Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Global hedge funds chase Hong Kong stocks rally, UBS says
HONG KONG (Reuters) - Global hedge funds that use an equities long-short strategy are growing increasingly bullish on China, evidenced by the heavy pick-up in their purchases of Hong Kong-listed shares, UBS Group said in a note.
Hong Kong's stock markets, which closely mirror China's struggling performance, have recovered since March as Beijing rolled out economic support measures. The Hang Seng Index rose more than 7% in April, marking its best monthly gain since January 2023 and outperforming most major markets.
https://finance.yahoo.com/news/global-hedge-funds-chase-hong-024837696.html
Two HK announcements this week:
29/4 Innovent produced an overall Q1 sales number and YOY comparator +60%.
Innocare has announced a Board meeting to release its Q1 performance is on13/5.
Nice job Jatw
This is the response to my recent email to IR (I was surprised to get a reply). As they acknowledge competitors starting to do quarterly sales reporting I think this will be considered and will come in due course…..probably best once new revenue streams start kicking in and start Q1 25.
Sorry for slow reply.
Thank you for your strong and long support of Hutchmed.
Some of our peers start to do quarterly updates as their portfolio of products and scale of operation expand.
We will seriously and carefully consider your suggestion.
In the meantime, please do realize the reporting formats may differ between our partners and ourselves.
Our revenue also comprises different components, including royalties, manufacturing,...
So, our case may be slightly different from peers who do their own manufacturing, marketing and distribution, capturing 100% of product profits.
Please continue to support us and feel free to send us comments.
Approaching round numbers $20, always a favourite for prop traders as investors breath a sigh of relief crossing said threshold, only for the rug to be unceremoniously pulled from under ..
I have delved a little more into the EU processes for delivering new drugs to patients.
It seems that many markets have a state system that controls the price of the drugs reimbursed by the state. These are largely unco-ordinated although some reference the prices paid in other countries in price setting. They have a benchmark of added value and don’t reimburse new drugs unless they add value above the cost / benefit of existing treatments.
Germany seems to be the first market that drugs should be launched in as they have a one year period before the state price is set.
All of this makes me think that Takeda will require 2-3 years to establish full volume sales across the EU, although some of the less restricted markets can be up and running quite quickly.
Perhaps, the ‘analysts’ in London and US were unable to ‘analyse’ CHMP’s POSITIVE opinion about fruq….
This morning, they seemed to have realised the meaning of ‘positive opinion’, of course, after getting a clue from HK.
Jatw, yes indeed. What happenend in London and the US on Friday left me puzzled. Thank goodness sanity has been restored.
It seems HK takes a different view…going back to 310p today in London.
Par for the course, see comments on results day..
I understand the sentiment but I hope they have the patience (and the patients)
It’s nothing but a crooked and desperate effort by the market manipulators.
The UK MHRA can approve marketing of drugs that already have an EC MAA in 3 months from EC approval….it then takes NICE a while to approve use in the NHS ( a year and then 3 months for funding to be made available)….so the majority of the UK isn’t getting Fruq* until 2026 atleast…maybe Takeda wont even bother with the UK market.
Only the shareholders in this company could think that a positive CHMP opinion is a reason to sell!
The EC now considers the opinion, and has up to 67 working days to confirm the marketing authorisation. So in 3 months time Takeda should be able to start selling Fruq* across the EU and a few other territories. The number of new cases across the EU is 3x the USA market. The centres involved in FRESCO-2 will be ready to roll at the end of July. There should be a decent volume of EU sales in 2024.
Is my chronology correct here:
This morning up 2% in London
Positive RNS released in USA
London down 5%?
Only asking, as it seems unusually perverse even for this company...
Thanks again for a detailed explanation and for emailing the investors’ relations at HCM. Hope they respond to your query. (In my experience, getting a response from the IR is not as straightforward as it used to be during Mr Hogg’s period)
Waiting for Takeda’s results scheduled for 9th May.
Looking again at the sales of Orpathys, Q1 23 was a weak period in the run up to NRDL inclusion. The AZ 43% rise is not that different to the YOY sales increase between 2022 and 2023 reported by HCM, so it is more of a continuation of the sales levels seen in H2.
HCM captured about 5/8ths of the sales last year in royalty and manufacturing fees. Continuing Yuan weakness against the USD may not mean there is much difference in the overall run rate in the HY results and the royalty will continue. The AZ pipeline does indicate there are several data read outs due this year, those will not kick in until 2026 as they will spend 2025 in the review process.
Takeda reports on 9 May and will give a full 3month sales figure for Fruq*in the US. This is the more significant revenue to watch in the short term..
I wrote to the ir email encouraging a quarterly revenue update…..I think it is important they demonstrate they are on track for the pharma revenue this year. Even more important next year they may want to demonstrate the effects of 2024 product approvals on revenues. It is the year they hope/expect to be sustainably cash positive from the Pharma business.
Typo error; ‘It will be nice..’
Jatw, thanks for the information about raise in the sales of Orpathys. As a result, is HCM expected to gain an improved royalty from AZN?
It is be nice if HCM releases an update. Hope they do so.
SS, your optimism can become real if the 184 billion company shows an interest in the 2.8 billion company!!
AZ has reported Q1 Orpathys sales up 43% (48% at CER).
This continues and extends the increases reported by HCM.
Can only be good news….(Takeda reports 2024 sales in its Q4 results on 9 May)…..HCM should consider a quarter 1 sales update.
Looking a bit more positive of late which is most encouraging. From here it only needs to double....
Sorry the reference to HCM should be FRUSICA-1
gsk has submitted a supplementary biologics application to be assessed by 24/08/24 by fda, this seems to cover a similar population to the endometrial cancer submission for fru*****inib + sintilimab.
the gsk study is called ruby, the results of both studies are to be published. as i follow both companies i will update when more is known.
Its very likely UK and Eurozone along with Asia will end up with declining interest rates on the back of receding inflation, US being the odd dude out.
Its a long time since this scenario last played out, but given the chronic undervaluation's of UK stocks this can only act as a tailwind ..