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Sino Biopharmaceutical Unveils Respiratory Drug Breakthroughs
Sino Biopharm's "TQC3721 (PDE3/4 inhibitor)" and "TQC2731 (TSLP monoclonal antibody)" have a total of 3 research data published at ERS2024.
On August 26th, Sino Biopharmaceuticals announced that the group's two innovative drugs, "TQC3721 (PDE3/4 inhibitor)" and "TQC2731 (TSLP monoclonal antibody)", will unveil three research results at the 2024 European Respiratory Society Annual Meeting (ERS2024) held from September 7th to 11th.
ZD Sun TQB2102 is conducting a large-scale Phase 3 clinical study for refractory breast cancer.
Zhengda Tianqing has initiated a Phase III clinical study of TQB2102 for injection, targeting patients with locally advanced or metastatic breast cancer in the recurrent metastatic stage who have not received chemotherapy with low HER2 expression.
Haitong Int'l: Maintains 'outperform' rating on Sino Biopharm, target price raised to HKD 5.65.
Haitong Int'l released a research report stating that it maintains a "better than the market" rating for Sino Biopharm (01177), and adjusts the company's revenue forecast for this year and next year to 29.53 billion and 33.88 billion yuan respectively, increasing by 13% and 15% year-on-year. Considering the company's R&D expense ratio entering a mature stage, continuous improvement in operating efficiency, overall financing costs reduction, and adjusting the net income attributable to owners of the parent company for this year and next year as 2.94 billion and 3.48 billion yuan respectively. The target price has been raised to HKD 5.65. The report indicated that the company's revenue in the first half of the year was RMB 15.87 billion, a year-on-year increase of 11.1%, of which innovative product revenue was 6.13 billion.
Sinolink: The results of the negotiations on drug prices in the United States have been announced, and the continuous procurement of medical devices domestically is ongoing.
Bullish on the development of the domestic medical devices industry in the second half of the year, with the industry's purchasing demand expected to accelerate recovery. At the same time, domestic leading companies in sub-sectors such as ultrasound and endoscopy, due to their strong competitiveness, are expected to further increase market share, with sales growth and profitability expected to return to an upward trend.
[Brokerage Focus] Haitong Int’l raises target price of Sino Biopharm (01177) by 9.28%, expecting its innovative products to increase and drive high revenue growth.
Haitong International released its research report and stated that Sino Biopharm (01177) recorded a revenue of 15.87 billion yuan (+11.1%) in H1 2024, with innovative product revenue of 6.13 billion yuan (+14.8%), accounting for 38.6% of revenue (+1.2pct). Gross margin was 82.1% (+0.3pct); sales and marketing expenses were 5.8 billion yuan (+11.0%), with a sales expense ratio of 36.5% (-0.1pct); administration expenses were 1.05 billion yuan (+4.6%), with an administration expense ratio of 6.6% (-0.4pct); research and development expenses amounted to 25.8.
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