Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>Despite ongoing recovery and fading effect of the COVID-19, 2023 was not a smooth sailing for the healthcare companies. All the countries and sub-sectors did not perform equally.</li>
<li>As we are heading into 2024, let us look back on the performance of some of our global healthcare stocks recommended throughout 2023.</li>
<li>
<a href="https://www.smartkarma.com/entities/lianbio" target="_blank" data-smartkarma-citation="entities:34478:1" rel="noopener">LianBio (LIAN US)</a> remained the best performer with 93% return in nearly eight months. <a href="https://www.smartkarma.com/entities/global-health-medanta" target="_blank" data-smartkarma-citation="entities:34649:1" rel="noopener">Global Health (Medanta) (MEDANTA IN)</a>, top pick for March 2023, generated 79% return in nine months.     </li>
</ul>


Despite ongoing recovery and fading effect of the COVID-19, 2023 was not a smooth sailing for the healthcare companies. All the countries and sub-sectors did not perform equally.
As we are heading into 2024, let us look back on the performance of some of our global healthcare stocks recommended throughout 2023.

LianBio (LIAN US) remained the best performer with 93% return in nearly eight months. Global Health (Medanta) (MEDANTA IN), top pick for March 2023, generated 79% return in nine months.     


2023 in Rear Mirror View: Top Performers From My Global Healthcare Coverage Universe

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Equity Bottom-Up

Key points (machine generated)<ul><li>LianBio is winding down its portfolio of in-licensed drug candidates and returning cash to shareholders.</li><li>The company recently sold exclusive rights to develop and commercialize mavacamten in certain areas of Asia to Bristol Myers Squibb for $350 million.</li><li>LianBio will have approximately $600 million in net cash after the transaction, exceeding its current market capitalization of around $434 million. A strategic review is ongoing, and it is expected that the company will wind down its business and distribute cash to shareholders, potentially leading to a higher share price reflecting its cash holdings.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)LianBio is winding down its portfolio of in-licensed drug candidates and returning cash to shareholders.The company recently sold exclusive rights to develop and commercialize mavacamten in certain areas of Asia to Bristol Myers Squibb for $350 million.LianBio will have approximately $600 million in net cash after the transaction, exceeding its current market capitalization of around $434 million. A strategic review is ongoing, and it is expected that the company will wind down its business and distribute cash to shareholders, potentially leading to a higher share price reflecting its cash holdings.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Lianbio -Ads (LIAN) - Tuesday, Oct 31, 2023

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

<ul>
<li>Mavacamten is expected to be LianBio’s first commercialized product. Due to low diagnostic rate/doctors’ insufficient cognition of HCM, whether it can become a blockbuster drug in China is still uncertain.</li>
<li>There’s an “insurmountable obstacle” to license-in model, and its “fault-tolerant space” is small. LianBio has to go all the way to the end.Otherwise, the license-in projects will eventually become worthless.</li>
<li>Due to high cost rate, it’s difficult for LianBio to make profit even with large drug sales. Although pipeline is good, LianBio could still fail to bring investors good returns.</li>
</ul>


Mavacamten is expected to be LianBio’s first commercialized product. Due to low diagnostic rate/doctors’ insufficient cognition of HCM, whether it can become a blockbuster drug in China is still uncertain.
There’s an “insurmountable obstacle” to license-in model, and its “fault-tolerant space” is small. LianBio has to go all the way to the end.Otherwise, the license-in projects will eventually become worthless.
Due to high cost rate, it’s difficult for LianBio to make profit even with large drug sales. Although pipeline is good, LianBio could still fail to bring investors good returns.


LianBio (LIAN.US) - Some Points Worth the Attention

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lianbio" target="_blank" data-smartkarma-citation="entities:34478:1" rel="noopener">LianBio (LIAN US)</a>'s new drug application for its lead asset mavacamten is under priority review in China for the treatment of symptomatic obstructive hypertrophic cardiomyopathy, with approval expected in mid-2024.  </li>
<li>The company is expected to start commercialize mavacamten in Singapore and Macau this year. As of June 30, 2023, LianBio has cash balance of $267M, with runway into H1 2025.</li>
<li>LianBio is currently conducting phase 3 trial to evaluate the efficacy and safety of TP-03 in Chinese adult patients with Demodex blepharitis. Topline data is expected in 4Q23.</li>
</ul>



LianBio (LIAN US)'s new drug application for its lead asset mavacamten is under priority review in China for the treatment of symptomatic obstructive hypertrophic cardiomyopathy, with approval expected in mid-2024.  
The company is expected to start commercialize mavacamten in Singapore and Macau this year. As of June 30, 2023, LianBio has cash balance of $267M, with runway into H1 2025.
LianBio is currently conducting phase 3 trial to evaluate the efficacy and safety of TP-03 in Chinese adult patients with Demodex blepharitis. Topline data is expected in 4Q23.


LianBio (LIAN US): Lead Asset Is Approaching Commercialization; Satisfactory Cash Runway

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lianbio" target="_blank" data-smartkarma-citation="entities:34478:1" rel="noopener">LianBio (LIAN US)</a> is expected to report pivotal data from late-stage trials of its drug candidates as well as file for marketing approval for mavacamten in China in 2023.</li>
<li>Lead candidate mavacamten has potential blockbuster opportunity in China. LianBio has entered into commercialization agreement with Pfizer for sisunatovir in Mainland China, Hong Kong, Macau, and Singapore.</li>
<li>With current cash position sufficient to fund operations through the end of 2024, LianBio is well positioned to become a commercial-stage company.</li>
</ul>



LianBio (LIAN US) is expected to report pivotal data from late-stage trials of its drug candidates as well as file for marketing approval for mavacamten in China in 2023.
Lead candidate mavacamten has potential blockbuster opportunity in China. LianBio has entered into commercialization agreement with Pfizer for sisunatovir in Mainland China, Hong Kong, Macau, and Singapore.
With current cash position sufficient to fund operations through the end of 2024, LianBio is well positioned to become a commercial-stage company.


LianBio (LIAN US): 2023 Is Going to Be Data Heavy; Current Cash Runway Raises Commercialization Hope

United States

LianBio operates as a biological technology company. The Company develops therapies to treat cardiovascular, oncology, respiratory, ophthalmology and inflammatory disease. LianBio serves customers patients in Asia.

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LianBio (LIAN US)

2023 in Rear Mirror View: Top Performers From My Global Healthcare Coverage Universe

Despite ongoing recovery and fading effect of the COVID-19, healthcare companies had varying performances in 2023. From my coverage, the top...

Tina Banerjee

Lianbio -Ads (LIAN) - Tuesday, Oct 31, 2023

The company recently sold exclusive rights to develop and commercialize mavacamten in certain areas of Asia to Bristol Myers Squibb for $350 million.

Value Investors Club (VIC)

LianBio (LIAN.US) - Some Points Worth the Attention

LianBio's pipeline is good, but there’s an “insurmountable obstacle” to license-in mode, making it hard to be breakeven. Approval of Mavacamten is...

Xinyao (Criss) Wang

LianBio (LIAN US): Lead Asset Is Approaching Commercialization; Satisfactory Cash Runway

LianBio's lead asset mavacamten is undergoing review in China for symptomatic obstructive hypertrophic cardiomyopathy, with approval expected in...

Tina Banerjee

LianBio (LIAN US): 2023 Is Going to Be Data Heavy; Current Cash Runway Raises Commercialization Hope

This year, LianBio expects to report late-stage trial data, initiate clinical trials, and file marketing approval for lead drug candidate in China....

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

2023 in Rear Mirror View: Top Performers From My Global Healthcare Coverage Universe

​Despite ongoing recovery and fading effect of the COVID-19, healthcare companies had varying performances in 2023. From my coverage, the top...

Tina Banerjee

Lianbio -Ads (LIAN) - Tuesday, Oct 31, 2023

The company recently sold exclusive rights to develop and commercialize mavacamten in certain areas of Asia to Bristol Myers Squibb for $350 million.

Value Investors Club (VIC)

LianBio (LIAN.US) - Some Points Worth the Attention

LianBio's pipeline is good, but there’s an “insurmountable obstacle” to license-in mode, making it hard to be breakeven. Approval of Mavacamten is...

Xinyao (Criss) Wang

LianBio (LIAN US): Lead Asset Is Approaching Commercialization; Satisfactory Cash Runway

​LianBio's lead asset mavacamten is undergoing review in China for symptomatic obstructive hypertrophic cardiomyopathy, with approval expected in...

Tina Banerjee

LianBio (LIAN US): 2023 Is Going to Be Data Heavy; Current Cash Runway Raises Commercialization Hope

This year, LianBio expects to report late-stage trial data, initiate clinical trials, and file marketing approval for lead drug candidate in China....

Tina Banerjee

Despite ongoing recovery and fading effect of the COVID-19, healthcare companies had varying performances in 2023. From my coverage, the top...

LianBio's lead asset mavacamten is undergoing review in China for symptomatic obstructive hypertrophic cardiomyopathy, with approval expected in...