Jinwu Financial News | According to Citigroup Research, Pharmaceutical (02269) announced earlier that it had sold assets related to Irish vaccine facilities to MSD International (MSD International) for a total consideration of about 0.5 billion US dollars (about HK$3.9 billion).
The bank said that although Pharmaceutical Biotech's move to divest designated overseas facilities is in line with market expectations, some people may still view the sale of assets as a defensive action against potential geopolitical risks. The bank believes that the Irish vaccine facility deal will not have a negative financial impact on the company and will improve its overall profitability.
Citigroup's target price for Medicinal Biotech is HK$30, giving it a “buy” rating.
