[ET Net News Agency, 4 August 2020] BOCOM Research raised its target price for Fosun
Pharmaceutical (02196) to HK$43 from HK$34 and maintained its "buy" rating.
The research house expects Fosun's 1H revenue to fall 6% to RMB13.2bn, and attributable
net profit to drop 18% to RMB1.2bn. Its trastuzumab (HLX02) has been recently approved in
the EU, becoming China's first antibody biosimilar entering the EU market. HLX02 is
expected to be approved in China soon.
In addition, Fosun's adalimumab is expected to receive greenlight by end-2020. Its
pipeline has now entered the harvest period, BOCOM noted.
Meanwhile, the COVID-19 mRNA vaccine (BNT162b1) jointly developed by the company and
BioNTech has been approved for a clinical trial by NMPA (National Medical Products
Administration). In the US, it has obtained encouraging data in Phase I clinical trials
and been granted fast-track designation by FDA. With good overseas progress, BOCOM expects
the vaccine to advance rapidly after clinical approval in China. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02196 FOSUN PHARMA
Nominal 
11.760 0.000 (0.000%) Others
04/08/2020 18:01
{I-bank focus}BOCOM raises Fosun Pharma (02196) to HK$43
| Remark: | Real time quote last updated: 24/04/2024 08:03 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |