Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/genmab-a-s-26418c4e-f8a3-407b-a60e-422af04febfe" target="_blank" data-smartkarma-citation="entities:28558:1" rel="noopener">Genmab A/S (GMAB US)</a> recorded 30% YoY growth in royalty revenue on net sales of Darzalex to DKK1,952 million, representing 68% of total revenue in 1Q23.</li>
<li>Genmab has guided for 2023 Darzalex royalty revenue of DKK10.4–11.1B, compared to royalty revenue of DKK10.1B in 2022, based on estimated Darzalex 2023 net sales of $9.4 – 10.0B.</li>
<li>In May 2023, Genmab received FDA approval for Epkinly as the first and only T-cell engaging bispecific antibody for the treatment of relapsed or refractory diffuse large B-cell lymphoma.</li>
</ul>



Genmab A/S (GMAB US) recorded 30% YoY growth in royalty revenue on net sales of Darzalex to DKK1,952 million, representing 68% of total revenue in 1Q23.
Genmab has guided for 2023 Darzalex royalty revenue of DKK10.4–11.1B, compared to royalty revenue of DKK10.1B in 2022, based on estimated Darzalex 2023 net sales of $9.4 – 10.0B.
In May 2023, Genmab received FDA approval for Epkinly as the first and only T-cell engaging bispecific antibody for the treatment of relapsed or refractory diffuse large B-cell lymphoma.


Genmab A/S (GMAB US): Darzalex Continued to Be the Cash Cow; Epkinly Approval Adds Another Catalyst

<ul>
<li>
<a href="https://www.smartkarma.com/entities/i-mab" target="_blank" data-smartkarma-citation="entities:28384:1" rel="noopener">I-Mab (IMAB US)</a> shares gained 19% in last 10 days after the company announced commercial partnering deal for its pediatric growth hormone deficiency drug candidate, Eftansomatropin Alfa in China.</li>
<li>Oncology drug, felzartamab is expected to be I-Mab’s first drug in China. Last month, I-Mab entered into a partnership with Sinopharm to extend coverage and enhance accessibility of its pipeline.</li>
<li>To expand its investor base, I-Mab is expected to complete dual listing on the STAR Market of the Shanghai Stock Exchange by the end of 2022.</li>
</ul>



I-Mab (IMAB US) shares gained 19% in last 10 days after the company announced commercial partnering deal for its pediatric growth hormone deficiency drug candidate, Eftansomatropin Alfa in China.
Oncology drug, felzartamab is expected to be I-Mab’s first drug in China. Last month, I-Mab entered into a partnership with Sinopharm to extend coverage and enhance accessibility of its pipeline.
To expand its investor base, I-Mab is expected to complete dual listing on the STAR Market of the Shanghai Stock Exchange by the end of 2022.


I-Mab (IMAB US): Expanding Commercialization Footprint in China for Innovative Late-Stage Assets

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

Global equities remain in a short-term consolidation phase, however we continue to believe the longer-term trend is up and to the right for the MSCI ACWI following the late-October breakout.  In this report we recap important technical levels across all major indexes and highlight actionable opportunities within Global Health Care stocks, which are hitting on all cylinders, with plenty of opportunities across various industries (services, devices/equipment, pharmaceuticals, biotech, etc.) and geographies (Europe, Japan, China, EM, etc.).

Global equities remain in a short-term consolidation phase, however we continue to believe the longer-term trend is up and to the right for the MSCI ACWI following the late-October breakout.  In this report we recap important technical levels across all major indexes and highlight actionable opportunities within Global Health Care stocks, which are hitting on all cylinders, with plenty of opportunities across various industries (services, devices/equipment, pharmaceuticals, biotech, etc.) and geographies (Europe, Japan, China, EM, etc.).

Global Equity Strategy: Health Care Hitting On All Cylinders - Overweight

TSE Tokyo Price Index TOPIX / Technical Analysis

Continue to favor EAFE over EM. As long as the U.S. dollar remains elevated, we believe  developed international (EAFE) will remain in a leadership position relative to EM (MSCI EM). In this report we highlight actionable set ups within Japan, Switzerland and Australia. Within Japanese Sectors, we focus on opportunities within Technology, Financials, Health Care, and Staples. We also highlight attractive setups within European/UK Sectors, including Health Care, Industrials, Staples and Utilities.

Continue to favor EAFE over EM. As long as the U.S. dollar remains elevated, we believe  developed international (EAFE) will remain in a leadership position relative to EM (MSCI EM). In this report we highlight actionable set ups within Japan, Switzerland and Australia. Within Japanese Sectors, we focus on opportunities within Technology, Financials, Health Care, and Staples. We also highlight attractive setups within European/UK Sectors, including Health Care, Industrials, Staples and Utilities.

Heightened trade tensions have caused global equities to move from resistance to support in a matter of days. Additional consolidation - i.e., no breakdowns - on the broad global indexes (MSCI ACWI, ACWI ex-US, EAFE, and EM) remains the most likely scenario. At the same time, new cracks are beginning to show and as a result we believe global equities are vulnerable to a breakdown.  Along with a recap of important technical levels across major markets, we flip through several attractive Groups and stocks within Advertising, retail, restaurants, and travel, which offer attractive pullback opportunities.

Heightened trade tensions have caused global equities to move from resistance to support in a matter of days. Additional consolidation - i.e., no breakdowns - on the broad global indexes (MSCI ACWI, ACWI ex-US, EAFE, and EM) remains the most likely scenario. At the same time, new cracks are beginning to show and as a result we believe global equities are vulnerable to a breakdown.  Along with a recap of important technical levels across major markets, we flip through several attractive Groups and stocks within Advertising, retail, restaurants, and travel, which offer attractive pullback opportunities.

Global Equity Strategy: Another Test of Support

Denmark

Genmab A/S operates as a biotechnology company. The Company creates and develops human antibody products for the treatment of life threatening and debilitating diseases. Genmab focuses on products to treat cancer, rheumatoid arthritis and other inflammatory conditions, and psoriasis. The Company develops new products through partnerships. Genmab operates in Europe and the United States.

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Genmab A/S (GEN DC)

Genmab A/S (GMAB US): Darzalex Continued to Be the Cash Cow; Epkinly Approval Adds Another Catalyst

Royalty revenue from top-selling cancer drug Darzalex continues to contribute ~70% of Genmab’s revenue. The company’s 2 proprietary FDA-approved...

Tina Banerjee

I-Mab (IMAB US): Expanding Commercialization Footprint in China for Innovative Late-Stage Assets

I-Mab entered into commercialization partnership in China ahead of its innovative and differentiated product launch. Shares are also expected to...

Tina Banerjee

Global Equity Strategy: Health Care Hitting On All Cylinders - Overweight

Global equities remain in a short-term consolidation phase, however we continue to believe the longer-term trend is up and to the right for the...

Vermilion Research

Developed Markets Opportunities

Continue to favor EAFE over EM. As long as the U.S. dollar remains elevated, we believe developed international (EAFE) will remain in a leadership...

Vermilion Research

Global Equity Strategy: Another Test of Support

Heightened trade tensions have caused global equities to move from resistance to support in a matter of days. Additional consolidation - i.e., no...

Vermilion Research

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