SciClone Pharma (赛生药业) Pre-IPO: PHIP Updates and Thoughts on Valuation

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Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

Equity Capital Markets

Sciclone Pharmaceuticals / Equity Capital Markets

<p>SciClone Pharmaceuticals is a China-based company that has filed to list on the HKEX. The company primarily sells products in-licensed from third parties and provides promotion services. We expect concerns about Volume-Based Procurement for Zadaxin to weigh on the valuation until new products can offset potential pressures. As a result, we would pass on the deal. </p>

SciClone Pharmaceuticals is a China-based company that has filed to list on the HKEX. The company primarily sells products in-licensed from third parties and provides promotion services. We expect concerns about Volume-Based Procurement for Zadaxin to weigh on the valuation until new products can offset potential pressures. As a result, we would pass on the deal. 

Hainan Shuangcheng Phrmcutcls (002693 CH)

SciClone Pharmaceuticals: Caged by the Elephant