HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Shaanxi Micot Pharmaceutical Technology / Equity Capital Markets

<ul>
<li>In addition to fierce competition in GLP-1 market, Micot also lacks experience in drug production, market promotion and sales. Any mistake in any link may lead to poor market acceptance.</li>
<li>After a product is launched on the market, whether it can smoothly enter the NRDL and how it is priced will directly determine its market penetration speed and peak sales. </li>
<li>The core drivers of Micot’s valuation mainly depend on the future clinical data and market space of pipeline. Valuation could be lower than peers due to lack of commercialized products. </li>
</ul>


In addition to fierce competition in GLP-1 market, Micot also lacks experience in drug production, market promotion and sales. Any mistake in any link may lead to poor market acceptance.
After a product is launched on the market, whether it can smoothly enter the NRDL and how it is priced will directly determine its market penetration speed and peak sales. 
The core drivers of Micot’s valuation mainly depend on the future clinical data and market space of pipeline. Valuation could be lower than peers due to lack of commercialized products. 


Pre-IPO Shaanxi Micot Pharmaceutical Technology - About the Pipeline and the Concerns Behind

China

Shaanxi Micot Pharmaceutical Technology (SMP HK)

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Pre-IPO Shaanxi Micot Pharmaceutical Technology - About the Pipeline and the Concerns Behind

In addition to fierce competition, Micot lacks experience in drug promotion and sales. The core drivers of valuation depend on future clinical data...

Xinyao (Criss) Wang