Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>Sino Biopharmaceutical received approval for Benmelstobart plus Anlotinib for alveolar soft part sarcoma in China. Wuxi Biologics announced that three of its manufacturing facilities received GMP certification from South Korea.</li>
<li>Astellas Pharma has been granted Priority Review status by the FDA for indication expansion application for Padcev. Eisai’s Phase 3 trial evaluating Lenvima in RCC did not meet primary endpoints.</li>
<li>Celltrion started patient dosing for three of its novel ADC-based anticancer drug candidates. Cochlear has reduced FY26 underlying net profit guidance to A$290–330M from A$435–460M.</li>
</ul>


Sino Biopharmaceutical received approval for Benmelstobart plus Anlotinib for alveolar soft part sarcoma in China. Wuxi Biologics announced that three of its manufacturing facilities received GMP certification from South Korea.
Astellas Pharma has been granted Priority Review status by the FDA for indication expansion application for Padcev. Eisai’s Phase 3 trial evaluating Lenvima in RCC did not meet primary endpoints.
Celltrion started patient dosing for three of its novel ADC-based anticancer drug candidates. Cochlear has reduced FY26 underlying net profit guidance to A$290–330M from A$435–460M.


APAC Healthcare Weekly (April 26) – Sino Bio, Wuxi Bio, Astellas Pharma, Eisai, Celltrion, Cochlear

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Equity Capital Markets

Shanghai Putailai New Energy T / Equity Capital Markets

Shanghai Putailai New Energy T (603659 CH)

<ul>
<li>Putailai, a lithium-ion battery materials and equipment supplier, is seeking an A+H listing. CICC is the sole sponsor.</li>
<li>We look at the company's core segments: battery key materials and battery automation equipment.</li>
<li>We discuss our preliminary thoughts on the company's valuation based on the A-H premium.</li>
</ul>


Putailai, a lithium-ion battery materials and equipment supplier, is seeking an A+H listing. CICC is the sole sponsor.
We look at the company's core segments: battery key materials and battery automation equipment.
We discuss our preliminary thoughts on the company's valuation based on the A-H premium.


Putailai (璞泰来) A+H Pre-IPO: Early Thoughts

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

<ul>
<li>Stargate delays hitting semi-caps, while Texas Instruments cautious tone hitting power-semi's after hours.</li>
<li>Medical tech solution names IQVIA and Medpace surge may aid M3.</li>
<li>DR Hortons's numbers beat sparking enormous short squeeze for Home Builders - Sumitomo Forestry to follow.</li>
</ul>


Stargate delays hitting semi-caps, while Texas Instruments cautious tone hitting power-semi's after hours.
Medical tech solution names IQVIA and Medpace surge may aid M3.
DR Hortons's numbers beat sparking enormous short squeeze for Home Builders - Sumitomo Forestry to follow.


Japan Morning Connection: Trump Announces 15% Tariffs on Japan but Details Remain Scarce

<ul>
<li>Japan SPE names starting to stir day 1 of trading.</li>
<li>Watch oversold previous winners for renewed interest such as Disco, Screen and TEL now China concerns are priced in.</li>
<li>A good read for photoresist/semi-chem plays after TOK's better than expected MTP yesterday.</li>
</ul>


Japan SPE names starting to stir day 1 of trading.
Watch oversold previous winners for renewed interest such as Disco, Screen and TEL now China concerns are priced in.
A good read for photoresist/semi-chem plays after TOK's better than expected MTP yesterday.


AI Related Plays Out of the Gates Strong for 2025

<ul>
<li>Strong tech rebound off the morning lows with AI related names starting to pick up favour again helped by good numbers from Oracle.</li>
<li>The hefty price tag for Sony's PS5 Pro is unlikely to appeal to casual gamers, but should still boost sales in the interim as a mid-cycle boost for the PlayStation.</li>
<li>Fujitsu's IR day yesterday sets an upbeat tone, but lacks catalysts which could help push the stock to new highs.</li>
</ul>


Strong tech rebound off the morning lows with AI related names starting to pick up favour again helped by good numbers from Oracle.
The hefty price tag for Sony's PS5 Pro is unlikely to appeal to casual gamers, but should still boost sales in the interim as a mid-cycle boost for the PlayStation.
Fujitsu's IR day yesterday sets an upbeat tone, but lacks catalysts which could help push the stock to new highs.


Japan Morning Connection: Rotation Towards AI May See Japan SPE Gains

Japan

ASAHI KASEI CORPORATION produces synthetic fibers, industrial chemicals, petrochemicals, plastics (resins), and synthetic rubber.  The Company also operates and sells real estates, pharmaceuticals, medical equipments, electronics, construction materials, and consumer products.

Price Gauge
52-week Range	0.00 - 0.00
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Asahi Kasei (3407 JP)

APAC Healthcare Weekly (April 26) – Sino Bio, Wuxi Bio, Astellas Pharma, Eisai, Celltrion, Cochlear

Sino Bio got fourth indication approval for Benmelstobart plus Anlotinib. Wuxi Biologics’ three facilities got Korean GMP certification. FDA...

Tina Banerjee

Putailai (璞泰来) A+H Pre-IPO: Early Thoughts

Putailai is seeking an A+H listing. In this note, we look at the company's business, its industry context and provide our early thoughts on valuation.

Ke Yan, CFA, FRM

Japan Morning Connection: Trump Announces 15% Tariffs on Japan but Details Remain Scarce

Tech risk off with delays for Stargate. Texas Instruments cautious tone affects power-semi's. M3 may benefit from Medspace surge. DR Horton's beat...

Andrew Jackson

Japan Morning Connection: Rotation Towards AI May See Japan SPE Gains

AI names gaining favor with Oracle's positive numbers. Sony's PS5 Pro may not attract casual gamers but could boost sales as a mid-cycle upgrade....

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

APAC Healthcare Weekly (April 26) – Sino Bio, Wuxi Bio, Astellas Pharma, Eisai, Celltrion, Cochlear

Sino Bio got fourth indication approval for Benmelstobart plus Anlotinib. Wuxi Biologics’ three facilities got Korean GMP certification. FDA...

Tina Banerjee

Putailai (璞泰来) A+H Pre-IPO: Early Thoughts

Putailai is seeking an A+H listing. In this note, we look at the company's business, its industry context and provide our early thoughts on valuation.

Ke Yan, CFA, FRM

Japan Morning Connection: Trump Announces 15% Tariffs on Japan but Details Remain Scarce

Tech risk off with delays for Stargate. Texas Instruments cautious tone affects power-semi's. M3 may benefit from Medspace surge. DR Horton's beat...

Andrew Jackson

AI Related Plays Out of the Gates Strong for 2025

​Watch JP SPE oversold previous winners like Disco, Screen, and TEL gaining renewed interest. A good read for photoresist/semi-chem plays after...

Andrew Jackson

Japan Morning Connection: Rotation Towards AI May See Japan SPE Gains

AI names gaining favor with Oracle's positive numbers. Sony's PS5 Pro may not attract casual gamers but could boost sales as a mid-cycle upgrade....

Andrew Jackson

Watch JP SPE oversold previous winners like Disco, Screen, and TEL gaining renewed interest. A good read for photoresist/semi-chem plays after...