International Biotech is determined to solve the problem that does not meet clinical needs. Tengsheng Bo Pharmaceutical is a Biotech with headquarters in China and the United States at the same time. It was founded to face the global market and build differentiated product lines for patients in different regions. The founder, Dr. Hong Zhi, was the head of GlaxoSmithKline PLC's infectious disease treatment field, and most of the company's executives also have multinational experience, rich industry experience and familiarity with the global drug development process. The company is currently focused on the field of infectious diseases and CNS disease treatment, through cooperation with overseas well-known enterprises and the joint efforts of Chinese and American R & D teams to solve the unmet clinical needs of patients.
The combination of functional cure drugs for hepatitis B has rapid clinical progress and good results: China is a large country with hepatitis B, with about 86 million hepatitis B virus (HBV) carriers and nearly 2800 million patients with chronic hepatitis B. In order to meet the needs of large patients, Tengshengbo introduces hepatitis B siRNA drugs (BRII-835), therapeutic vaccines (BRII-179) and hepatitis B neutralizing antibodies (BRII-877), which constitute the product portfolio that is most likely to achieve functional cure in the research drugs.
Clinical data show that the company's hepatitis B product portfolio can effectively reduce hepatitis B surface antigen HBsAg over 3logIU/ml, and is ahead of the domestic clinical progress, and is expected to become the earliest similar product on the market in China.
The rapid approval of the new crown neutralization antibody demonstrates the ability to solve the emergency public health: the COVID-19 epidemic caused great pressure on social and public health in 2020. it took 20 months to launch China's first new crown neutralization antibody cocktail combination (ambavirin / romisovir), and it is also the first COVID-19 treatment that has been independently developed and marketed in China. Novel coronavirus's rapid mutation invalidated many kinds of neutralizing antibodies that had been listed overseas, but Tengshengbo drug products showed that they remained active against many variants such as Delta and Omicron, and had broad market potential. This product has been included in China's "COVID-19 diagnosis and treatment Program (trial Ninth Edition)".
International team operation, looking for breakthrough treatments in the field of infectious diseases and CNS: the company focuses on infectious diseases and CNS diseases and is committed to addressing diseases that cause major public health burdens. In the field of infectious diseases, the company distributes HIV drugs and new antibiotics; in the field of CNS, the company arranges antidepressants, and the selected indications do not meet the clinical needs. The company's team has an international vision, and most of the management have high-level experience in multinational pharmaceutical companies. the products under research take global cooperation and development as the means, and common sales at home and abroad as the purpose, and are committed to becoming a global Biotech.
Profit forecast, valuation and rating: we forecast that the company's 22-24 revenue will be 250.8 billion yuan, respectively, and the net profit will be-3.66 million, respectively. We use the absolute valuation method to value the company's products, giving an overall valuation of 12.12 billion yuan, which translates to about HK $14.09 billion at the exchange rate of HK $0.86 to RMB, and a "buy" rating based on the current total share capital of 723 million shares, corresponding to the target price of HK $19.50.
Risk tips: the listing of hepatitis B drugs is blocked, the progress of research and development is not up to expectations, and the sales are not up to expectations.