alleged price collusion have reported results since the US presidential election. A few of them made public comments on their conference calls (most companies stayed quiet, but have disclosures in their SEC filings):Teva Pharmaceutical Industries CEO Erez Vigodman:<blockquote>Finally, I cannot conclude this part of my remarks without briefly addressing the U.S…</blockquote>

This Insight is an update from Generic Drug Antitrust Inquiry: A Primer. Several generic drug companies caught up in government investigations into alleged price collusion have reported results since the US presidential election. A few of them made public comments on their conference calls (most companies stayed quiet, but have disclosures in their SEC filings):Teva Pharmaceutical Industries CEO Erez Vigodman:Finally, I cannot conclude this part of my remarks without briefly addressing the U.S…

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

<ul><li>From a demand perspective, Asia’s population is growing as is longevity. On the supply side, Asia’s number of doctors, nurses, hospitals and medical equipment diverge across the region, and still trail the per capita averages of the 34 OECD member countries. </li><li>For a shorter-term perspective, over the past five weeks, four Healthcare stocks (Cordlife Group, iX Biopharma, UG Healthcare Corporation &amp; Health Management International) have released Annual Reports whilst a secondary listing (Techcomp Holdings) has released an Interim Report.</li><li>Within these reports, there are examples of how the Healthcare Sector is adapting to Asia Pacific demographics, maintaining an ongoing focus on Research &amp; Development, monitoring pharmaceutical &amp; food regulation trends, collaborating with communities to build business channels, expansion of production lines and pursuing value chain management in manufacturing and distribution. </li></ul>

From a demand perspective, Asia’s population is growing as is longevity. On the supply side, Asia’s number of doctors, nurses, hospitals and medical equipment diverge across the region, and still trail the per capita averages of the 34 OECD member countries. For a shorter-term perspective, over the past five weeks, four Healthcare stocks (Cordlife Group, iX Biopharma, UG Healthcare Corporation &amp; Health Management International) have released Annual Reports whilst a secondary listing (Techcomp Holdings) has released an Interim Report.Within these reports, there are examples of how the Healthcare Sector is adapting to Asia Pacific demographics, maintaining an ongoing focus on Research &amp; Development, monitoring pharmaceutical &amp; food regulation trends, collaborating with communities to build business channels, expansion of production lines and pursuing value chain management in manufacturing and distribution. 

India

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.

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Aurobindo Pharma (ARBP IN)

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

Cipla: Not the Best Among Peers but Catching up Fast, Keep on Watchlist.

Cipla Ltd (CIPLA IN) is India’s third largest pharmaceutical company. Cipla’s common stock is not the cheapest among peers, looking at the forward...

Dr. Bhavneesh Sharma, MD, MBA

Aurobindo Pharma: Analysis and Valuation

Aurobindo Pharma Ltd (ARBP IN) is the 5th largest pharmaceutical company in India by market cap and revenue. It is the 7th largest pharmaceutical...

Dr. Bhavneesh Sharma, MD, MBA

No Trump Cards for This Risk

This Insight is an update from Generic Drug Antitrust Inquiry: A Primer. Several generic drug companies caught up in government investigations into...

Kemp Dolliver, CFA

Key Drivers of Asia's Healthcare Sector

From a demand perspective, Asia’s population is growing as is longevity. On the supply side, Asia’s number of doctors, nurses, hospitals and...

Singapore Exchange Ltd (SGX)

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