Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

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<li>Chugai’s in-house drug, Actemra is recommended by the WHO for the treatment of hospitalized COVID-19 patients. In-licensed drug Ronapreve is approved for the treatment of mild to moderate COVID-19 patients.</li>
<li>Actemra and Ronapreve together are expected to contribute 29% of total revenue in 2021. Approval of oral COVID-19 anti-viral pill will pressurize both the drugs in 2022 and beyond.</li>
<li>Chugai’s recently in-licensed gene therapy drug candidate for Duchenne muscular dystrophy will have to compete with existing drug and other pipeline candidates in Japan.  </li>
</ul>


Chugai’s in-house drug, Actemra is recommended by the WHO for the treatment of hospitalized COVID-19 patients. In-licensed drug Ronapreve is approved for the treatment of mild to moderate COVID-19 patients.
Actemra and Ronapreve together are expected to contribute 29% of total revenue in 2021. Approval of oral COVID-19 anti-viral pill will pressurize both the drugs in 2022 and beyond.
Chugai’s recently in-licensed gene therapy drug candidate for Duchenne muscular dystrophy will have to compete with existing drug and other pipeline candidates in Japan.  


Chugai Pharmaceutical (4519 JP): Actemra Loses Its Sheen on Arrival of Oral COVID-19 Pill

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<li>
<a href="https://www.smartkarma.com/entities/takeda-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:11747:1" rel="noopener">Takeda Pharmaceutical (4502 JP)</a> received CRL from the FDA for TAK-721, through which FDA declined to approve the drug in its current form and asked for additional clinical study.</li>
<li>Takeda aimed for four potential approvals in FY22. Thus far, the company has received only two approvals. R&amp;D expenditure for FY22 is guided at ¥522 billion, up 15% y/y.</li>
<li>Next big catalyst for the company is the potential approval of its Dengue vaccine candidate, TAK-003, which has peak revenue opportunity of $1.6 billion.</li>
</ul>



Takeda Pharmaceutical (4502 JP) received CRL from the FDA for TAK-721, through which FDA declined to approve the drug in its current form and asked for additional clinical study.
Takeda aimed for four potential approvals in FY22. Thus far, the company has received only two approvals. R&amp;D expenditure for FY22 is guided at ¥522 billion, up 15% y/y.
Next big catalyst for the company is the potential approval of its Dengue vaccine candidate, TAK-003, which has peak revenue opportunity of $1.6 billion.


Takeda Pharmaceutical (4502 JP): Bearish Tone Continues Despite New Drug Approvals

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<li>
<a href="https://www.smartkarma.com/entities/nektar-therapeutics" target="_blank" data-smartkarma-citation="entities:15060:1" rel="noopener">Nektar Therapeutics (NKTR US)</a> is a global biopharmaceutical company, with major focus on immune-oncology. Its lead candidate bempeg is the near-term growth engine for the company.</li>
<li>On December 6, Nektar presented favorable results for Bempeg plus Keytruda in patients with non-small-cell lung cancer. Bempeg is poised for getting approvals for multiple indications during 2023–2025.</li>
<li>Clinical trial progress of other late-stage programs remains long-term growth driver for Nektar. Buyout deal at a premium presents another upside opportunity for Nektar.</li>
</ul>



Nektar Therapeutics (NKTR US) is a global biopharmaceutical company, with major focus on immune-oncology. Its lead candidate bempeg is the near-term growth engine for the company.
On December 6, Nektar presented favorable results for Bempeg plus Keytruda in patients with non-small-cell lung cancer. Bempeg is poised for getting approvals for multiple indications during 2023–2025.
Clinical trial progress of other late-stage programs remains long-term growth driver for Nektar. Buyout deal at a premium presents another upside opportunity for Nektar.


Nektar Therapeutics (NKTR US): A Good Buying Option in Immuno-Oncology Therapeutic Area

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

<ul>
<li>We analyzed the COVID-19 product BRII-196/BRII-198 in terms of its strength compared with peers, the outlook, and the valuation upside potential of <a href="https://www.smartkarma.com/entities/brii-biosciences" target="_blank" data-smartkarma-citation="entities:33014:1" rel="noopener">Brii Biosciences (2137 HK)</a> accordingly.</li>
<li>We also analyzed the concerns after the pandemic is under control, and provided our advices for investors about the valuation at that time.</li>
<li>Brii is a company with the potential of “zero to one”, but its valuation would increase exponentially only if its candidates are superior to similar products of leading global giants.</li>
</ul>


We analyzed the COVID-19 product BRII-196/BRII-198 in terms of its strength compared with peers, the outlook, and the valuation upside potential of Brii Biosciences (2137 HK) accordingly.
We also analyzed the concerns after the pandemic is under control, and provided our advices for investors about the valuation at that time.
Brii is a company with the potential of “zero to one”, but its valuation would increase exponentially only if its candidates are superior to similar products of leading global giants.


Brii Biosciences (2137.HK) - With the Potential of “Zero to One”

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<li>
<a href="https://www.smartkarma.com/entities/aptabio-therapeutics-inc" target="_blank" data-smartkarma-citation="entities:34894:1" rel="noopener">AptaBio Therapeutics (293780 KS) </a>shares surged 28% in last one month, increasing its one-year gain to 213% versus KOSPI’s gain of 26%. Share price was driven by presentation of clinical progress of AptaBio’s pipeline at a virtual meeting held from October 7 to 9, 2021.</li>
<li>By leveraging on its two proprietary platform technologies, NOX inhibitor discovery platform and Aptamer-drug conjugate platform, AptaBio has developed eight new clinical candidates for complications of diabetes mellitus and three new candidates for anticancer agents. Its lead candidate APX-115 is also being studied as an oral COVID-19 treatment.  </li>
<li>This insight has analyzed the strength and potential of AptaBio’s late-stage pipeline to find whether further stream is left after a spectacular rally in share price in last one year.</li>
</ul>



AptaBio Therapeutics (293780 KS) shares surged 28% in last one month, increasing its one-year gain to 213% versus KOSPI’s gain of 26%. Share price was driven by presentation of clinical progress of AptaBio’s pipeline at a virtual meeting held from October 7 to 9, 2021.
By leveraging on its two proprietary platform technologies, NOX inhibitor discovery platform and Aptamer-drug conjugate platform, AptaBio has developed eight new clinical candidates for complications of diabetes mellitus and three new candidates for anticancer agents. Its lead candidate APX-115 is also being studied as an oral COVID-19 treatment.  
This insight has analyzed the strength and potential of AptaBio’s late-stage pipeline to find whether further stream is left after a spectacular rally in share price in last one year.


AptaBio Therapeutics (293780 KS): Promising, Innovative, and First-In-Class Pipeline

United States

Regeneron Pharmaceuticals, Inc. is a biopharmaceutical company that discovers, develops, and commercializes pharmaceutical products for the treatment of serious medical conditions. The Company has therapeutic candidates in clinical trials for the potential treatment of cancer, eye diseases, and inflammatory diseases, and has preclinical programs in other diseases and disorders.

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Regeneron Pharmaceuticals (REGN US)

Chugai Pharmaceutical (4519 JP): Actemra Loses Its Sheen on Arrival of Oral COVID-19 Pill

Chugai's COVID-19 drugs do not seem to be stack up well against the newly approved oral COVID-19 drugs in 2022 and beyond. The company has already...

Tina Banerjee

Takeda Pharmaceutical (4502 JP): Bearish Tone Continues Despite New Drug Approvals

The bear case thesis of patent cliff and pipeline blues still hold good for the company. However, long-term fundamental growth story of the company...

Tina Banerjee

Nektar Therapeutics (NKTR US): A Good Buying Option in Immuno-Oncology Therapeutic Area

Nektar presented favorable clinical data for its lead candidate, bempeg at a global healthcare conference recently. Bempeg, a potential blockbuster...

Tina Banerjee

Brii Biosciences (2137.HK) - With the Potential of “Zero to One”

The article analyzed Brii Biosciences in terms of its COVID-19 product BRII-196/BRII-198, the meaning of its success, the concerns,the impact on...

Xinyao (Criss) Wang

AptaBio Therapeutics (293780 KS): Promising, Innovative, and First-In-Class Pipeline

AptaBio has a strong and innovative pipeline targeting multi-billion-dollar revenue opportunity. This insight has analyzed the potential of the...

Tina Banerjee

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