Global Healthcare Analyst

Tina Banerjee

Equity research analyst having 15+ years of experience, with an interest on fundamentally strong global healthcare companies. I have been helping investors to find future winners in healthcare space to grow their wealth by focusing on the strength and potential of the business models of the companies. My initiating coverage reports and pitch help investors to know ‘what to buy’, ‘why to buy’, and ‘when to buy’. My clients always remain on top of the sector with the help of my timely and detailed notes on earnings or any news update. I also provide broader view on the entire healthcare sector through periodic thematic reports.

CSPC Pharma (1093 HK): Finished Drugs Drag 1H25; 2H25 Expected To End with More Licensing Deals

CSPC Pharma (1093 HK): 9M25 Remain Subdued on Finished Drugs; Key Pivotal Data Read Outs Awaited

CSPC Pharmaceutical (1093 HK): Deep Value High Dividend Yield Idea; New Launches to Drive Growth

Equity Bottom-Up

CSPC Pharmaceutical Group / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cspc-pharmaceutical-group-ltd" target="_blank" data-smartkarma-citation="entities:229:1" rel="noopener">CSPC Pharmaceutical Group (1093 HK)</a> 1Q25 revenue dropped 22% YoY as finished drugs witnessed decrease on VBP and NRDL inclusion. Bulk products and license fees compensated to an extent.</li>
<li>Operating margin (23.7%) remained stable despite 11% higher R&amp;D expenses at RMB 1.3B.</li>
<li>License and collaboration in relation to the development, manufacturing, and commercialization of certain products of the company augur well in terms of future revenue visibility.</li>
</ul>



CSPC Pharmaceutical Group (1093 HK) 1Q25 revenue dropped 22% YoY as finished drugs witnessed decrease on VBP and NRDL inclusion. Bulk products and license fees compensated to an extent.
Operating margin (23.7%) remained stable despite 11% higher R&amp;D expenses at RMB 1.3B.
License and collaboration in relation to the development, manufacturing, and commercialization of certain products of the company augur well in terms of future revenue visibility.


Shanghai Fosun Pharmaceutical (Group) (2196 HK)

CSPC Pharmaceutical (1093 HK): Finished Drugs Drag 1Q25; Out Licensing And New Launches To Be Key