[ET Net News Agency, 30 November 2020] Jefferies Research lifted its target price for
Sihuan Pharmaceutical (00460) to HK$0.95 from HK$0.8 and maintained its "hold" rating.
The research house said Hugel's Letybo will be the 4th BTX (botulinum toxin) player in
China after Allergan (Botox), Lanzhou Institute of Biological Products (Hengli), and Ipsen
(Dysport).
Jefferies noted Hugel has a 40% BTX market share in Korea. Letybo is positioned as a
Botox alternative as it has demonstrated comparable safety and efficacy to Allergan's
Botox in Phase III head-to-head trial. The official botox market in China was US$600mn in
2019 and is expected to grow by double digits.
Management expects their BTXs to be priced at a 30-40% discount to Allergan's. Sihuan
expects sales of RMB 500-600mn in 2021 and to reach 30% market share in the long run.
Jefferies believes this is an excellent opportunity for Sihuan to explore the medical
aesthetic market. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00460 SIHUAN PHARM
Nominal 
0.530 -0.010 (-1.852%) Others
30/11/2020 16:29
{I-bank focus}JEF lifts Sihuan Pharm (00460) to HK$0.95
| Remark: | Real time quote last updated: 23/09/2024 17:59 |
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