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 (May.5) - Overvaluation in Primary Market, RDC to Be Hot Spot, Yiling Pharma

China Healthcare Weekly (May12)-Policy Catalyst in Medical Device, GLP-1 Overvaluation, Pientzehuang

Tiantan (600161CH) To Acquire Weiguang (002880CH)- New King Rises in China's Blood Products Industry

China Healthcare Weekly (Apr.21) - M&As in Biotech, Capital Is Bullish on Non-Tumor Sectors, Tofflon

China TCM (570.HK) - Latest Updates on Privatization and the Potential Merger with Taiji Group

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

Equity Bottom-Up

Gan & Lee Pharmaceuticals / Equity Bottom-Up

<ul>
<li>The performance of most TCM formula granule enterprises showed slow growth or even decline due to VBP in 2023. Although VBP will continue, it also brings opportunities for related companies. </li>
<li>Customized production, expensive upstream raw materials/production equipment, complex supply chain systems, etc. are all major reasons for the high prices of CAR-T therapy, but we see hope for changes.</li>
<li>
<a href="https://www.smartkarma.com/entities/gan-lee-pharmaceuticals-co-ltd" target="_blank" data-smartkarma-citation="entities:36237:1" rel="noopener">Gan &amp; Lee Pharmaceuticals (603087 CH)</a>’s core insulin business will continue to have decent growth based on positive VBP renewal results. It's expected that in 2024, performance would further rebound.</li>
</ul>


The performance of most TCM formula granule enterprises showed slow growth or even decline due to VBP in 2023. Although VBP will continue, it also brings opportunities for related companies. 
Customized production, expensive upstream raw materials/production equipment, complex supply chain systems, etc. are all major reasons for the high prices of CAR-T therapy, but we see hope for changes.

Gan &amp; Lee Pharmaceuticals (603087 CH)’s core insulin business will continue to have decent growth based on positive VBP renewal results. It's expected that in 2024, performance would further rebound.


China Traditional Chinese Medicine (570 HK)

China Resources Sanjiu Medical & Pharma (000999 CH)

China Healthcare Weekly (Apr.28)-TCM Formula Granule Outlook, Reduce CAR-T's Price, Gan & Lee Pharma