HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

Sihuan Pharmaceutical Hldgs / Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/sihuan-pharmaceutical-hldgs" target="_blank" data-smartkarma-citation="entities:33:1" rel="noopener">Sihuan Pharmaceutical Hldgs (460 HK)</a>’s share price fell for two consecutive days on Sep.27 and Sep.28, decreasing 11% and 17.98%, respectively. According to public news, recently, Sihuan filed a lawsuit against CBC Group for infringement of trade secrets and such lawsuit has been formally accepted by the Beijing Intellectual Property Court. Meanwhile, there are also concerns on the acquisition of Hugel by CBC Group that may affect Sihuan’s exclusive distribution rights in China for Botulinum Toxin Type A (Letybo) and Hyaluronic Acid. On Sep.30, Sihuan made an announcement to claim that the Company does not expect its exclusive distribution rights will be affected by the Hugel Acquisition. This insight mainly analyzed the potential impact of the acquisition, the business and the outlook of the Company.

Sihuan Pharmaceutical Hldgs (460 HK)’s share price fell for two consecutive days on Sep.27 and Sep.28, decreasing 11% and 17.98%, respectively. According to public news, recently, Sihuan filed a lawsuit against CBC Group for infringement of trade secrets and such lawsuit has been formally accepted by the Beijing Intellectual Property Court. Meanwhile, there are also concerns on the acquisition of Hugel by CBC Group that may affect Sihuan’s exclusive distribution rights in China for Botulinum Toxin Type A (Letybo) and Hyaluronic Acid. On Sep.30, Sihuan made an announcement to claim that the Company does not expect its exclusive distribution rights will be affected by the Hugel Acquisition. This insight mainly analyzed the potential impact of the acquisition, the business and the outlook of the Company.

Sihuan Pharmaceutical (460.HK) - The Dispute with CBC Group, the Business and the Outlook

Thematic (Sector/Industry)

Industry viewpoints:
<ul>
<li>This year, the underlying logic of China's economy is being restructured.</li>
<li>Whether drugs or medical devices, once they are included in the scope of centralized procurement, there could be only two strategies.</li>
<li>There are still many uncertainties in regulation approval and commercialization of AI medical imaging products in China.</li>
</ul>
Company news:
News about the updated progress on new drugs, new cooperation agreement and M&amp;A deal of <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/akeso-biopharma-inc" target="_blank" data-smartkarma-citation="entities:28830:1" rel="noopener">Akeso Biopharma Inc (9926 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/jiangsu-hengrui-medicine-co-ltd" target="_blank" data-smartkarma-citation="entities:14128:1" rel="noopener">Jiangsu Hengrui Medicine (600276 CH) </a>and <a href="https://www.smartkarma.com/entities/wenzhou-kangning-hospital" target="_blank" data-smartkarma-citation="entities:1100:1" rel="noopener">Wenzhou Kangning Hospital (2120 HK)</a>.
Market review:
Last week, stock price for healthcare sector in A share increased 0.61%, while CSI 300 increased 1.21% over the same period of time.
Risk disclosure:
Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Industry viewpoints:

This year, the underlying logic of China's economy is being restructured.
Whether drugs or medical devices, once they are included in the scope of centralized procurement, there could be only two strategies.
There are still many uncertainties in regulation approval and commercialization of AI medical imaging products in China.

Company news:
News about the updated progress on new drugs, new cooperation agreement and M&amp;A deal of Alphamab Co Ltd (9966 HK), Akeso Biopharma Inc (9926 HK), Innovent Biologics Inc (1801 HK), Jiangsu Hengrui Medicine (600276 CH) and Wenzhou Kangning Hospital (2120 HK).
Market review:
Last week, stock price for healthcare sector in A share increased 0.61%, while CSI 300 increased 1.21% over the same period of time.
Risk disclosure:
Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

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

Changchun High & New Tech A / Equity Bottom-Up

Recently, <a href="https://www.smartkarma.com/entities/changchun-high-new-technology-industry-group-inc-a" target="_blank" data-smartkarma-citation="entities:1371:1" rel="noopener">Changchun High &amp; New Tech A (000661 CH)</a> (CCHT) is quite “popular”, because there is news about the growth hormone abuse and the possibility of volume-based purchase (VBP) on growth hormone, resulting in the continuous correction of CCHT’s share price. As of August 13, 2021, the Company’s share price has fallen by over 31% this year. So, does the logic of this Company change? This insight mainly analyzed the business performance, the potential risks and the outlook of CCHT.

Recently, Changchun High &amp; New Tech A (000661 CH) (CCHT) is quite “popular”, because there is news about the growth hormone abuse and the possibility of volume-based purchase (VBP) on growth hormone, resulting in the continuous correction of CCHT’s share price. As of August 13, 2021, the Company’s share price has fallen by over 31% this year. So, does the logic of this Company change? This insight mainly analyzed the business performance, the potential risks and the outlook of CCHT.

Changchun High & New Tech (000661.CH) - Logic Change?

Recently, according to the official website, <a href="https://www.smartkarma.com/entities/everest-medicines-ltd" target="_blank" data-smartkarma-citation="entities:29224:1" rel="noopener">Everest Medicines (1952 HK)</a> announced that its sacituzumab govitecan-hziy (SG, Trodelvy) was granted Priority Review by the Center for Drug Evaluation (CDE) of the China National Medical Products Administration (NMPA). This marks another progress following the Company's announcement that the NMPA accepted its Biologics License Application (BLA) for SG for the treatment of adult patients with unresectable locally advanced or metastatic triple-negative breast cancer (TNBC) who have received two or more prior systemic therapies, at least one of them for metastatic disease. The BLA submission of Trodelvy, the core product candidate of Everest Medicines, was substantially earlier than the Company's previous guidance and our expectations, so it is expected that Trodelvy would contribute sales revenue much earlier, and the Company’s commercialization prospect has reshaped.

Recently, according to the official website, Everest Medicines (1952 HK) announced that its sacituzumab govitecan-hziy (SG, Trodelvy) was granted Priority Review by the Center for Drug Evaluation (CDE) of the China National Medical Products Administration (NMPA). This marks another progress following the Company's announcement that the NMPA accepted its Biologics License Application (BLA) for SG for the treatment of adult patients with unresectable locally advanced or metastatic triple-negative breast cancer (TNBC) who have received two or more prior systemic therapies, at least one of them for metastatic disease. The BLA submission of Trodelvy, the core product candidate of Everest Medicines, was substantially earlier than the Company's previous guidance and our expectations, so it is expected that Trodelvy would contribute sales revenue much earlier, and the Company’s commercialization prospect has reshaped.

Everest Medicines (1952.HK) - The Commercialization Prospect Has Reshaped

China

I-Mab operates as a clinical stage biopharmaceutical company. The Company focuses on the discovery, development, and commercialization of novel biologics to treat diseases with significant unmet medical needs, particularly cancers and autoimmune disorders. I-Mab conducts business in China.

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I-Mab (IMAB US)

Sihuan Pharmaceutical (460.HK) - The Dispute with CBC Group, the Business and the Outlook

This article mainly analyzed the dispute between Sihuan and CBC Group, the potential impact of the Hugel Acquisition, Sihuan's medical beauty...

Xinyao (Criss) Wang

China Healthcare Weekly (Aug.27)

This article analyzed the logic of China's healthcare sector while its economy is being restructured, two strategies to deal with centralized...

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

Changchun High & New Tech (000661.CH) - Logic Change?

The article analyzed Changchun High & New Tech in terms of its 2021/1H financial results,media exposure of growth hormone abuse, possibility of...

Xinyao (Criss) Wang

Everest Medicines (1952.HK) - The Commercialization Prospect Has Reshaped

After the BLA submission of Trodelvy, the commercialization prospect of Everest Medicines has reshaped. This article mainly analyzed the business...

Xinyao (Criss) Wang

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