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Bocom intl reiterates a "buy" rating for Sino biopharm, with a target price of HKD 4.8.
Bocom Internationals released a research report, reiterating its bullish rating on Sino Biopharm (01177) and raising the net income forecast for 2024-2026 by 2-3% to reflect a stronger performance growth outlook. The target price is set at 4.8 Hong Kong dollars. The bank is optimistic about its certainty in achieving long-term high growth under the drive of innovation and research and development after the basic clearance of the impact of the generic drug procurement. Main points of the report include: The elasticity of the H1 2024 performance recovery is large, and the overall impact of drug price governance is limited; The bank has updated recent operating conditions with the management, as follows: 1) The certainty of H1 2024 performance growth rebound is high, and the bank expects income and net income to
Guoyuan Securities: Each overseas business model has its own advantages and disadvantages. Pharmaceutical companies should choose according to their own size.
Leveraging external resources is currently the most mainstream mode for Chinese pharmaceutical companies to expand overseas, which is suitable for companies with limited resources and in need of international experience accumulation, but it also means that the company's voice will be weakened and the relative benefits of sharing will be limited.
Founder Securities initiates coverage on Sino Biopharmaceuticals (01177) with a strongly recommended rating, bullish on its innovative empowerment and international expansion trend.
Founder Securities' research report stated that Sino Biopharm is entering a period of comprehensive transformation and innovation with four main focuses of self-research and development + BD layout. The company is actively exploring four key innovative areas in oncology, liver disease, respiratory, and surgery/pain, with rich technology layout and accelerated clinical speed, achieving rapid growth in revenue from innovative products. The bank expects the company's revenue to be RMB 29.727 billion, RMB 33.577 billion, and RMB 38.427 billion from 2024 to 2026, with year-on-year growth rates of 12.7%, 12.95%, and 14.44%, and net income of RMB 39.11.
Hong Kong stock concept tracking | Innovative drug policy released, medical companies will speed up improvement in the second half of the year (with concept stocks).
Recently, several domestic heavyweight innovative drugs have been approved, and heavyweight data has been successively announced by ASCO, ESMO, ADA, and EHA. The negotiation rules for payment-side medical insurance tend to be clear and mild, and the regulatory side promotes the industry around clinical value. Domestic new drugs have entered the 2.0 era.
Hong Kong stock market concept tracking | Heavy policies supporting the development of innovative drugs are introduced! The industry is expected to enter the fast lane of development (with concept stocks).
On July 5th, the State Council's executive meeting discussed and deployed the work related to promoting high-quality development of the digital economy, and approved the Implementation Plan for Supporting the Development of Innovative Drugs throughout the Whole Chain.
HKEX movements: Zhongsheng Pharmaceutical (01177) up more than 4%, implementing its first share incentive plan since going public; management remains optimistic about double-digit growth for the year.
China Biopharma (01177) is now up more than 4%. As of press time, it has increased by 4.03%, to 2.84 Hong Kong dollars, with a turnover of 0.123 billion Hong Kong dollars.
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