The 2014 All-Asia Research Team: Health Care & Pharmaceuticals, No. 3: Iris Wang & team
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The 2014 All-Asia Research Team: Health Care & Pharmaceuticals, No. 3: Iris Wang & team

Iris Wang & team

Credit Suisse

First-place appearances: 1

Total appearances: 5

Team debut: 2008

After a year’s absence from this list, Credit Suisse returns to seize the No. 3 position and notch its strongest showing since 2010. Hong Kong–based newcomer Iris Wang teams with one colleague in Australia and another in India in tracking 43 Asian health care names. They intend to expand coverage in the near term, she reports, as the Asian health care sector itself grows. The researchers believe that “the China health care sector remains a generic-products market,” Wang says. They are therefore advising clients that “execution in sales and marketing is as important as innovation.” Against this backdrop, last June the squad began reporting on Bloomage BioTechnology Corp., a Chinese manufacturer of biochemical inputs for use in cosmetic, food and medical products. “Medical cosmetology has seen explosive growth in China,” explains Wang, “and Bloomage has clear first-mover advantage in building its distribution franchise in cosmetology hospitals in China.” Moreover, they thought the stock was undercovered by the sell side when they launched coverage with an outperform rating. The stock really took off, rocketing 111 percent through late April, to HK$9.81, and trouncing the broader region’s 16.2 percent decline. “Iris does a lot of channel checks and proprietary surveys and has a gut for nonconsensus views,” one advocate declares.

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