In today’s briefing:
- Agilent Technologies: What the Next Instrument Cycle Looks Like—Inside the LC & LC/MS Modernization Tailwind!
- Simcere Pharma (2096 HK): Agreement With Vigonvita Positive, Pipeline and Approvals Key Strength
- Ascendis Pharma Just Popped 8%—Is a Multi-Billion-Dollar Acquisition Brewing?
- Hanx Biopharm (翰思爱泰) Pre-IPO Quick Comment: Innovative I/O Product with Early Signals
- Pre-IPO Shanghai Forest Cabin Cosmetics Group (PHIP Updates) – Some Points Worth the Attention
- Shanghai Forest Cabin PHIP Update: Strong Topline and Margins in 1H25
Agilent Technologies: What the Next Instrument Cycle Looks Like—Inside the LC & LC/MS Modernization Tailwind!
- Agilent Technologies, Inc. recently reported its fourth-quarter results for fiscal year 2025, showcasing robust performance across numerous dimensions.
- The company’s revenue for the quarter was $1.86 billion, representing growth of 7.2% on a core basis.
- This marked Agilent’s sixth consecutive quarter of core revenue growth acceleration, with the results surpassing the high end of their guidance range.
Simcere Pharma (2096 HK): Agreement With Vigonvita Positive, Pipeline and Approvals Key Strength
- Simcere Pharmaceutical Group (2096 HK) entered into a license agreement with Vigonvita Life Science Co. Ltd in respect of new indications (RSV and HMPV) of VV116 (Deuterated Remdesivir Hydrobromide).
- There is no innovative small molecule antiviral drug approved for RSV infection globally. The development of effective RSV treatment represents a huge unmet medical need worldwide.
- The licensing deals signed over the last few months alongside strong innovative drug portfolio, approvals and strong future pipeline makes it a bullish case.
Ascendis Pharma Just Popped 8%—Is a Multi-Billion-Dollar Acquisition Brewing?
- On December 12, 2025, shares of Ascendis Pharma A/S spiked 8% in intraday trading, fueled by sudden market chatter suggesting the Danish rare disease biotech may be in the crosshairs of a potential acquirer.
- With no confirmed bidder or public announcement to validate the speculation, investors and analysts were left parsing through the noise, weighing the potential strategic rationale for a deal.
- At a market capitalization of $11.8 billion, Ascendis stands out with a growing commercial footprint anchored by its approved products SKYTROFA and YORVIPATH, a robust pipeline including TransCon CNP, and a long-term vision aimed at €5 billion in annual revenue by 2030.
Hanx Biopharm (翰思爱泰) Pre-IPO Quick Comment: Innovative I/O Product with Early Signals
- Hanx Biopharm, a China-based clinical-stage biotech company, is looking to raise at least USD 100 million via a Hong Kong listing. ICBCI and CITIC are the joint book runners.
- In this note, we look at the company’s core product, HX009, and assess the selling point around the core product.
- We also look at the company’s pre-IPO investors and management team.
Pre-IPO Shanghai Forest Cabin Cosmetics Group (PHIP Updates) – Some Points Worth the Attention
- FOREST CABIN’s been subject to administrative penalties for false advertising. The natural ingredient that consumers truly pursue holds the highest premium in essence oil, but its content/efficacy is exaggerated.
- Pre-IPO valuation reached over RMB3.8bn. Some investors may believe that, given that FOREST CABIN’s profitability has initially been proven, its valuation is attractive. However, think FOREST CABIN have some issues.
- Valuation of FOREST CABIN should be lower than Mao Geping. A comfortable range could be P/E of 20-30x. If future growth declined/profit margin deteriorates, valuation may fall to 10-20x P/E.
Shanghai Forest Cabin PHIP Update: Strong Topline and Margins in 1H25
- Shanghai Forest Cabin Biological-Tech (SFCBT HK) is looking to raise US$140m in its upcoming Hong Kong IPO.
- SFC is the leader among China’s premium domestic skincare brands with a focus on anti-wrinkle and firming skincare market.
- We have looked at the company’s past performance in our previous note. In this note, we will undertake a PHIP update.
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