Healthcare equity analyst - emerging & dev mkts, daaimon

Avien Pillay

A multi-skilled investment professional with 20+ years’ experience in the developed and emerging markets across all sectors, and a strong focus on healthcare. Most of my time has been spent as a buyside and independent equity analyst. My approach is a combination of bottom-up and top-down analysis, with a strong bias to qualitative analysis.

Healthcare equity analyst - emerging & dev mkts

daaimon

daaimon is an independent research company focusing on healthcare and consumer sectors across developed and emerging markets. We produce insightful research which challenges conventional thinking. In particular, we look for new ideas by testing consensus forecasts and markets expectations.

Equity Bottom-Up

The United Laboratories International Holdings Limited / Equity Bottom-Up

The United Laboratories International Holdings Limited (3933 HK)

The United Laboratories International Holdings Limited

<ul>
<li>At a 4.6 FPE, you would expect to find some real concerns, however there are no gremlins anywhere?  </li>
<li>What you are buying is an antibiotic developer and distributor who is performing better than expected, given that the antibiotic market is thriving.</li>
<li>The extensive pipeline including GLP-1 drugs is still at an early stage/midway through development, however at this valuation, you are probably not paying for it!</li>
</ul>


At a 4.6 FPE, you would expect to find some real concerns, however there are no gremlins anywhere?  
What you are buying is an antibiotic developer and distributor who is performing better than expected, given that the antibiotic market is thriving.
The extensive pipeline including GLP-1 drugs is still at an early stage/midway through development, however at this valuation, you are probably not paying for it!


The United Laboratories Company Ltd (3933 HK) - A Sub Five PE Bargain!