Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pharmaessentia-corp" target="_blank" data-smartkarma-citation="entities:16461:1" rel="noopener">Pharmaessentia Corp (6446 TT)</a> has started 2026 on strong note. 1Q26 revenue reached a record high of NT$5.1B, marking the 14th consecutive quarter of record-high performance with 57% YoY growth.</li>
<li>The company has appointed Incyte alumni Eric Vogel as U.S. Head of Commercialization, thereby strengthening commercial infrastructure ahead of the target action date for in ET on August 30, 2026.</li>
<li>By acquiring 100% of Forus, Pharmaessentia will fully integrate Canadian regulatory and medical affairs, marketing, and commercial channel resources — consolidating competitive advantages for Besremi and future products in the market.</li>
</ul>



Pharmaessentia Corp (6446 TT) has started 2026 on strong note. 1Q26 revenue reached a record high of NT$5.1B, marking the 14th consecutive quarter of record-high performance with 57% YoY growth.
The company has appointed Incyte alumni Eric Vogel as U.S. Head of Commercialization, thereby strengthening commercial infrastructure ahead of the target action date for in ET on August 30, 2026.
By acquiring 100% of Forus, Pharmaessentia will fully integrate Canadian regulatory and medical affairs, marketing, and commercial channel resources — consolidating competitive advantages for Besremi and future products in the market.


Pharmaessentia Corp (6446 TT): Strong 1Q Result; Commercialization Activity Ahead of Label Expansion

Thematic (Sector/Industry)

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<li>Simcere inks outlicensing agreement with Roche for tri-specific antibody in total deal value of $2B+. Hutchmed enters outlicense agreement with GSK for first-in-class drug candidate for upfront payment of $110M.</li>
<li>Akeso’s ivonescimab demonstrates significant overall survival benefit in Keytruda head-to-head trial in NSCLC. Daiichi Sankyo’s Enhertu has been approved in EU for the first-line treatment of HER2 positive breast cancer.</li>
<li>Alteogen inked agreement with Novartis for the development and commercialization of subcutaneous products utilizing ALT-B4. Pharmaessentia secured FDA approval of Besremi for the treatment of essential thrombocythemia.</li>
</ul>


Simcere inks outlicensing agreement with Roche for tri-specific antibody in total deal value of $2B+. Hutchmed enters outlicense agreement with GSK for first-in-class drug candidate for upfront payment of $110M.
Akeso’s ivonescimab demonstrates significant overall survival benefit in Keytruda head-to-head trial in NSCLC. Daiichi Sankyo’s Enhertu has been approved in EU for the first-line treatment of HER2 positive breast cancer.
Alteogen inked agreement with Novartis for the development and commercialization of subcutaneous products utilizing ALT-B4. Pharmaessentia secured FDA approval of Besremi for the treatment of essential thrombocythemia.


APAC Healthcare Weekly (Sept 6) – Simcere, Hutchmed, Akeso, Daiichi Sankyo, Alteogen, Pharmaessentia

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

<ul>
<li>We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology</li>
<li>Portfolio changes: Four stocks remain, 10 new join the fray</li>
<li>Since its inception, it has generated a before-fee total return of 332% versus the MSCI Asia ex Japan of 216%</li>
</ul>


We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology
Portfolio changes: Four stocks remain, 10 new join the fray
Since its inception, it has generated a before-fee total return of 332% versus the MSCI Asia ex Japan of 216%


<ul>
<li>
<a href="https://www.smartkarma.com/entities/pharmaessentia-corp" target="_blank" data-smartkarma-citation="entities:16461:1" rel="noopener">Pharmaessentia Corp (6446 TT)</a> announced strong performance for 2025, with revenue increasing 61% YoY to NT$15.6B on the growing commercial uptake of its sole approved drug Besremi.</li>
<li>FDA has accepted Besremi’s indication expansion application for the treatment of essential thrombocythemia, with target action date of August 30, 2026. China and Japan approval also expected in 2026.</li>
<li>Potential indication expansion of Besremi for ET and Besremi pen launch in 2026 are the near-term catalysts. We remain bullish on the name.</li>
</ul>



Pharmaessentia Corp (6446 TT) announced strong performance for 2025, with revenue increasing 61% YoY to NT$15.6B on the growing commercial uptake of its sole approved drug Besremi.
FDA has accepted Besremi’s indication expansion application for the treatment of essential thrombocythemia, with target action date of August 30, 2026. China and Japan approval also expected in 2026.
Potential indication expansion of Besremi for ET and Besremi pen launch in 2026 are the near-term catalysts. We remain bullish on the name.


Pharmaessentia Corp (6446 TT): Ends 2025 on Strong Note; Key Drug Awaiting Label Expansion in 2026

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<li>CSPC Pharmaceutical’s SYS6010 met primary endpoint in Phase 3 study as a monotherapy for NSCLC. Akeso’s ivonescimab demonstrates significant overall survival in Phase 3 trial for advanced biliary tract cancer.</li>
<li>Takeda Pharma secured FDA approval for Mimrylo (rusfertide) for the treatment of erythrocytosis in adults with polycythemia vera. Astellas Pharma initiates global Phase 3 study evaluating ASP2138 for gastric cancers.</li>
<li>Hanmi Pharm outlicenses obesity drug candidate HM1732 to Genentech for a total deal value of $2.3B. SK Biopharmaceuticals entered an agreement to in-license opakalim, an investigational antiseizure medication, from Biohaven.</li>
</ul>


CSPC Pharmaceutical’s SYS6010 met primary endpoint in Phase 3 study as a monotherapy for NSCLC. Akeso’s ivonescimab demonstrates significant overall survival in Phase 3 trial for advanced biliary tract cancer.
Takeda Pharma secured FDA approval for Mimrylo (rusfertide) for the treatment of erythrocytosis in adults with polycythemia vera. Astellas Pharma initiates global Phase 3 study evaluating ASP2138 for gastric cancers.
Hanmi Pharm outlicenses obesity drug candidate HM1732 to Genentech for a total deal value of $2.3B. SK Biopharmaceuticals entered an agreement to in-license opakalim, an investigational antiseizure medication, from Biohaven.


APAC Healthcare Weekly (August 30)– CSPC Pharma, Akeso, Takeda, Astellas, Hanmi Pharm, SK Biopharma

Taiwan

PharmaEssentia Corporation develops and distributes therapeutic products for treatment in human disease. The Company develops drugs to treat hepatitis, chronic myeloid leukemia (CML), essential thrombocythemia (ET), myeloid fibrosis (MF), polycythemia vera (PV), hepatitis and cancer.

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Pharmaessentia Corp (6446 TT)