Daily Brief Health Care: Sichuan Kelun Pharmaceutical, Baxter International and more

In today’s briefing:

Sichuan Kelun Pharmaceutical (002422.CH) – The Deal with Merck Brightens the Outlook; A Dark Horse?
Baxter International Inc.: Initiation of Coverage – Recent FDA Approvals & Other Drivers
Baxter International Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

Sichuan Kelun Pharmaceutical (002422.CH) – The Deal with Merck Brightens the Outlook; A Dark Horse?

Due to huge negative policy impact, the prospects of Kelun’s traditional businesses would be lackluster. However, the deal with MSD has completely changed Kelun’s investment logic.
For the two ADC drugs in the deal, there is a great chance for SKB264 to be eventually druggable. Kelun’s ADC technology is also keeping up with the times.
We deep dive the valuation of Kelun. The market’s perception of Kelun is still at the level of traditional businesses. The potential of its ADC pipeline hasn’t been priced in.

This is our first report on Baxter International, one of the largest players in the domain of dialysis therapies and other healthcare products.
The overall demand for products across the Baxter and traditional Hillrom portfolios continues to be strong.
We initiate coverage on the stock of Baxter International with a ‘Buy’ rating.

Baxter International is a giant within the space of dialysis therapies and other healthcare products.
The company’s recent financial results have been decent despite the fact that sales were impacted by specific supply chain-related issues.
The overall demand for products across the Baxter and traditional Hillrom portfolios continues to be strong.

💡 Before it’s here, it’s on Smartkarma

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network