Japan TMT Analyst

Pelham Smithers

Market Intel on Asian Tech with a Japan focus

Pelham Smithers Associates

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

Research is provided by the following:
Pelham Smithers: Macro, consumer electronics, telecoms & pharma
Joel Scheiman: Electronics materials / components
Julie Boote: Autos
Will Nestuk: Capital goods, machinery & transportation equipment parts
Thao Nguyen: eCommerce, internet content, marketing & advertising

Equity Bottom-Up

For a drug that was targeted to hit US$6~8bil in sales, last year’s US$2.3bil revenue figure for Xtandi was decidedly below par. With the start of 2017 seeing sales decline, this situation was worrying for both <a href="https://www.smartkarma.com/entities/6091" target="_blank" data-smartkarma-citation="entities:6091:1">Astellas Pharma Inc (4503 JP)</a> and its new US partner <a href="https://www.smartkarma.com/entities/1131" target="_blank" data-smartkarma-citation="entities:1131:1">Pfizer (PFE US)</a>, which had only recently spent US$11 billion on buying Medivation, to get access to Xtandi. More recently, Xtandi’s big rival – <a href="https://www.smartkarma.com/entities/1132" target="_blank" data-smartkarma-citation="entities:1132:1">Johnson &amp; Johnson's (JNJ US)</a>Zytiga – had also performed well in data presented at ASCO in…

For a drug that was targeted to hit US$6~8bil in sales, last year’s US$2.3bil revenue figure for Xtandi was decidedly below par. With the start of 2017 seeing sales decline, this situation was worrying for both Astellas Pharma Inc (4503 JP) and its new US partner Pfizer (PFE US), which had only recently spent US$11 billion on buying Medivation, to get access to Xtandi. More recently, Xtandi’s big rival – Johnson &amp; Johnson's (JNJ US)Zytiga – had also performed well in data presented at ASCO in…

Astellas (4503) - PROSPER Data Revives Value Story

<a href="https://www.smartkarma.com/entities/4489" target="_blank" data-smartkarma-citation="entities:4489:1">Chugai Pharmaceutical (4519 JP)</a> announced on August 24th that the US FDA has accepted its Biologics License Application (BLA) for emicizumab (emi) on Priority Review for adults, adolescents and children with haemophilia A with Factor VIII inhibitors, resulting in a PDUFA date of 23rd February 2018. The announcement was made with one hour of trading left and, if anything, the shares weakened on the news, which underscores that there was little by way of surprise here. The 79% effectiveness and…

Chugai Pharmaceutical (4519 JP) announced on August 24th that the US FDA has accepted its Biologics License Application (BLA) for emicizumab (emi) on Priority Review for adults, adolescents and children with haemophilia A with Factor VIII inhibitors, resulting in a PDUFA date of 23rd February 2018. The announcement was made with one hour of trading left and, if anything, the shares weakened on the news, which underscores that there was little by way of surprise here. The 79% effectiveness and…

Chugai Pharmaceutical (4519 JP): Emicizumab Gets PDUFA Data

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

Bullish technicals continue to support our call to overweight EM. We highlight actionable themes, as well as pullback opportunities in Europe, European luxury/apparel, UK homebuilders, EM chemicals, Japanese chemicals, and Japanese tech stocks.

Bullish technicals continue to support our call to overweight EM. We highlight actionable themes, as well as pullback opportunities in Europe, European luxury/apparel, UK homebuilders, EM chemicals, Japanese chemicals, and Japanese tech stocks.

Int'l Compass: Overweight EM; Actionable Themes in Europe and Japan

News that gilteritinib has received orphan drug status for acute myeloid leukaemia (AML) would be rather more exciting for <a href="https://www.smartkarma.com/entities/6091" target="_blank" data-smartkarma-citation="entities:6091:1">Astellas (4503 JP)</a> but for the fact that AML is the new favourite treatment area for the FDA. In December 2016, Escend received a similar designation for ES-3000, while Boehringer Ingelheim’s volasertib and <a href="https://www.smartkarma.com/entities/16469" target="_blank" data-smartkarma-citation="entities:16469:1">Prescient Therapeutics' (PTX AU)</a> PTX-200 both gained orphan status this May. AML is a ¥100bil/yr market, so it is on the large side for orphan status.AML has proven…

News that gilteritinib has received orphan drug status for acute myeloid leukaemia (AML) would be rather more exciting for Astellas (4503 JP) but for the fact that AML is the new favourite treatment area for the FDA. In December 2016, Escend received a similar designation for ES-3000, while Boehringer Ingelheim’s volasertib and Prescient Therapeutics' (PTX AU) PTX-200 both gained orphan status this May. AML is a ¥100bil/yr market, so it is on the large side for orphan status.AML has proven…

Update on Astellas (4503) As It Gets Orphan Drug Status for Gilteritinib

Earlier this year, <a href="https://www.smartkarma.com/entities/11747" target="_blank" data-smartkarma-citation="entities:11747:1">Takeda Pharmaceutical Co Ltd (4502 JP)</a> spent US$4bil on <a href="https://www.smartkarma.com/entities/13299" target="_blank" data-smartkarma-citation="entities:13299:1">Ariad Pharmaceuticals Inc (ARIA US)</a>, thereby acquiring a company with a questionable reputation on pricing (Iclusig, a blood cancer drug, is the most expensive drug of its type, listed at US$200,000, a price that was raised because the FDA narrowed its indication because of adverse side-effects) and one pipeline asset, brigantinib. The latter, an ALK+ inhibitor, anti-cancer drug has just been approved by the FDA for use…

Earlier this year, Takeda Pharmaceutical Co Ltd (4502 JP) spent US$4bil on Ariad Pharmaceuticals Inc (ARIA US), thereby acquiring a company with a questionable reputation on pricing (Iclusig, a blood cancer drug, is the most expensive drug of its type, listed at US$200,000, a price that was raised because the FDA narrowed its indication because of adverse side-effects) and one pipeline asset, brigantinib. The latter, an ALK+ inhibitor, anti-cancer drug has just been approved by the FDA for use…

Japan

Chugai Pharmaceutical Company Ltd., manufactures and sells pharmaceuticals in the domestic and international markets through its subsidiaries. The Company develops drugs in the fields of cancer, infectious diseases, bone, blood, and circulatory systems. Chugai Pharmaceutical also conducts research studies on drugs with private and public medical research institutions.

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Chugai Pharmaceutical (4519 JP)

Astellas (4503) - PROSPER Data Revives Value Story

For a drug that was targeted to hit US$6~8bil in sales, last year’s US$2.3bil revenue figure for Xtandi was decidedly below par. With the start of...

Pelham Smithers Associates