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 (Jul.14)-TCM Demand Switch, 8% Benchmark Growth Rate, GLP-1 Change Game Rule

China Population Policies Impact on Healthcare Companies Series - Part 1

Pre-IPO Edding Group - CSO Model Is Hard to Sustain, but Business Transformation Faces Challenges

BeiGene (6160.HK/BGNE.US) - Miracles Don't Always Happen

BeiGene (6160.HK/BGNE.US) 23Q1 - Qualitative Changes Are Taking Place

BeiGene (6160.HK/​BGNE.US) - AbbVie‘s Patent Infringement Allegations Are Not as Simple as Imagined

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

Equity Bottom-Up

<ul>
<li>BeiGene and Novartis mutually terminate the Option Agreement on ociperlimab. Our interpretation is Novartis may think its clinical data wouldn’t meet expectations, and is therefore unwilling to take the risk.</li>
<li>Theoretically, BeiGene still has the possibility of creating miracles to turn things around, but based on the current situation, the risk of TIGIT project failure is already very high.</li>
<li>We suggest that investors can reduce the position of BeiGene in advance or even consider offload entirely (In case its stock price falls due to unsatisfactory clinical data in 23H2).</li>
</ul>


BeiGene and Novartis mutually terminate the Option Agreement on ociperlimab. Our interpretation is Novartis may think its clinical data wouldn’t meet expectations, and is therefore unwilling to take the risk.
Theoretically, BeiGene still has the possibility of creating miracles to turn things around, but based on the current situation, the risk of TIGIT project failure is already very high.
We suggest that investors can reduce the position of BeiGene in advance or even consider offload entirely (In case its stock price falls due to unsatisfactory clinical data in 23H2).


BeiGene (6160.HK/​BGNE.US) - Novartis Chose to Escape Before Tragedy of TIGIT Truly Comes

BeiGene

BeiGene (6160.HK/​BGNE.US) - Novartis Chose to Escape Before Tragedy of TIGIT Truly Comes

BeiGene (6160.HK/BGNE.US) - Novartis Chose to Escape Before Tragedy of TIGIT Truly Comes