Taiwan Specialist

Julia Chien

Equity Bottom-Up

Pharmally Interenational Hol / Equity Bottom-Up

<blockquote>
In my previous report, "<a href="https://www.smartkarma.com/insights/it-s-the-year-of-the-mouse-bizlink-holding-inc-3665-tt-an-exclusive-harness-supplier-to-tesla" target="_blank" rel="noopener">It's The Year Of The "MOUSE", </a> our top investment themes for the Year of the Mouse are: Medical technology, Opportunity, Utilities, Semiconductor, Electrical Vehicle. Pharmally International Holding Co (6452 TT) is the key stock exposed to our Medical theme.
</blockquote>
We like Pharmally's prospects, based on the earnings drivers we see:
<ul>
<li>
Large Volume Parental (LVP) and Active Pharmaceutical Ingredient (API) sales in China are the main earnings driver. With positive policy support from the healthcare reforms and the "Thirteenth Five-Year Plan" measures, we expect the China healthcare sector to achieve faster consolidation and industry upgrades in the next five years. This should provide new expansion and M&amp;A opportunities, as well as ongoing margin expansion through economies of scale, enhanced operating efficiency and product upgrades. </li>
<li>
Pharmally should be helped by overseas market expansion. By expanding overseas, the company will diversify its pharmaceutical products, from the production of human pharmaceuticals to the production of animal vaccines. It will also speed up the global strategy of Pharmally, extending the market from China to Indonesia and even Asean.</li>
</ul>


In my previous report, "It's The Year Of The "MOUSE",  our top investment themes for the Year of the Mouse are: Medical technology, Opportunity, Utilities, Semiconductor, Electrical Vehicle. Pharmally International Holding Co (6452 TT) is the key stock exposed to our Medical theme.

We like Pharmally's prospects, based on the earnings drivers we see:


Large Volume Parental (LVP) and Active Pharmaceutical Ingredient (API) sales in China are the main earnings driver. With positive policy support from the healthcare reforms and the "Thirteenth Five-Year Plan" measures, we expect the China healthcare sector to achieve faster consolidation and industry upgrades in the next five years. This should provide new expansion and M&amp;A opportunities, as well as ongoing margin expansion through economies of scale, enhanced operating efficiency and product upgrades. 

Pharmally should be helped by overseas market expansion. By expanding overseas, the company will diversify its pharmaceutical products, from the production of human pharmaceuticals to the production of animal vaccines. It will also speed up the global strategy of Pharmally, extending the market from China to Indonesia and even Asean.


Pharmally International Holding Co (6452 TT) - Riding The Wave Of Reform

Taiwan

Pharmally International Holding Company Limited manufactures and sells large volume injections and pharmaceutical raw materials. The Company focuses on bulk drugs and infusion of production and development. Pharmally serves the Asian and Asian Pacific markets.

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Pharmally Interenational Hol (6452 TT)

Pharmally International Holding Co (6452 TT) - Riding The Wave Of Reform

In my previous report, "It's The Year Of The "MOUSE", our top investment themes for the Year of the Mouse are: Medical...

Julia Chien

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