Daily Brief Health Care: Sansure Biotech , Legend Biotech Corp, Akeso Biopharma Inc and more

In today’s briefing:

Quiddity CSI Medical Dec 24 Results: 3 Changes; All Expected; US$362mn One-Way
Legend Biotech: Can The Partnership With Multiply Labs Be A Game Changer? – Major Drivers
2025 High Conviction – China Healthcare: Chinese Biotech to Compete on the International Stage

Quiddity CSI Medical Dec 24 Results: 3 Changes; All Expected; US$362mn One-Way

The December 2024 index review results for the CSI Medical Service Index were announced after market close on Friday 29th November 2024.
There will be 3 changes for the CSI Medical Service index.
We predicted all the changes correctly but we expected a couple of extra changes which did not materialize.

Legend Biotech, a biopharmaceutical company focused on cell therapies for cancer and other serious diseases, delivered robust financial performance in the third quarter of 2024.
The company reported accelerating adoption and sales of its flagship product, CARVYKTI, a CAR-T (chimeric antigen receptor T) cell therapy targeting multiple myeloma.
For the quarter, CARVYKTI generated approximately $286 million in net sales, reflecting an 87.6% increase year-over-year and 53.2% quarter-over-quarter.

Based on excellent data in HARMONi-2, Akeso’s investment certainty has significantly increased compared to a year ago. Accordingly, Summit plans to modify the clinical protocol to expand the ongoing HARMONi-3.
If the clinical trials go smoothly, Summit is able to sell AK112 (or the entire company) at a much higher price. Akeso would successfully become a Biopharma and achieve internationalization.
If AK112 is finally approved by the FDA based on HARMONi-2, Akeso’s market value would be higher than Innovent. If HARMONI-3 is successful, market value would be above RMB100 billion.

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