[ET Net News Agency, 3 November 2020] Daiwa Research initiated coverage on Sino
Biopharmaceutical (01177) with a "buy" rating and a target price of HK$11.
The research house said Sino Biopharm one of the largest pharma companies in China.
Daiwa sees promising long-term prospects given its edge in innovation and market-leading
position in the generic drugs business.
It said Sino Biopharm has 41 innovative drugs at the clinical stage or above, second
only to Hengrui's (Shanghai: 600276) 55 drugs. Anlotinib is its flagship innovative drug
with potential peak revenue of CNY10.5bn by 2024. Other potential blockbusters include
penpulimab (PD-1 mab), TQB2450 (PD-L1 mab), and TQB3804 (a fourth-gen EGFR inhibitor) with
potential peak revenue of CNY6bn, CNY3bn, and CNY4bn, respectively. (KL)