In today’s briefing:
- China Property Management Sector: Navigating Turbulence for Investment Opportunities
- APAC Healthcare Weekly (June 22)- Samsung Biologics, Daewoong Pharma, Shionogi, Simcere, CSL
China Property Management Sector: Navigating Turbulence for Investment Opportunities
- We initiated research on the China property management sector. The PMC sector is characterized by its asset light nature, stable recurring revenue as well as net cash balance sheet
- The relationship between PMCs and parent developer is multi-faceted. Although PMCs are fundamentally safer, we think investors need to restore their confidence in developers first for re-rating to occur
- For investors with higher risk tolerance, we think LONG CR MixC and LONG COPL (both backed by SOE developers) offer a favourable risk-reward profile
APAC Healthcare Weekly (June 22)- Samsung Biologics, Daewoong Pharma, Shionogi, Simcere, CSL
- Samsung Biologics launches organoid-based drug screening services to support early-stage drug discovery and development. Daewoong Pharmaceutical signed a five-year KRW74B export agreement for botulinum toxin product with its Thailand partner.
- Shionogi’s tender offer for Torii Pharmaceutical has become successful. Simcere stuck outlicensing agreement with NextCure for ADC drug candidate SIM0505 for upfront payment, development, and sales milestones up to $745M.
- CSL received FDA approval of Andemry for hereditary angioedema. PharmaEssentia has received marketing approval of Besremi in Argentina. Lotus Pharmaceutical acquires a portfolio of five drugs in Vietnam.
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