WuXi Biologics – The Foxconn or Qualcomm of Global CDMO?

Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

Equity Bottom-Up

<p>Hong Kong Exchanges and Clearing Limited (HKEX) has decided to modify its rules to allow "pre-commercial" biopharmaceutical (aka biotechnology) companies to list on the exchange. This move reflects the progress of China's biopharmaceutical industry and offers new competition to Taipei and New York as listing venues. Some companies will avail themselves of this opportunity, but we think that a majority of 2018's listings will choose New York (NASDAQ/NYSE).</p>

Hong Kong Exchanges and Clearing Limited (HKEX) has decided to modify its rules to allow "pre-commercial" biopharmaceutical (aka biotechnology) companies to list on the exchange. This move reflects the progress of China's biopharmaceutical industry and offers new competition to Taipei and New York as listing venues. Some companies will avail themselves of this opportunity, but we think that a majority of 2018's listings will choose New York (NASDAQ/NYSE).

"Exchange Arbitrage" For Early-Stage Biotech!

Wuxi Biologics

"Exchange Arbitrage" For Early-Stage Biotech!