Equity Long-Short Analyst

Pyari Menon

Thematic (Sector/Industry)

<ul>
<li>We compare how a portfolio composed of our top five picks in each of our thematic reports based on datamining technical publications would have performed versus Indices</li>
<li>The size of outperformance for various periods suggests that incorporating innovation quality index that we use to rank companies can be a solid tool to generate alpha.   </li>
<li>We understand that much of the outperformance is generated by positive skew but even backing out the largest two contributors we see solid outperformance.</li>
</ul>


We compare how a portfolio composed of our top five picks in each of our thematic reports based on datamining technical publications would have performed versus Indices
The size of outperformance for various periods suggests that incorporating innovation quality index that we use to rank companies can be a solid tool to generate alpha.   
We understand that much of the outperformance is generated by positive skew but even backing out the largest two contributors we see solid outperformance.


A Look at How a Portfolio Composed of Our Top Five Innovators in Each Report Would Have Performed

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Boryung Pharmaceutical / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/boryung-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:19265:1" rel="noopener">Boryung Pharmaceutical (003850 KS)</a> is expanding its oncology portfolio mainly through in-licensing and co-promotion agreement and aims to achieve revenue of KRW217 billion from oncology segment in 2026.</li>
<li>This month, Boryung received approval for in-licensed drug Zepzelca (lurbinectedin), indicated for the treatment of small-cell lung cancer in Korea. The drug has demonstrated high adoption rate in the U.S.</li>
<li>This year, Boryung launched two in-licensed neutropenia drugs and one generic drug for breast cancer. The company plans to launch 18 oncology drugs during 2022–2026, including 10 first generics.</li>
</ul>



Boryung Pharmaceutical (003850 KS) is expanding its oncology portfolio mainly through in-licensing and co-promotion agreement and aims to achieve revenue of KRW217 billion from oncology segment in 2026.
This month, Boryung received approval for in-licensed drug Zepzelca (lurbinectedin), indicated for the treatment of small-cell lung cancer in Korea. The drug has demonstrated high adoption rate in the U.S.
This year, Boryung launched two in-licensed neutropenia drugs and one generic drug for breast cancer. The company plans to launch 18 oncology drugs during 2022–2026, including 10 first generics.


Boryung Pharmaceutical (003850 KS): Oncology Portfolio Expansion to Accelerate Growth Momentum

<ul>
<li>
<a href="https://www.smartkarma.com/entities/incannex-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:10095:1" rel="noopener">Incannex Healthcare (IHL AU)</a> has a differentiated product portfolio, addressing unmet global medical needs. With cash balance of A$37.5 million, Incannex is well-resourced to fund its activities for ~2.5 years.</li>
<li>Recently completed acquisition of APIRx Pharmaceuticals has strategically expanded intellectual property portfolio to 28 clinical programs, the world’s largest portfolio of patented medicinal cannabinoid drug formulations and psychedelic treatment protocols.</li>
<li>The combined annual global market size of the targeted indications is over $420 billion. The company’s strategy of combining cannabinoids with FDA-approved generic drugs calls for shorter regulatory pathway.</li>
</ul>



Incannex Healthcare (IHL AU) has a differentiated product portfolio, addressing unmet global medical needs. With cash balance of A$37.5 million, Incannex is well-resourced to fund its activities for ~2.5 years.
Recently completed acquisition of APIRx Pharmaceuticals has strategically expanded intellectual property portfolio to 28 clinical programs, the world’s largest portfolio of patented medicinal cannabinoid drug formulations and psychedelic treatment protocols.
The combined annual global market size of the targeted indications is over $420 billion. The company’s strategy of combining cannabinoids with FDA-approved generic drugs calls for shorter regulatory pathway.


Incannex Healthcare (IHL AU): Attractive Idea Backed by Niche Focus on Cannabinoid Pharmaceuticals

SK Biopharmaceuticals   / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sk-biopharmaceuticals-co-ltd" target="_blank" data-smartkarma-citation="entities:28966:1" rel="noopener">SK Biopharmaceuticals Co Ltd (326030 KS)</a> surpassed KRW400 billion sales last year, the highest since inception. The company targets more than doubling sales this year, through global expansion of cenobamate.</li>
<li>The company is expected to launch its third commercial drug, carisbamate (currently in phase 3 trial) in global market in 2025.  </li>
<li>On the back of robust 2021 financial performance, SK Biopharmaceuticals shares have recovered and reached to two-month high, thereby offering an attractive and confirming buying opportunity.</li>
</ul>



SK Biopharmaceuticals Co Ltd (326030 KS) surpassed KRW400 billion sales last year, the highest since inception. The company targets more than doubling sales this year, through global expansion of cenobamate.
The company is expected to launch its third commercial drug, carisbamate (currently in phase 3 trial) in global market in 2025.  
On the back of robust 2021 financial performance, SK Biopharmaceuticals shares have recovered and reached to two-month high, thereby offering an attractive and confirming buying opportunity.


SK Biopharmaceuticals (326030 KS): Highest Performance in 2021; Pipeline Progress Entails Visibility

<ul>
<li>Legal and regulatory changes have spawned cannabis companies, focused on cannabis-based medical and recreational products and the development of new breeds of crop </li>
<li>In Cannabis innovations <a href="https://www.smartkarma.com/entities/philip-morris-international" target="_blank" data-smartkarma-citation="entities:13328:1" rel="noopener">Philip Morris International (PM US)</a>, <a href="https://www.smartkarma.com/entities/canopy-growth-corp" target="_blank" data-smartkarma-citation="entities:25083:1" rel="noopener">Canopy Growth (WEED CN)</a>, <a href="https://www.smartkarma.com/entities/jazz-pharmaceuticals-plc" target="_blank" data-smartkarma-citation="entities:15881:1" rel="noopener">Jazz Pharmaceuticals (JAZZ US)</a><a href="https://www.smartkarma.com/entities/merck-co-inc" target="_blank" data-smartkarma-citation="entities:1130:1" rel="noopener">Merck &amp; Co Inc. (MRK US)</a> and <a href="https://www.smartkarma.com/entities/takeda-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:11747:1" rel="noopener">Takeda Pharmaceutical (4502 JP)</a> lead</li>
<li>In overall plant-based extracts innovations <a href="https://www.smartkarma.com/entities/jazz-pharmaceuticals-plc" target="_blank" data-smartkarma-citation="entities:15881:1" rel="noopener">Jazz Pharmaceuticals (JAZZ US)</a>, <a href="https://www.smartkarma.com/entities/eid-parry-india-ltd" target="_blank" data-smartkarma-citation="entities:6925:1" rel="noopener">Eid Parry India (EID IN)</a>, <a href="https://www.smartkarma.com/entities/abbott-laboratories" target="_blank" data-smartkarma-citation="entities:11987:1" rel="noopener">Abbott Laboratories (ABT US), </a>Indena, Mars Incorporated, and Liveleaf are the leaders.</li>
</ul>


Legal and regulatory changes have spawned cannabis companies, focused on cannabis-based medical and recreational products and the development of new breeds of crop 
In Cannabis innovations Philip Morris International (PM US), Canopy Growth (WEED CN), Jazz Pharmaceuticals (JAZZ US)Merck &amp; Co Inc. (MRK US) and Takeda Pharmaceutical (4502 JP) lead
In overall plant-based extracts innovations Jazz Pharmaceuticals (JAZZ US), Eid Parry India (EID IN), Abbott Laboratories (ABT US), Indena, Mars Incorporated, and Liveleaf are the leaders.


Insights from Data Mining Technical Publications - Plant Extracts Including from Cannabis

Ireland

Jazz Pharmaceuticals plc is a specialty biopharmaceutical company focused on improving patients' lives by identifying, developing and commercializing innovative products that address unmet medical needs. The company has a diverse portfolio of products in the areas of narcolepsy, oncology, pain and psychiatry.

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Jazz Pharmaceuticals (JAZZ US)

A Look at How a Portfolio Composed of Our Top Five Innovators in Each Report Would Have Performed

Our datamining reports ranks companies within thematic based on innovation quality. We see strong outperformance in a portfolio built using the top...

Pyari Menon

Boryung Pharmaceutical (003850 KS): Oncology Portfolio Expansion to Accelerate Growth Momentum

Boryung is expanding oncology portfolio and got approval for in-licensed drug, Zepzelca in Korea. During 2022–2026, oncology segment is expected to...

Tina Banerjee

Incannex Healthcare (IHL AU): Attractive Idea Backed by Niche Focus on Cannabinoid Pharmaceuticals

Incannex has 28+ drug candidates for broad range of under-met medical conditions representing major economic opportunities. The company is well...

Tina Banerjee

SK Biopharmaceuticals (326030 KS): Highest Performance in 2021; Pipeline Progress Entails Visibility

SKBP turned profitable in 2021 to report highest performance since its foundation. Geographic expansion of cenobamate and pipeline progress enhance...

Tina Banerjee

Insights from Data Mining Technical Publications - Plant Extracts Including from Cannabis

Herbal medicinal and nutraceutical extracts are seen as instruments to maintain health and treat some conditions. Cannabis, in particular, will see...

Pyari Menon

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