Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

Equity Bottom-Up

Alibaba Health Information Tec / Equity Bottom-Up

This Insight summarizes the takeaways from a recent China healthcare industry conference focused on biopharmaceuticals and medical devices, and builds on our Originals Insight <a href="https://www.smartkarma.com/insights/asian-healthcare-coming-of-age" target="_blank" data-smartkarma-citation="insights:45676" rel="noopener">Asian Healthcare - Coming of Age</a>.  Topics addressed include value-based purchasing for drugs and devices; development of commercial health insurance; internet hospitals and online pharmacies; DRGs for hospitals; issues for medical device companies; and amendments to China's patent laws.

This Insight summarizes the takeaways from a recent China healthcare industry conference focused on biopharmaceuticals and medical devices, and builds on our Originals Insight Asian Healthcare - Coming of Age.  Topics addressed include value-based purchasing for drugs and devices; development of commercial health insurance; internet hospitals and online pharmacies; DRGs for hospitals; issues for medical device companies; and amendments to China's patent laws.

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Sciclone Pharmaceuticals / Equity Capital Markets

SciClone Pharma was founded in the US but has a focus on sales of oncology and infectious disease drugs in China. The company plans to raise up to USD 500m via a listing in Hong Kong.
The company has a long history but has a heavy reliance on a single drug Zadaxin which has dubious efficacy as it has not managed to obtain FDA approval for its otherwise approved indication in China. 
The company tried to expand the indication based on its ability to enhance the immune system to fight against diseases.
The company's near term revenue driver mainly comes from the consolidation of the sales from Pfizer products after transfer of rights. However, we think the products from both Pfizer and Baxter are not attractive overall. The products from Baxter have been in the market for decades. 
Quality of the management team is mediocre with a focus on sales experience and not R&amp;D experience. So is the quality of financial investors which are mostly domestic private equity funds.

SciClone Pharma was founded in the US but has a focus on sales of oncology and infectious disease drugs in China. The company plans to raise up to USD 500m via a listing in Hong Kong.
The company has a long history but has a heavy reliance on a single drug Zadaxin which has dubious efficacy as it has not managed to obtain FDA approval for its otherwise approved indication in China. 
The company tried to expand the indication based on its ability to enhance the immune system to fight against diseases.
The company's near term revenue driver mainly comes from the consolidation of the sales from Pfizer products after transfer of rights. However, we think the products from both Pfizer and Baxter are not attractive overall. The products from Baxter have been in the market for decades. 
Quality of the management team is mediocre with a focus on sales experience and not R&amp;D experience. So is the quality of financial investors which are mostly domestic private equity funds.

SciClone Pharma (赛生药业) Pre-IPO: Rejuvenation of Old Drugs

China

SciClone Pharmaceuticals (Holdings) Limited operates as a biopharmaceutical company. The Company develops produces and sells oncology drug, infectious diseases drugs and other products. SciClone Pharmaceuticals (Holdings) markets its products throughout China.

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Sciclone Pharmaceuticals (6600 HK)

China Healthcare: Macro Themes

This Insight summarizes the takeaways from a recent China healthcare industry conference. There is much talk of pressures on the industry, but...

Kemp Dolliver, CFA

SciClone Pharma (赛生药业) Pre-IPO: Rejuvenation of Old Drugs

SciClone Pharma was founded in the US but has a focus on sales of oncology and infectious disease drugs in China. The company plans to raise up to...

Ke Yan, CFA, FRM

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