Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sosei-group-corp" target="_blank" data-smartkarma-citation="entities:770:1" rel="noopener">Sosei Group (4565 JP)</a> shares sold off heavily after a major setback in partner’s clinical trial. On June 26, <a href="https://www.smartkarma.com/entities/pfizer-inc" target="_blank" data-smartkarma-citation="entities:1131:1" rel="noopener">Pfizer Inc (PFE US)</a> decided to discontinue the development of lotiglipron (PF-07081532).</li>
<li>PF-07081532 is one of three clinical candidates nominated by Pfizer during its multi-target drug discovery collaboration with Sosei to research and develop potential new medicines.</li>
<li>As lotiglipron was the most advanced clinical candidate using Sosei’s drug discovery platform, the heavy sell-off seen in Sosei shares should not be considered as overreaction.</li>
</ul>



Sosei Group (4565 JP) shares sold off heavily after a major setback in partner’s clinical trial. On June 26, Pfizer Inc (PFE US) decided to discontinue the development of lotiglipron (PF-07081532).
PF-07081532 is one of three clinical candidates nominated by Pfizer during its multi-target drug discovery collaboration with Sosei to research and develop potential new medicines.
As lotiglipron was the most advanced clinical candidate using Sosei’s drug discovery platform, the heavy sell-off seen in Sosei shares should not be considered as overreaction.


Sosei Group (4565 JP): Hit Hard by Partner’s Clinical Trial Termination; Need Time to Recover

<ul>
<li>
<a href="https://www.smartkarma.com/entities/eisai-co-ltd" target="_blank" data-smartkarma-citation="entities:21001:1" rel="noopener">Eisai Co Ltd (4523 JP)</a> is expected to receive full approval from the FDA for Alzheimer’s disease drug, Leqembi, as FDA advisory committee voted unanimously in support of the drug.  </li>
<li>Leqembi application has been granted Priority Review, with PDUFA action date of July 6. Once the FDA grants traditional approval, broader Medicare coverage for Leqembi would begin the same day.</li>
<li>Leqembi is expected to receive approval in Japan, EU, and China in FY24. With these approvals, Leqembi is expected to become the top selling Alzheimer’s disease drug globally.</li>
</ul>



Eisai Co Ltd (4523 JP) is expected to receive full approval from the FDA for Alzheimer’s disease drug, Leqembi, as FDA advisory committee voted unanimously in support of the drug.  
Leqembi application has been granted Priority Review, with PDUFA action date of July 6. Once the FDA grants traditional approval, broader Medicare coverage for Leqembi would begin the same day.
Leqembi is expected to receive approval in Japan, EU, and China in FY24. With these approvals, Leqembi is expected to become the top selling Alzheimer’s disease drug globally.


Eisai Co (4523 JP): Alzheimer’s Drug Approaching Full FDA Approval; Other Countries to Follow Soon

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Eli Lilly is off to a mixed start in 2023, with volume-driven revenue growth led by its incretin portfolio, Verzenio and Jardiance.</li><li>The new product category delivered $574 million in sales, while the new product and growth product categories together contributed 20 percentage points to volume increase.</li><li>We give Eli Lilly and Company a 'Hold' rating with a revised target price.</li></ul>

Eli Lilly is off to a mixed start in 2023, with volume-driven revenue growth led by its incretin portfolio, Verzenio and Jardiance.The new product category delivered $574 million in sales, while the new product and growth product categories together contributed 20 percentage points to volume increase.We give Eli Lilly and Company a 'Hold' rating with a revised target price.

Eli Lilly and Company: Can Rezvoglar Destroy Sanofi’s Insulin Market Share? – Key Drivers

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

<ul>
<li>The National Health Commission issued a new document, aiming to relax the approval of large medical equipment configuration, which would be a significant benefit for the industry.</li>
<li>Whether the "Me-Better" strategy of pharmaceutical enterprises is reasonable or not depends on the understanding level of disease/molecule of the followers and the basis for early clinical project establishment.</li>
<li>Unlike overseas markets, the core asset of China pharmaceutical industry isn’t innovative drugs but TCM considering policy environment.We recommend investors leave a place in portfolio to invest in TCM companies.</li>
</ul>


The National Health Commission issued a new document, aiming to relax the approval of large medical equipment configuration, which would be a significant benefit for the industry.
Whether the "Me-Better" strategy of pharmaceutical enterprises is reasonable or not depends on the understanding level of disease/molecule of the followers and the basis for early clinical project establishment.
Unlike overseas markets, the core asset of China pharmaceutical industry isn’t innovative drugs but TCM considering policy environment.We recommend investors leave a place in portfolio to invest in TCM companies.


China Healthcare Weekly (Mar24)-Medical Device New Policy,Reassess Me-Too Strategy,TCM Is Core Asset

<ul><li>Eli Lilly had a mixed result in the last quarter as the company failed to meet the revenue expectations of Wall Street, largely on account of the forex headwinds and the influence of Alimta LOE in the U.S.</li><li>The pharma major did manage an earnings beat.</li><li>The company has a strong pipeline and received FDA approval for donanemab in early symptomatic Alzheimer's disease and pirtobrutinib in mantle cell lymphoma.</li></ul>

Eli Lilly had a mixed result in the last quarter as the company failed to meet the revenue expectations of Wall Street, largely on account of the forex headwinds and the influence of Alimta LOE in the U.S.The pharma major did manage an earnings beat.The company has a strong pipeline and received FDA approval for donanemab in early symptomatic Alzheimer's disease and pirtobrutinib in mantle cell lymphoma.

Eli Lilly and Company: Collaboration With Entos Pharma & Other Drivers

United States

Eli Lilly and Company discovers, develops, manufactures, and sells pharmaceutical products for humans and animals. The Company products are sold in countries around the world. Eli Lilly products include neuroscience, endocrine, anti-infectives, cardiovascular agents, oncology, and animal health products.

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Eli Lilly & (LLY UN)

Sosei Group (4565 JP): Hit Hard by Partner’s Clinical Trial Termination; Need Time to Recover

Pfizer decided to discontinue the development of lotiglipron, one of the candidates resulting from Pfizer’s drug discovery collaboration with...

Tina Banerjee

Eisai Co (4523 JP): Alzheimer’s Drug Approaching Full FDA Approval; Other Countries to Follow Soon

The PDUFA action date for traditional approval of Leqembi for the treatment of Alzheimer’s disease has been set for July 6. Leqembi is expected to...

Tina Banerjee

China Healthcare Weekly (Mar24)-Medical Device New Policy,Reassess Me-Too Strategy,TCM Is Core Asset

New policy to relax the approval of large medical equipment configuration is released, which brings opportunities. It's time to reassess "Me-Too"...

Xinyao (Criss) Wang

Eli Lilly and Company: Collaboration With Entos Pharma & Other Drivers

Eli Lilly had a mixed result in the last quarter as the company failed to meet the revenue expectations of Wall Street, largely on account of the...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Sosei Group (4565 JP): Hit Hard by Partner’s Clinical Trial Termination; Need Time to Recover

Pfizer decided to discontinue the development of lotiglipron, one of the candidates resulting from Pfizer’s drug discovery collaboration with...

Tina Banerjee

Eisai Co (4523 JP): Alzheimer’s Drug Approaching Full FDA Approval; Other Countries to Follow Soon

The PDUFA action date for traditional approval of Leqembi for the treatment of Alzheimer’s disease has been set for July 6. Leqembi is expected to...

Tina Banerjee

Eli Lilly and Company: Can Rezvoglar Destroy Sanofi’s Insulin Market Share? – Key Drivers

Eli Lilly is off to a mixed start in 2023, with volume-driven revenue growth led by its incretin portfolio, Verzenio and Jardiance. The new...

Baptista Research

China Healthcare Weekly (Mar24)-Medical Device New Policy,Reassess Me-Too Strategy,TCM Is Core Asset

New policy to relax the approval of large medical equipment configuration is released, which brings opportunities. It's time to reassess "Me-Too"...

Xinyao (Criss) Wang

Eli Lilly and Company: Collaboration With Entos Pharma & Other Drivers

Eli Lilly had a mixed result in the last quarter as the company failed to meet the revenue expectations of Wall Street, largely on account of the...

Baptista Research