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Shanghai Pharmaceuticals' Unit Gets Approval for Eltrombopag Ethanolamine Tablets' Registration
Sh Pharma (601607.SH): Approval for production of Apalutamide Ethanolamine Tablets
On July 23, Gelonghui reported that Shanghai Pharmaceuticals (601607.SH) announced that its subsidiary, Changzhou Pharmaceutical Factory Co., Ltd. ("Changzhou Pharmaceutical Factory"), received the Drug Registration Certificate (Certificate No.: 2024S01665) approved for production by the National Medical Products Administration for the drug, Epacadostat Ethylamide Tablets. The drug is used to treat chronic immune thrombocytopenia (ITP) in adults and children over six years old who have had a poor response to glucocorticoids, immunoglobulins, and other treatments, increasing platelet counts and reducing or preventing symptoms.
Shanghai Pharmaceuticals Holding Co., Ltd's (SHSE:601607) Stock Is Rallying But Financials Look Ambiguous: Will The Momentum Continue?
Citigroup: Maintains a "buy" rating for Sh Pharma with a lowered target price of HKD 16.2.
According to a research report released by Citigroup, the earnings per share forecast for Shanghai Pharma in the next two years has been reduced by 13.4% and 13.2% respectively to reflect the slowdown in industry growth in the second quarter of this year. The target price has been lowered from HKD 17.5 to HKD 16.2, while the "buy" rating is maintained. The report states that the management of Shanghai Pharma mentioned in a recent conference call that the company will continue to face pressure in its manufacturing business in the second quarter due to the price reduction of polymyxin B. As for the distribution business, the company's second-quarter performance remained above the industry average, benefiting from the strong growth momentum of innovative drugs, medical equipment and medical beauty sectors.
Citigroup: Maintains 'buy' rating for Sh Pharma (02607), target price lowered to HKD 16.2.
Citigroup has lowered its earnings per share forecasts for sh pharma (02607) by 13.4% and 13.2% for the next two years.
Shanghai Pharmaceuticals Holding Co., Ltd Declares $0.2233 Dividend
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