In today’s briefing:
- TIGER Top 10 Rebalancing: Four Names to Trade on T-1 Effective
- Hisamitsu Pharmaceutical (4530 JP): Set to Benefit from Roaring OTC Business and New Rx Drug Launch
- China Healthcare Weekly (Dec.2)- VBP Correction, Sales Ability Overweigh R&D, Expectation Difference
TIGER Top 10 Rebalancing: Four Names to Trade on T-1 Effective
- Kakao managed to stay out of the relegation zone. Instead, Kia was pushed to the borderline. But POSCO failed to up its float rate, so Kia stayed in.
- Besides that, LG Energy Solution and Celltrion made it to the index, replacing KB Financial and Shinhan Financial.
- These passive flows appears to be of sufficient magnitude to cause a substantial price impact on T-1 Effectiveness. But it should also be approached with a fairly short window.
Hisamitsu Pharmaceutical (4530 JP): Set to Benefit from Roaring OTC Business and New Rx Drug Launch
- Hisamitsu Pharmaceutical Co (4530 JP) reported revenue growth of 8% y/y and 26% q/q to ¥33B in Q2FY23, mainly driven by a 14% y/y 47% q/q increase in OTC business.
- This year, the company received FDA approval for Xelstrym transdermal system for ADHD. Xelstrym is the first-and-only FDA-approved transdermal amphetamine patch.
- With the resumption of sporting/outdoor events in Japan, Salonpas is expected to continue its growth trajectory. For FY23, Hisamitsu is targeting Salonpas revenue of ¥32.5 billion (+4.5% y/y).
China Healthcare Weekly (Dec.2)- VBP Correction, Sales Ability Overweigh R&D, Expectation Difference
- The renewal results of coronary stent centralized procurement reflected that the government’s attitude towards the price reduction in VBP has changed, who tend to correct the excessively low price.
- Investors’d better not to have such a misconception that they only attach importance to R&D rather than commercialization. Only if sales ability is verified can enterprises have better valuation premium.
- Investors are advised to find the targets that are in “sector resonance” but also has “difference in expectations”. Ecology of innovative drug has changed, such as Remegen (688331 CH).
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars