Shanghai Junshi Bioscience

Shanghai Junshi Bioscience (1877.HK/688180.CH) - Behind the “break Up” with AstraZeneca

Equity Bottom-Up
166 Views, 10 Jan 2022 09:05
EXECUTIVE SUMMARY
  • Shanghai Junshi Bioscience Co. Ltd. (1877 HK) announced that it has terminated its PD-1 commercialization partnership with AstraZeneca. Lower-than-expected sales performance is seen as the key reason.
  • Junshi's commercialization team is the weakest among the domestic Top Four.As the FDA's attitude may have changed, the logic of exporting innovative domestic drugs to foreign markets could be shaken.
  • Given the poor financing environment,it's challenging for Junshi to afford large investment in R&D and licensing deals by just relying on cash in hand and cashflow generating from commercialized products.
detail (4-minute read)
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Xinyao (Criss) Wang
HK/China Healthcare Analyst (ex-Fosun Pharma)
ChinaHealth CareEquity Bottom-UpThematic (Sector/Industry)

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

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