In today’s briefing:
- Mankind Pharma Pre-IPO Tearsheet
- Remegen Co Ltd (9995.HK) 22H1 – Mr. Market’s “Misjudgment” Brings Opportunities to Make Money
- Jenscare (宁波健世科技) Pre-IPO: Massive Delays After Missing the Boat
- Access Bio (950130 KS): COVID-19 Rapid Tests Demand Lose Sheen Sending Share Prices Down to Lows
Mankind Pharma Pre-IPO Tearsheet
- Mankind Pharma Ltd (6596876Z IN) is looking to raise about US$1bn in its upcoming India IPO. The deal will be run by Kotak, Axis Capital, IIFL Securities, Jefferies and JPM.
- Mankind Pharma (MK) is a pharmaceutical company engaged in developing, manufacturing and marketing a range of pharmaceutical formulations across various therapeutic areas, as well as several consumer healthcare products.
- It is mainly focused on the domestic market. 18 of its brands were among the 300 highest selling brands in the Indian Pharmaceutical Market (IPM), according to IQVIA.
Remegen Co Ltd (9995.HK) 22H1 – Mr. Market’s “Misjudgment” Brings Opportunities to Make Money
- For RC18, it depends on whether RemeGen can seize this short period of strategic opportunities to further establish its leading position. The situation faced by RC48 is much more complex.
- From the current situation, it’s very challenging for RemeGen to evolve into biopharma.That is to say, RemeGen’s future positioning is still likely to remain a biotech, which limits valuation expansion.
- Even based on conservative forecast, there’s still decent upside potential. We’re bullish on RemeGen. Due to unfriendly macro, investors may need to consider the potential downside risks when going long.
Jenscare (宁波健世科技) Pre-IPO: Massive Delays After Missing the Boat
- Jenscare, a China based structural heart disease focused medical device company, plans to raise up to USD 30m via a Hong Kong listing.
- In our previous insight, we discussed that there have been many TAVR companies listed in Hong Kong but we think Jenscare has a differentiated portfolio.
- In this note, we will look at updates in its latest filing and highlight massive delays in its product candidates. We also provide a quick thought on its valuation.
Access Bio (950130 KS): COVID-19 Rapid Tests Demand Lose Sheen Sending Share Prices Down to Lows
- Access Bio Inc (950130 KS) has been reporting triple-digit revenue growth since 2020, thanks to massive demand for the COVID-19 tests. The performance continued in this year too.
- Going forward, the stellar revenue growth is not expected to be replicated as demand for COVID-19 tests looks uncertain beyond 2022. Revenue from the company’s malaria test is declining.
- Access Bio has developed monkeypox tests. However, monkeypox does not seem be a large and attractive market opportunity, which can compensate for the revenue loss from COVID-19 tests.
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