TIGERMED (03347.HK) will likely benefit from the more stringent new regulations on anti-tumor drugs introduced by China National Medical Products Administration (NMPA), while its overseas business is believed to be able to serve as a new growth driver, reported UBS. The broker kept the Buy rating for TIGERMED, while cutting its target price from $246.76 to $173.82.
UBS added that the strong order backlog of TIGERMED will ensure the earnings growth of the company in short to medium term.
The company has more than 140 overseas clinical trial projects and over 30 global multi-center clinical trials. With more Chinese innovative drug R&D companies poised to venture into the overseas market, the overseas operation of TIGERMED is expected to enjoy ample room of growth, the broker remarked.
UBS added that the strong order backlog of TIGERMED will ensure the earnings growth of the company in short to medium term.
The company has more than 140 overseas clinical trial projects and over 30 global multi-center clinical trials. With more Chinese innovative drug R&D companies poised to venture into the overseas market, the overseas operation of TIGERMED is expected to enjoy ample room of growth, the broker remarked.
