In today’s briefing:
- China Healthcare Weekly (Jul.6)- Anjoy’s IPO Debut, HEC CJ Pharma’s Merger with Sunshine Lake Pharma
China Healthcare Weekly (Jul.6)- Anjoy’s IPO Debut, HEC CJ Pharma’s Merger with Sunshine Lake Pharma
- For the upcoming 11th national VBP, we think some core and big varieties could be included, involving companies such as Sunshine Lake Pharma, Huadong Medicine, Hansoh Pharmaceutical (3692 HK), etc.
- Anjoy’s IPO is fairly priced. Reasonable valuation range is 10-15x P/E.However, unfavorable factors have led us to take a conservative attitude towards the upside potential of stock price after IPO.
- For Sunshine Lake Pharma’s privatization of HEC Pharma, Composite Document was despatched. However, if investors truly understand “the essence” of HEC Pharma, they will be calm/rational about this absorption merger.
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