Biotech IPO Watch: Simcere Supplies High-End Generics In China [View article]
"seeking a Price/Revenue multiple of just 7 "
This guy must be really dumb ! does not mention recent Chinese pharma IPOs (TCM and SSRX) trading below IPO prices and that the profits for SCR for both 2005 and 2006 were because of Tax holiday and it expires this year and will be paying a minimum 15% tax. Plus the generic drug Bicun I believe which contributed 25% to 2006 revenues, its exclusive 5 year rights is expiring at the end of this year and will be open for competition in 2008 from other generic drug makers.
Biotech IPO Watch: Simcere Supplies High-End Generics In China [View article]
This guy must be really dumb ! does not mention recent Chinese pharma IPOs (TCM and SSRX) trading below IPO prices and that the profits for SCR for both 2005 and 2006 were because of Tax holiday and it expires this year and will be paying a minimum 15% tax. Plus the generic drug Bicun I believe which contributed 25% to 2006 revenues, its exclusive 5 year rights is expiring at the end of this year and will be open for competition in 2008 from other generic drug makers.