The Insider
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Directors of pharmaceutical companies big share buyers in latest week

Executives of Consun Pharmaceutical Group, Jacobson Pharma Corp and Lee’s Pharmaceutical Holdings big buyers of their own companies’ stock at the end of October

PUBLISHED : Sunday, 29 October, 2017, 6:50pm
UPDATED : Sunday, 29 October, 2017, 10:26pm

Buying was flat while selling among Hong Kong company directors fell for the first time in the past three weeks, based on filings to the stock exchange in the fourth week of October.

Buyers outweighed sellers, with 51 companies recording 230 purchases worth HK$498 million (US$63.82 million) versus 16 firms with 44 disposals worth HK$264 million. The number of firms and trades on the buying side were consistent with the previous week’s 48 companies and 232 purchases. The buying value, however, was sharply up from the previous week’s HK$379 million.

On the selling side, the number of firms was consistent with the previous week’s 15 companies. The number of trades and value, however, were down from the previous week’s 51 disposals worth HK$2.16 billion.

Meanwhile, buy-back activity fell for a second straight week with 18 companies that posted 86 repurchases worth HK$913 million based on filings from October 20 to 26. The number of trades was consistent with the previous five-day total of 89 repurchases. The number of firms and the value, however, were down from the previous five-day totals of 23 companies and HK$1.04 billion.

There was bullish activity in pharmaceutical plays last week, with insider purchases in Consun Pharmaceutical Group, Jacobson Pharma Corp and Lee’s Pharmaceutical Holdings.

Chairman An Yubao and CEO Li Qian acquired a combined 109,000 shares of Chinese medicines manufacturer Consun on October 19 at an average of HK$6.57 per share. An bought 9,000 shares on October 19 at HK$6.48 each, increasing his holdings to 215.249 million shares or 25.99 per cent of the issued capital.

Li bought 100,000 Consun shares on October 19 at HK$6.57 each, which boosted her stake to 142.780 million shares or 17.24 per cent.

The chairman and CEO of generic drugs and proprietary Chinese medicines manufacturer Jacobson Pharma Corp, Derek Sum Kwong-yip, bought 826,000 shares from October 19 to 20 at HK$2.07 each. The trades increased his holdings to 1.290 billion shares or 71.05 per cent of the issued capital.

Sum resumed buying this month at higher than his acquisition prices earlier this year.

The recent purchases accounted for 52 per cent of the stock’s trading volume

Managing director Leelalertsuphakun Wanee bought 281,000 shares of biopharmaceutical products manufacturer and distributor Lee’s Pharmaceutical Holdings from October 9 to 19 at HK$6.21 to HK$6.71 each, or an average of HK$6.42 each. The trades increased her holdings to 121.430 million shares or 20.55 per cent of the issued capital.

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