In today’s briefing:
- Arrail Group (瑞尔集团) Pre-IPO: Peer Comp and Thoughts on Valuation
- Celltrion (068270 KS): Increasing Biosimilar Competition- Main Concerning Factor
Arrail Group (瑞尔集团) Pre-IPO: Peer Comp and Thoughts on Valuation
- Arrail is a leading dental service provider in China. The company is looking to raise up to USD100m via a Hong Kong listing.
- In our previous note, we looked at the company’s background, its operation, its financials, and its expansion plan.
- In this note, we compare the key metric with its peer and provide our thoughts on the valuation.
Celltrion (068270 KS): Increasing Biosimilar Competition- Main Concerning Factor
- Fierce competition is an industry-wide phenomena in biosimilar products. Despite being an early mover, Celltrion Inc (068270 KS) is also facing competition for its marketed biosimilars.
- The market share of Celltrion’s key biosimilar product, Remsima is declining. Other marketed and upcoming biosimilars also have multiple existing players.
- With the waning COVID-19 infections in the U.S., demand for Celltrion’s rapid test kits seems uncertain.
Before it’s here, it’s on Smartkarma
