Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>Jiangsu Hengrui Medicine launches Hong Kong IPO to raise ~$1.3B. Wuxi Biologics is selling its drug product plant in Germany to Terumo for €150M.</li>
<li>Chugai Pharmaceutical got conditional approval in Japan for gene therapy product, Elevidys for Duchenne muscular dystrophy. GC Biopharma dosed first patient in Fabry disease drug trial in Korea.</li>
<li>Mayne Pharma was hit hard as an ‘untitled letter’ from the FDA related to certain promotional claims used in a speaker presentation for oral contraceptive Nextstellis, was made public.  </li>
</ul>


Jiangsu Hengrui Medicine launches Hong Kong IPO to raise ~$1.3B. Wuxi Biologics is selling its drug product plant in Germany to Terumo for €150M.
Chugai Pharmaceutical got conditional approval in Japan for gene therapy product, Elevidys for Duchenne muscular dystrophy. GC Biopharma dosed first patient in Fabry disease drug trial in Korea.
Mayne Pharma was hit hard as an ‘untitled letter’ from the FDA related to certain promotional claims used in a speaker presentation for oral contraceptive Nextstellis, was made public.  


APAC Healthcare Weekly (May 18)-Hengrui Medicine, Wuxi Biologics, Chugai, GC Biopharma, Mayne Pharma

<ul>
<li>U.S. has implemented a universal baseline tariff of 10%, effective April 5. Japan faces 24% reciprocal tariff from April 9.</li>
<li>In 2023, Japan exported pharmaceutical products worth $6.34B (~43% of total exports) to the U.S.</li>
<li>Japanese pharma and medical devices companies have significant revenue exposure to the U.S.</li>
</ul>


U.S. has implemented a universal baseline tariff of 10%, effective April 5. Japan faces 24% reciprocal tariff from April 9.
In 2023, Japan exported pharmaceutical products worth $6.34B (~43% of total exports) to the U.S.
Japanese pharma and medical devices companies have significant revenue exposure to the U.S.


US Tariff Impact on APAC Healthcare: Focus Country- JAPAN

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

<ul>
<li>Power/Analog semi names were buoyed by Microchip Tech comments for a downcycle inflection.</li>
<li>JP Heavies MHI and KHI both failed to impress on Friday, but MHI may see interest on news for possible jet export.</li>
<li>Trump looking to cut pharma costs by 30-80% will add to the uncertainty for JP pharma with high medicare and medicaid exposure.</li>
</ul>


Power/Analog semi names were buoyed by Microchip Tech comments for a downcycle inflection.
JP Heavies MHI and KHI both failed to impress on Friday, but MHI may see interest on news for possible jet export.
Trump looking to cut pharma costs by 30-80% will add to the uncertainty for JP pharma with high medicare and medicaid exposure.


Japan Morning Connection: US-China Talks End on Positive Note Adding to the Bullish Tone to Start

<ul>
<li>Mixed bag for tech earnings over the Japan long w/e with Lattice, Palantir and On Semi down, Lumentum and Coreweave up.</li>
<li>SMCI cutting guidance a mere 1-week after releasing prem numbers threatens to erode confidence in management.</li>
<li>Pharma will be under pressure after the FDA's picks a perceived vaccine hawk for its Center for Biologics and Research and Trump hints at price pressures.</li>
</ul>


Mixed bag for tech earnings over the Japan long w/e with Lattice, Palantir and On Semi down, Lumentum and Coreweave up.
SMCI cutting guidance a mere 1-week after releasing prem numbers threatens to erode confidence in management.
Pharma will be under pressure after the FDA's picks a perceived vaccine hawk for its Center for Biologics and Research and Trump hints at price pressures.


Japan Morning Connection: Indian-Pakistan Tensions Adding to Geopolitical Concern

<ul>
<li>Prescription drug sales in Japan in FY25 increased 0.6% YoY to ¥10.8T on an NHI price basis. Takeda Pharmaceutical and Daiichi Sankyo remained the top 2 pharmaceutical companies.</li>
<li>Samsung Biologics signed $514M CDMO deal with an undisclosed U.S.-based pharmaceutical company. Celltrion has received approval in Korea to conduct phase 3 clinical trial for its Keytruda biosimilar candidate CT-P51.</li>
<li>Dr. Reddy’s Laboratories expands its strategic partnership with Sanofi to introduce RSV drug, Beyfortus in India. Medanta is entering North-East India by building a 400-bed super specialty hospital in Guwahati.</li>
</ul>


Prescription drug sales in Japan in FY25 increased 0.6% YoY to ¥10.8T on an NHI price basis. Takeda Pharmaceutical and Daiichi Sankyo remained the top 2 pharmaceutical companies.
Samsung Biologics signed $514M CDMO deal with an undisclosed U.S.-based pharmaceutical company. Celltrion has received approval in Korea to conduct phase 3 clinical trial for its Keytruda biosimilar candidate CT-P51.
Dr. Reddy’s Laboratories expands its strategic partnership with Sanofi to introduce RSV drug, Beyfortus in India. Medanta is entering North-East India by building a 400-bed super specialty hospital in Guwahati.


APAC Healthcare Weekly (May 4)- Takeda Pharma, Samsung Biologics, Celltrion, Dr. Reddy’s, Medanta

Japan

Takeda Pharmaceutical Co Ltd focuses on the Research & Development, Manufacturing, Sales and Marketing and Import/Export of Pharmaceutical Drugs. The Company focuses on the following core therapeutic areas: Cardiovascular & Metabolic, Oncology, Central Nervous System, Respiratory & Immunology, General Medicine (Gastrointestinal & Genitourinary) and Vaccine.

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Takeda Pharmaceutical (4502 JP)

APAC Healthcare Weekly (May 18)-Hengrui Medicine, Wuxi Biologics, Chugai, GC Biopharma, Mayne Pharma

Jiangsu Hengrui launches HK IPO. Wuxi Biologics to sell Germany plant. Chugai got Japan approval for gene therapy. Mayne Pharma was hit as FDA...

Tina Banerjee

US Tariff Impact on APAC Healthcare: Focus Country- JAPAN

Trump is expected to sign an executive order to lower prescription drug prices. The question about the feasibility of implementation of Trump’s...

Tina Banerjee

Japan Morning Connection: US-China Talks End on Positive Note Adding to the Bullish Tone to Start

Tech names outperformed the market led by analog/MPU/power semiconductor manufacturer Microchip Technology. Uncertainty for JP Pharma as Trump...

Andrew Jackson

Japan Morning Connection: Indian-Pakistan Tensions Adding to Geopolitical Concern

Tech earnings in Japan were mixed over the long weekend. Pharma faces pressure from FDA pick and potential price pressures. China talk...

Andrew Jackson

APAC Healthcare Weekly (May 4)- Takeda Pharma, Samsung Biologics, Celltrion, Dr. Reddy’s, Medanta

Takeda retained top slot in domestic market. Samsung Biologics signed major CDMO deal with US client. Celltrion got approval to start trial of...

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

APAC Healthcare Weekly (May 18)-Hengrui Medicine, Wuxi Biologics, Chugai, GC Biopharma, Mayne Pharma

Jiangsu Hengrui launches HK IPO. Wuxi Biologics to sell Germany plant. Chugai got Japan approval for gene therapy. Mayne Pharma was hit as FDA...

Tina Banerjee

US Tariff Impact on APAC Healthcare: Focus Country- JAPAN

Trump is expected to sign an executive order to lower prescription drug prices. The question about the feasibility of implementation of Trump’s...

Tina Banerjee

Japan Morning Connection: US-China Talks End on Positive Note Adding to the Bullish Tone to Start

Tech names outperformed the market led by analog/MPU/power semiconductor manufacturer Microchip Technology. Uncertainty for JP Pharma as Trump...

Andrew Jackson

Japan Morning Connection: Indian-Pakistan Tensions Adding to Geopolitical Concern

​Tech earnings in Japan were mixed over the long weekend. Pharma faces pressure from FDA pick and potential price pressures. China talk...

Andrew Jackson

APAC Healthcare Weekly (May 4)- Takeda Pharma, Samsung Biologics, Celltrion, Dr. Reddy’s, Medanta

Takeda retained top slot in domestic market. Samsung Biologics signed major CDMO deal with US client. Celltrion got approval to start trial of...

Tina Banerjee

Tech earnings in Japan were mixed over the long weekend. Pharma faces pressure from FDA pick and potential price pressures. China talk...