HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

<ul>
<li>Innovent is expected to transform from a biotech to a biopharma. From the present point of view, the Company is a better comprehensive choice of certainty, elasticity and safety.  </li>
<li>With high R&amp;D efficiency, strong sales capability, top talent teams, and mindset keeping pace with the times, investors could consider to replace Hengrui with Innovent in the portfolio.  </li>
<li>Innovent’s valuation anchor is HK$40 billion, below which it's undervalued. Its market value could reach about RMB80 billion to RMB120 billion, based on sales of RMB10 billion to RMB15 billion. </li>
</ul>


Innovent is expected to transform from a biotech to a biopharma. From the present point of view, the Company is a better comprehensive choice of certainty, elasticity and safety.  
With high R&amp;D efficiency, strong sales capability, top talent teams, and mindset keeping pace with the times, investors could consider to replace Hengrui with Innovent in the portfolio.  
Innovent’s valuation anchor is HK$40 billion, below which it's undervalued. Its market value could reach about RMB80 billion to RMB120 billion, based on sales of RMB10 billion to RMB15 billion. 


Innovent Biologics Inc (1801.HK) - Innovent Is Not Optional but Necessary in Portfolio

<ul>
<li>The biggest characteristic of <a href="https://www.smartkarma.com/entities/innovent-biologics-inc" target="_blank" data-smartkarma-citation="entities:27452:1" rel="noopener">Innovent Biologics Inc (1801 HK)</a> is its strong ability of resources integration. Besides, when it comes to execution, clinical efficiency and R&amp;D productivity, Innovent deserves credit.</li>
<li>If having 10 big commercialized drugs are the threshold for becoming a biopharma, Innovent's upgrade from biotech to biopharma is almost complete. </li>
<li>Innovent has enough cash flow over the next few years to support development, and may even turn losses into profits. So, we think that Innovent could get through “this winter”. </li>
</ul>


The biggest characteristic of Innovent Biologics Inc (1801 HK) is its strong ability of resources integration. Besides, when it comes to execution, clinical efficiency and R&amp;D productivity, Innovent deserves credit.
If having 10 big commercialized drugs are the threshold for becoming a biopharma, Innovent's upgrade from biotech to biopharma is almost complete. 
Innovent has enough cash flow over the next few years to support development, and may even turn losses into profits. So, we think that Innovent could get through “this winter”. 


Innovent Biologics Inc (1801.HK) - Capable of Surviving “this Winter”

<ul>
<li>We analyzed the key products and pipeline of <a href="https://www.smartkarma.com/entities/hansoh-pharmaceutical-group" target="_blank" data-smartkarma-citation="entities:23675:1" rel="noopener">Hansoh Pharmaceutical (3692 HK)</a>, which are uninspiring.</li>
<li>Investors could trade this stock when its valuation is at very low level or the valuation of entire sector is in upward trend by taking advantage of the positive momentum.</li>
<li>The cooperation with OliX Pharmaceuticals on siRNA could be a highlight, but the question is would you like to bet on it?</li>
</ul>


We analyzed the key products and pipeline of Hansoh Pharmaceutical (3692 HK), which are uninspiring.
Investors could trade this stock when its valuation is at very low level or the valuation of entire sector is in upward trend by taking advantage of the positive momentum.
The cooperation with OliX Pharmaceuticals on siRNA could be a highlight, but the question is would you like to bet on it?


Hansoh Pharmaceutical (3692.HK) - Lackluster Pipeline, so Bet on SiRNA?

The year 2021 marks the 10th anniversary of the establishment of <a href="https://www.smartkarma.com/entities/innovent-biologics-inc" target="_blank" data-smartkarma-citation="entities:27452:1" rel="noopener">Innovent Biologics Inc (1801 HK)</a>. During this decade, Innovent has launched 5 products, 4 of which entered China's national medical insurance catalogue. Meanwhile, last week, Innovent also released its 2021/1H financial report. The revenue was RMB1.94 billion, up 97.29% YoY. Net loss was RMB1.175 billion, up 93.25% YoY. This article mainly analyzed the 2021/1H performance, the commercialized products, the pipeline, the concerns and the outlook of the Company.

The year 2021 marks the 10th anniversary of the establishment of Innovent Biologics Inc (1801 HK). During this decade, Innovent has launched 5 products, 4 of which entered China's national medical insurance catalogue. Meanwhile, last week, Innovent also released its 2021/1H financial report. The revenue was RMB1.94 billion, up 97.29% YoY. Net loss was RMB1.175 billion, up 93.25% YoY. This article mainly analyzed the 2021/1H performance, the commercialized products, the pipeline, the concerns and the outlook of the Company.

Innovent Biologics (1801.HK) - The Strength and the Concerns

Equity Capital Markets

CANbridge Pharmaceuticals / Equity Capital Markets

Since June this year, there have been more and more topics about rare diseases in China. On June 30, Shaanxi Provincial Medical Insurance Bureau included 7 drugs for rare diseases such as Gaucher disease, Fabry disease and others into Shaanxi Provincial medical insurance coverage. On July 5, Jiangsu Province also added five rare diseases including Pompe disease, Spinal Muscular Atrophy and others to its medical insurance coverage. As rare diseases gradually attract government’s attention, related companies would also come into people’s vision. On June 30, <a href="https://www.smartkarma.com/entities/canbridge-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:33783:1" rel="noopener">CANbridge Pharmaceuticals (CAN HK)</a>, a leading China-based, global rare disease-focused biopharmaceutical company, submitted its prospectus to the HKEX. This insight mainly analyzed the industry characteristics, the commercialized products, the pipeline, and the concerns of the Company.

Since June this year, there have been more and more topics about rare diseases in China. On June 30, Shaanxi Provincial Medical Insurance Bureau included 7 drugs for rare diseases such as Gaucher disease, Fabry disease and others into Shaanxi Provincial medical insurance coverage. On July 5, Jiangsu Province also added five rare diseases including Pompe disease, Spinal Muscular Atrophy and others to its medical insurance coverage. As rare diseases gradually attract government’s attention, related companies would also come into people’s vision. On June 30, CANbridge Pharmaceuticals (CAN HK), a leading China-based, global rare disease-focused biopharmaceutical company, submitted its prospectus to the HKEX. This insight mainly analyzed the industry characteristics, the commercialized products, the pipeline, and the concerns of the Company.

Pre-IPO CANbridge Pharmaceuticals - Insights on Products, Pipeline and the Concerns

China

Ascentage Pharma is a clinical-stage biotechnology company focused on discovering, developing, and commercializing novel small-molecule therapies for cancers, hepatitis B virus, and certain age-related diseases. The company specializes in therapies that inhibit protein-protein interactions to restore programmed cell death, with lead assets including olverembatinib and lisaftoclax for hematological malignancies. Ascentage Pharma was founded in 2009 and is headquartered in Suzhou, China.

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Ascentage Pharma (6855 HK)

Innovent Biologics Inc (1801.HK) - Innovent Is Not Optional but Necessary in Portfolio

Innovent would transform from a biotech to biopharma. It is a better comprehensive choice of certainty, elasticity and safety than Hengrui. Its...

Xinyao (Criss) Wang

Innovent Biologics Inc (1801.HK) - Capable of Surviving “this Winter”

After continuous pullback, investors may lose interest in Innovent. However, it still has investment value based on pipeline, resources, R&D and...

Xinyao (Criss) Wang

Hansoh Pharmaceutical (3692.HK) - Lackluster Pipeline, so Bet on SiRNA?

This article mainly analyzed Hansoh Pharmaceutical in terms of the business, the key products, the pipeline, the concerns, the insights on...

Xinyao (Criss) Wang

Innovent Biologics (1801.HK) - The Strength and the Concerns

This article analyzed Innovent about 2021H1 performance, commercialized products, pipeline, concerns of the Company, and also include thoughts on...

Xinyao (Criss) Wang

Pre-IPO CANbridge Pharmaceuticals - Insights on Products, Pipeline and the Concerns

This article mainly analyzed CANbridge Pharmaceuticals in terms of its commercialized products, the pipeline, and the concerns, and the outlook of...

Xinyao (Criss) Wang

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