In today’s briefing:
- Japan Strategy Weekly | US Tech Leads; Japan Lags
- APAC Healthcare Weekly (May 18)-Hengrui Medicine, Wuxi Biologics, Chugai, GC Biopharma, Mayne Pharma
Japan Strategy Weekly | US Tech Leads; Japan Lags
- US Stocks rallied as tech led gains; S&P 500 rose 5.3% for the week, with Nvidia up 16%, Meta 8%, Apple 6%, and Microsoft 3%.
- Japan’s Nikkei rose 0.7% as U.S.-China tariff cuts boosted semiconductors, but gains faded mid-week amid profit-taking, yen strength, and pharma sector declines.
- J. Front Retailing shares rose 22% this week, driven by speculation that an activist investor had taken a stake in the company. Large share buybacks from Sankyo and Glory
APAC Healthcare Weekly (May 18)-Hengrui Medicine, Wuxi Biologics, Chugai, GC Biopharma, Mayne Pharma
- Jiangsu Hengrui Medicine launches Hong Kong IPO to raise ~$1.3B. Wuxi Biologics is selling its drug product plant in Germany to Terumo for €150M.
- Chugai Pharmaceutical got conditional approval in Japan for gene therapy product, Elevidys for Duchenne muscular dystrophy. GC Biopharma dosed first patient in Fabry disease drug trial in Korea.
- Mayne Pharma was hit hard as an ‘untitled letter’ from the FDA related to certain promotional claims used in a speaker presentation for oral contraceptive Nextstellis, was made public.
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