HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 13 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

Pine Care Group (1989.HK) - Hard to Make Profits Due to Industry Characteristics; Here Is What to Do

Pre-IPO Giant Biogene - The Strength and the Concerns

China Healthcare Weekly (Oct.14) - State Finance Discount for Medical Device; IVD VBP; VBP Changes

Pre-IPO Jenscare Scientific - Difficult to Achieve Expected Commercialization Results

Pre-IPO Beijing Continent Pharmaceuticals - The Orphan Drug Pioneer Needs to Expand Overseas

Pre-IPO Betters Medical Investment Holdings - The Industry, the Business and the Concerns

Gravity Works As WeWork Doesn't; Now Plan B

Equity Capital Markets

<ul>
<li>Laekna’s development mode is mainly based on license-in. However, the increasingly low cost performance of in-licensed products and potential legal risks have made the capital “reconsider”. </li>
<li>Both two core products LAE002 and LAE001 have to face the challenge of market acceptance and potential R&amp;D failure risks. China’s NRDL negotiation further casts doubts on their commercialization prospects.</li>
<li>So, the investment in Laekna may not generate expected return. Together with the unfriendly external environment, we are conservative about <a href="https://www.smartkarma.com/entities/laekna-inc" target="_blank" data-smartkarma-citation="entities:36029:1" rel="noopener">Laekna (LAEKNA HK)</a>’s outlook at the current stage.</li>
</ul>


Laekna’s development mode is mainly based on license-in. However, the increasingly low cost performance of in-licensed products and potential legal risks have made the capital “reconsider”. 
Both two core products LAE002 and LAE001 have to face the challenge of market acceptance and potential R&amp;D failure risks. China’s NRDL negotiation further casts doubts on their commercialization prospects.
So, the investment in Laekna may not generate expected return. Together with the unfriendly external environment, we are conservative about Laekna (LAEKNA HK)’s outlook at the current stage.


Pre-IPO Laekna - Low Cost Performance of License-In Mode Leads to A "Rethink" Of Investment Value