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BOCOM INTL: The medical insurance work conference again mentioned the Class B catalog and support for the development of commercial insurance, focusing on opportunities related to policy easing.
Recently, the pharmaceutical Sector has experienced a significant fluctuation followed by a decline. Considering that the Sector's valuation is still at a historical low, coupled with the upcoming bullish policies related to finance and medical insurance/commercial insurance and improved liquidity, this institution believes there is still room for further recovery.
[Brokerage Focus] BOCOM INTL expects commercial insurance to further develop by 2025, assisting in resolving payment issues for Innovative Drugs.
Jinwu Finance | BOCOM INTL expects that by 2025, commercial insurance will likely develop further, helping to solve payment issues for Innovative Drugs. At the same time, an innovative payment mechanism differentiated between Category B catalog and commercial insurance may alleviate the difficulties faced by Innovative Drug and device companies in entering hospitals and obtaining reimbursement. Recently, the pharmaceutical Sector has seen a significant decline after substantial fluctuations. Considering that the sector's valuation remains at historical lows, coupled with the introduction of favorable policies related to finance and medical insurance/commercial insurance, as well as improved liquidity, the bank believes there is still potential for further recovery. The bank continues to recommend potential beneficiary symbols of subsequent policy space, including: 1) AKESO (09926), Legend Health.
UBS Group: Reiterates AKESO (09926) 'Buy' rating with the Target Price raised to HKD 88.1.
UBS Group believes that the inclusion of AK112 and AK104 in the National Medical Insurance Pharmaceutical Directory (NRDL) in 2024 will drive the company's product sales growth next year.
BOCOM INTL: Assigns a "Leading" rating to the domestic Pharmaceutical Industry. Shanghai establishes a 10 billion yuan M&A Fund, which is beneficial for accelerating industry consolidation.
BOCOM INTL believes that the pharmaceutical Sector still has further room for recovery.
【Brokerage Focus】FIRST SHANGHAI gives AKESO (09926) a "Buy" rating, indicating that the R&D pipeline has initially shown world-class potential.
Jingu Financial News | FIRST SHANGHAI issued a Research Report indicating that AKESO (09926) saw its product revenue increase by 24% to 0.94 billion yuan in the first half of 2024, where the revenue from Cardunili rose by 16.5% to 0.71 billion yuan; Pembrolizumab generated 0.13 billion yuan, and Ivosidenib generated 0.1 billion yuan. Along with royalty income, the company recorded total revenue of 1.03 billion yuan, with a gross margin of 91.3%. Research and development expenses increased by 3% to 0.59 billion yuan, resulting in a net loss attributable to shareholders of 0.24 billion yuan. The company had net cash on hand of 2.4 billion yuan as of 2024. There were two placements in 2024 (in March and October) which raised 1.17 billion and 19.2 million respectively.
GF Securities Starts Akeso at Buy With HK$81.59 Price Target
MayFlower : It was predictable..
Midnite52 : yep