EM Health Care: Late Cycle Rotation
Emerging Market Health Care allocations sit towards the lower end of their 7-year range. Current levels are off their 2015 highs by a margin, with...
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China Medical Devices: "Two-Invoice" Is Coming
Sinopharm Group Co H (1099 HK) 's pending acquisition of a majority interest in China National Scientific Instruments and Materials Co. Ltd....
625 Views
Sinopharm (1099 HK): Top Distributor of Pharma Products in China
Cheap on a gross profit basis, slow asset growth, and high level of cash sales relative to its sector Sinopharm is the top distributor of pharma...
113 Views
Initiating Coverage of Sinopharm with Narrow Moat Rating, FVE of HKD 36 Per Share
We initiate coverage of Sinopharm Group Co (H) (1099 HK) with a narrow moat rating and a fair value estimate of HKD 36 per share, implying a 2018...
104 Views
China Drug Distribution: More "Two Invoice" Changes
The restructuring of China's drug distribution industry continues with Baiyunshan Phrmcl Hldgs Co Ltd (874 HK)'s pending buyout of Walgreens Boots...
424 Views