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

Understanding Drug Imbursement Price Cuts in China

Asian Healthcare Spend as a Percentage of GDP – the Laggards

Novo Nordisk: Is the FDA Approval of Wegovy Worth an Extra $460 Bn?

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

<ul>
<li>A high disease burden, high demand for chronic treatment, and an ageing population makes China an excellent opportunity for an established pharma company.</li>
<li>With 1/3 of the market cap in cash, a healthy payout ratio, and a FPE of under 8, CMS is one of the bargain beneficiaries in the Chinese healthcare space.</li>
<li>The founder/CEO recently purchased 8m shares. He last bought shares in 2020-2021. The share price almost tripled afterwards.</li>
</ul>


A high disease burden, high demand for chronic treatment, and an ageing population makes China an excellent opportunity for an established pharma company.
With 1/3 of the market cap in cash, a healthy payout ratio, and a FPE of under 8, CMS is one of the bargain beneficiaries in the Chinese healthcare space.
The founder/CEO recently purchased 8m shares. He last bought shares in 2020-2021. The share price almost tripled afterwards.


UPDATE: China Medical System (CMS, 867 HK) – A Cheap Play on China’s Pending Health Care Crisis