In today’s briefing:
- China Healthcare Weekly (Jun.29) – Biotech Valuation Bubble Is About to Burst, Innovent’s Placement
China Healthcare Weekly (Jun.29) – Biotech Valuation Bubble Is About to Burst, Innovent’s Placement
- The valuation bubble of innovative drug companies is about to burst as some founders/shareholders have started to reduce their holdings and cash out. We recommend investors to be rational.
- Domestic innovative drugs market size would be about RMB600 billion by 2035. It is estimated the whole innovative drug industry’s CAGR would be about 15% for the next decade.
- Innovent announced Placement with the Placing price of HK$78.36/share. However, valuation is clearly at a high level. A more suitable option is to take profits rather than buy.
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