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

<a href="https://www.smartkarma.com/entities/976" target="_blank" data-smartkarma-citation="entities:976:1">Roche's</a> US subsidiary, Genentech announced that the OAK trial for Tecentriq met its primary endpoint (a statistically significant and clinically meaningful improvement in overall survival (OS) compared to chemotherapy in locally recurring and metatastic NSCLC). It is this data set which is key to the application to extend Tecentriq's use to 2nd / 3rd Line NSCLC.At one level this is not surprising - given Roche has made the application, the expectation is that the data is good. However, <a href="https://www.smartkarma.com/entities/1133" target="_blank" data-smartkarma-citation="entities:1133:1">Bristol</a>…

Roche's US subsidiary, Genentech announced that the OAK trial for Tecentriq met its primary endpoint (a statistically significant and clinically meaningful improvement in overall survival (OS) compared to chemotherapy in locally recurring and metatastic NSCLC). It is this data set which is key to the application to extend Tecentriq's use to 2nd / 3rd Line NSCLC.At one level this is not surprising - given Roche has made the application, the expectation is that the data is good. However, Bristol…

Ono Pharmaceutical - More Bad News As Tecentriq's OAK Trial Goes Well

Bespoke Research on China and neighbouring regions, Bixmoor

Bixmoor

Bespoke Research on China and neighbouring regions

Bixmoor specialises in providing bespoke research to business, governments and the financial community on China and neighbouring regions. We seek to build long-term relationships with our clients, based on our expertise, our reliability and our determination to find the right solution.

Thematic (Sector/Industry)

A comprehensive world survey of population heights over the last century has thrown up some surprising results. Americans have had the smallest height gain of any developed country, whereas Koreans have grown by an average of six inches over the last 100 years.

A comprehensive world survey of population heights over the last century has thrown up some surprising results. Americans have had the smallest height gain of any developed country, whereas Koreans have grown by an average of six inches over the last 100 years. 

Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

OBI Pharmaceuticals (4174:TT) is a biotechnology company developing treatments for cancer. The company has been mired in controversy for the past several months with the failure of its lead compound in a late-stage clinical trial and accusations of insider trading. The stock has declined by 21% YTD, yet we think it continues have significant downside risk. The current valuation of US$2.5 billion (11x+ cash) values the company's technology at US$2 billion+: the highest among "pre-revenue" Taiwanese biopharma companies. We think that the commercial prospects for OBI’s product candidates are less promising than assumed given the failures of similar compounds in clinical trials. The company's Chairman faces potential legal liabilities in both the US and Taiwan. His loss would be a significant blow to the company.

OBI Pharmaceuticals (4174:TT) is a biotechnology company developing treatments for cancer. The company has been mired in controversy for the past several months with the failure of its lead compound in a late-stage clinical trial and accusations of insider trading. The stock has declined by 21% YTD, yet we think it continues have significant downside risk. The current valuation of US$2.5 billion (11x+ cash) values the company's technology at US$2 billion+: the highest among "pre-revenue" Taiwanese biopharma companies. We think that the commercial prospects for OBI’s product candidates are less promising than assumed given the failures of similar compounds in clinical trials. The company's Chairman faces potential legal liabilities in both the US and Taiwan. His loss would be a significant blow to the company.

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Democratic presidential candidates' potential drug policy reforms have pressured drug stocks, and ongoing political campaigns are likely to continue to create volatility despite the Republican-majority Congress and low probability of reforms passing into law.Among all the reforms, dual-eligible legislation—offering mandatory Medicaid-level drug rebates to some Medicare Part D beneficiaries— looks the most likely, and most impactful (5% earnings cut on average).Analysts: Karen Andersen, Damien Conover &amp; Kelsey Tsai

Democratic presidential candidates' potential drug policy reforms have pressured drug stocks, and ongoing political campaigns are likely to continue to create volatility despite the Republican-majority Congress and low probability of reforms passing into law.Among all the reforms, dual-eligible legislation—offering mandatory Medicaid-level drug rebates to some Medicare Part D beneficiaries— looks the most likely, and most impactful (5% earnings cut on average).Analysts: Karen Andersen, Damien Conover &amp; Kelsey Tsai

Low Odds of U.S. Drug Pricing Reforms Create Favorable Valuations

United States

Roche Holding AG develops and manufactures pharmaceutical and diagnostic products. The Company produces prescription drugs in the areas of cardiovascular, infectious, autoimmune, respiratory diseases, dermatology, metabolic disorders, oncology, transplantation, and the central nervous system. Roche Holding serves customers worldwide.

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Roche Holding (RO SE)

Ono Pharmaceutical - More Bad News As Tecentriq's OAK Trial Goes Well

Roche's US subsidiary, Genentech announced that the OAK trial for Tecentriq met its primary endpoint (a statistically significant and clinically...

Pelham Smithers Associates

A 'heads Up' on Changing World Heights

A comprehensive world survey of population heights over the last century has thrown up some surprising results. Americans have had the smallest...

Bixmoor

Fasten Your Belts: Air Pockets Ahead

OBI Pharmaceuticals (4174:TT) is a biotechnology company developing treatments for cancer. The company has been mired in controversy for the past...

Kemp Dolliver, CFA

Low Odds of U.S. Drug Pricing Reforms Create Favorable Valuations

Democratic presidential candidates' potential drug policy reforms have pressured drug stocks, and ongoing political campaigns are likely to...

Morningstar, Inc.

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