HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 15 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

China Healthcare Weekly (Nov.10) - 9th National VBP, Cyclicity of CXO Sector, Asymchem, Hengrui

China Healthcare Weekly (Nov.17) - 2023 NRDL Negotiation, Financing Data Won't Lie, Intco Medical

China's Weight Loss Drug Market – The Investment Opportunities and the Risks Behind

GLP-1 Drugs – Are They Dessert or Time Bomb to Your Portfolio?

WuXi AppTec (2359.HK/603259.CH) - Would the Recent Rebound in Share Price Be a Flash in the Pan?

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Bottom-Up

Asymchem Laboratories Tianjin / Equity Bottom-Up

Asymchem Laboratories Tianjin (002821 CH)

<ul>
<li>CDMO business usually have higher certainty/profit margin, and would be affected by the deterioration of overseas financing environment much later than CRO business. So, we prefer Asymchem to WuXi AppTec.</li>
<li>Total market size of GLP-1s could exceed the sum of semaglutide + the vast majority of chronic disease drugs.No matter how GLP-1s expand indications, Asymchem has the opportunity to benefit.</li>
<li>Asymchem needs to secure a large order related to GLP-1 drugs. Such big catalyst would certainly boost stock price, just like when COVID-19 order was received in November 2021.</li>
</ul>


CDMO business usually have higher certainty/profit margin, and would be affected by the deterioration of overseas financing environment much later than CRO business. So, we prefer Asymchem to WuXi AppTec.
Total market size of GLP-1s could exceed the sum of semaglutide + the vast majority of chronic disease drugs.No matter how GLP-1s expand indications, Asymchem has the opportunity to benefit.
Asymchem needs to secure a large order related to GLP-1 drugs. Such big catalyst would certainly boost stock price, just like when COVID-19 order was received in November 2021.


Asymchem Laboratories (6821.HK/002821.CH) - A Heartening Rise in Share Price Could Be Drawing Near