Everest Medicines (SEHK:1952) Is Down 7.0% After Striking First Ophthalmology Deal With Visara Inc

• On October 28, 2025, Everest Medicines Limited announced it had entered into an exclusive licensing agreement with Visara Inc. to develop, manufacture, and commercialize VIS-101, a novel bifunctional biologic for wet age-related macular degeneration, diabetic macular edema, and retinal vein occlusion, in Greater China, Singapore, South Korea, and select Southeast Asian countries, with upfront, milestone, and royalty payments totaling up to US$89 million plus additional expenses.
• This agreement represents Everest’s first move into ophthalmology, expanding its late-stage pipeline and targeting high unmet medical needs with a differentiated and potentially longer-lasting therapy.
• We’ll examine how entering ophthalmology with VIS-101 could reshape Everest Medicines’ investment narrative and growth outlook.

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Everest Medicines Investment Narrative Recap

To be a shareholder in Everest Medicines, you need confidence in its ability to execute on a high-risk pipeline while driving rapid commercialization of innovative treatments in areas with serious unmet needs. The VIS-101 licensing deal signals entry into ophthalmology, but it does not fundamentally alter that the most important near-term catalyst remains maximizing revenue from NEFECON; key risks still center on dependence on this product and pipeline execution challenges, so the overall impact is not material in the short run.

Among Everest’s recent announcements, the May 2025 full market approval and NRDL inclusion for NEFECON in China has had the greatest impact, substantiating analyst views that the company’s immediate growth remains tied to this asset. VIS-101 diversifies the late-stage pipeline, but investors are likely to watch NEFECON’s sales progression and reimbursement coverage for signs of sustainability in earnings and market share.

However, investors should be aware that, in contrast to Everest’s expanding pipeline, heavy reliance on NEFECON for short-term revenue means...

Read the full narrative on Everest Medicines (it's free!)

Everest Medicines' narrative projects CN¥3.6 billion revenue and CN¥770.8 million earnings by 2028. This requires 62.2% yearly revenue growth and a CN¥1,429.6 million increase in earnings from CN¥-658.8 million today.

Uncover how Everest Medicines' forecasts yield a HK$64.56 fair value, a 41% upside to its current price.

Exploring Other Perspectives

Just one fair value estimate of HK$103.83 from the Simply Wall St Community points to potential undervaluation versus the current price. As NEFECON drives near-term revenue, others may weigh the concentration risk and seek alternate viewpoints on future growth drivers.

Explore another fair value estimate on Everest Medicines - why the stock might be worth over 2x more than the current price!

Build Your Own Everest Medicines Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Everest Medicines research is our analysis highlighting 3 key rewards that could impact your investment decision.
• Our free Everest Medicines research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Everest Medicines' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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