Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>FDA has confirmed the primary endpoints for Neuren Pharmaceuticals’ planned Phase 3 pivotal clinical trial of NNZ-2591 in Phelan-McDermid syndrome. Eisai has ultimately received its long-waited European approval for Leqembi.</li>
<li>Chugai Pharmaceutical’s outlicensed oral GLP-1 drug candidate orforglipron has shown positive topline Phase 3 results. Telix announced preliminary results from the Phase 2 study of TLX101 in recurrent high-grade glioma.</li>
<li>Biocon secured market entry date for Yesafili, an interchangeable biosimilar to Eylea in the U.S. FDA has issued Form 483 with 11 observations for Aurobindo Pharma’s North Carolina inhaler plant.</li>
</ul>


FDA has confirmed the primary endpoints for Neuren Pharmaceuticals’ planned Phase 3 pivotal clinical trial of NNZ-2591 in Phelan-McDermid syndrome. Eisai has ultimately received its long-waited European approval for Leqembi.
Chugai Pharmaceutical’s outlicensed oral GLP-1 drug candidate orforglipron has shown positive topline Phase 3 results. Telix announced preliminary results from the Phase 2 study of TLX101 in recurrent high-grade glioma.
Biocon secured market entry date for Yesafili, an interchangeable biosimilar to Eylea in the U.S. FDA has issued Form 483 with 11 observations for Aurobindo Pharma’s North Carolina inhaler plant.


APAC Healthcare Weekly (April 20)- Neuren, Chugai, Eisai, Telix, Biocon, Aurobindo Pharma

<ul>
<li>Eisai is eyeing for Leqembi global revenue of ¥250–280B in FY28. Kaken Pharmaceutical inlicensed dermatology drug candidate from Alumis. Kaken’s onychomycosis drug got approval in Italy.</li>
<li>Mochida Pharmaceutical has applied for marketing approval of Actembra biosimilar in Japan. Shionogi has filed for indication expansion of Xocova for post-exposure prophylaxis of COVID-19 in Japan.</li>
<li>SK Bioscience got approval for Phase 3 clinical trial of 21-valent pneumococcal vaccine in European countries. PharmaEssential obtained approval for Phase 3 clinical trial of Ropeginterferon alfa-2b in China.</li>
</ul>


Eisai is eyeing for Leqembi global revenue of ¥250–280B in FY28. Kaken Pharmaceutical inlicensed dermatology drug candidate from Alumis. Kaken’s onychomycosis drug got approval in Italy.
Mochida Pharmaceutical has applied for marketing approval of Actembra biosimilar in Japan. Shionogi has filed for indication expansion of Xocova for post-exposure prophylaxis of COVID-19 in Japan.
SK Bioscience got approval for Phase 3 clinical trial of 21-valent pneumococcal vaccine in European countries. PharmaEssential obtained approval for Phase 3 clinical trial of Ropeginterferon alfa-2b in China.


APAC Healthcare Weekly (Mar 30)- Eisai, Kaken, Mochida, Shionogi, SK Bioscience, PharmaEssentia

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>AI boom reflected in record fund ownership in ASML Holding NV (ASML NA), NVIDIA Corp and Taiwan Semiconductor (TSMC) (2330 TT).</li>
<li>The 'Magnificent 7' group of stocks have hit a record underweight of -6.83% below the MSCI ACWI index.  They collectively account for 11.2% of the average Global fund.</li>
<li>Recovery Stocks: The old guard of At&amp;T Inc (T US), International Business Machines (IBM US) and General Electric (GE US) appear to be gathering some support from active Global funds.</li>
</ul>


AI boom reflected in record fund ownership in ASML Holding NV (ASML NA), NVIDIA Corp and Taiwan Semiconductor (TSMC) (2330 TT).
The 'Magnificent 7' group of stocks have hit a record underweight of -6.83% below the MSCI ACWI index.  They collectively account for 11.2% of the average Global fund.
Recovery Stocks: The old guard of At&amp;T Inc (T US), International Business Machines (IBM US) and General Electric (GE US) appear to be gathering some support from active Global funds.


Global Stock Positioning:  MSFT Dominates, Mag7 Record U/W, Apple Inflows, Tobacco Uninvestable?

<ul>
<li>Australia has recommended against the approval of Eisai Alzheimer’s disease drug Leqembi. Daiichi Sankyo’s Enhertu received conditional approval in China for the treatment of non-small cell lung cancer.</li>
<li>Nihon Kohden has revised its financial forecasts for H1FY25. Shanghai Junshi Biosciences’ toripalimab has been approved for marketing in India for treatment of recurrent or metastatic nasopharyngeal carcinoma.</li>
<li>Akeso Biopharma raised ~$250M, for funding its R&amp;D activities. Celltrion has filed phase 3 clinical trial application in Europe for Cosentyx biosimilar in patients with moderate to severe plaque psoriasis.</li>
</ul>


Australia has recommended against the approval of Eisai Alzheimer’s disease drug Leqembi. Daiichi Sankyo’s Enhertu received conditional approval in China for the treatment of non-small cell lung cancer.
Nihon Kohden has revised its financial forecasts for H1FY25. Shanghai Junshi Biosciences’ toripalimab has been approved for marketing in India for treatment of recurrent or metastatic nasopharyngeal carcinoma.
Akeso Biopharma raised ~$250M, for funding its R&amp;D activities. Celltrion has filed phase 3 clinical trial application in Europe for Cosentyx biosimilar in patients with moderate to severe plaque psoriasis.


APAC Healthcare Weekly (Oct 20)- Eisai, Daiichi Sankyo, Junshi Bioscience, Akeso, Celltrion, Neuren

Healthcare Equity Analyst - Emerging & Dev Markets, daaimon

Avien Pillay

Healthcare Equity Analyst - Emerging & Dev Markets

daaimon

daaimon is an independent research company focusing on healthcare and consumer sectors across developed and emerging markets. We produce insightful research which challenges conventional thinking. In particular, we look for new ideas by testing consensus forecasts and markets expectations.

<ul>
<li>The GLP-1 market is evolving at a rapid pace, and we have quickly moved onto the development of a triple agonist drug.</li>
<li>First mover advantage is expected to lose steam as more effective GLP-1s are launched.</li>
<li>Scary side effects; challenged patents and strong competition will favour the cost-effective producers.</li>
</ul>


The GLP-1 market is evolving at a rapid pace, and we have quickly moved onto the development of a triple agonist drug.
First mover advantage is expected to lose steam as more effective GLP-1s are launched.
Scary side effects; challenged patents and strong competition will favour the cost-effective producers.


Denmark

Novo Nordisk A/S develops, produces, and markets pharmaceutical products. The Company focuses on diabetes care and offers insulin delivery systems and other diabetes products. Novo Nordisk also works in areas such as haemostatis management, growth disorders, and hormone replacement therapy. The Company offers educational and training materials. Novo Nordisk markets worldwide.

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Novo Nordisk (NOVOB DC)

APAC Healthcare Weekly (April 20)- Neuren, Chugai, Eisai, Telix, Biocon, Aurobindo Pharma

Neuren is a step closer to P3 trial in PMS. Chugai’s oral GLP-1 drug candidate shows promise in P3 trial. Eisai got Leqembi approval in EU. Biocon...

Tina Banerjee

APAC Healthcare Weekly (Mar 30)- Eisai, Kaken, Mochida, Shionogi, SK Bioscience, PharmaEssentia

Eisai outlined Leqembi sales target. Kaken inlicensed drug candidate. Mochida filed for Actembra biosimilar. Shionogi applied for label expansion...

Tina Banerjee

Global Stock Positioning: MSFT Dominates, Mag7 Record U/W, Apple Inflows, Tobacco Uninvestable?

The latest in stock-level investor positioning among over 300 active Global funds. We explore the AI boom, key over/underweights, Tobacco's...

Steven Holden

APAC Healthcare Weekly (Oct 20)- Eisai, Daiichi Sankyo, Junshi Bioscience, Akeso, Celltrion, Neuren

This insight collates key news in APAC healthcare last week. With the earnings season beginning to unfold along with major pharma and healthcare...

Tina Banerjee

GLP-1s - Update 1

The GLP-1 market is evolving at a rapid pace and strong competition, patent challenges, and pressure to solve the obesity epidemic will favour the...

daaimon

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