P1101 launch in 2017F a profit catalyst
​We like PharmaEssentia as 1) its first new drug P1101, a long-acting Interferon, should have positive results treating Polycythemia Vera (PV) in phase III clinical trials which will be released in 4Q16; 2) P1101 is estimated to launch in Europe & the US in 2017F, likely ushering in rapid growth; and 3) P1101, with its milder adverse events (AE), has potential to replace existing interferon products. We estimate 2016/17/18F EPS of NT$-4.5/0.83/6.13, based on capital of NT$1.96 bn. Our TP of NT$286 is derived from P1101’s sales NPV in the next 12 years.
PharmaEssentia Corp. is engaged in the research, development, production and sale of new drugs. The Company research and development of new drugs, which are used for treatment of hematology, such as meloproliferative neoplasms (MPN), neutropenia, anemia; infectious disease, such as hepatitis C and hepatitis B; dermatology, such as psoriasis, and neurology, such as multiple sclerosis, among others. The Company's products include KX01, P1101, Polycythemia Vera (PV), PEG-GCSF, PEG-EPO and others. The Company distributes its products within domestic market and to overseas markets.
Yuanta is a Taiwan-headquartered brokerage with a growing presence in Asia, especially across Greater China. Our team of 140+ provides cutting-edge analysis on key sectors, spread across offices in Taiwan, Hong Kong, Shanghai (A-Share), Seoul and Jakarta. With an ever-expanding coverage universe of 400+ companies, we provide in depth analysis with unique local color to investors. Consistently being voted the Best Investment Consulting Firm in Taiwan in the AsiaMoney broker poll is evidence of our strength. We target providing an extensive range of research, from small, to mid-sized, to large cap. We bring you the big, well-covered names, as well as going off the beaten track to research the less-familiar companies.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.