[ET Net News Agency, 26 August 2019] Goldman Sachs lowered its target price for 3SBio
Inc. (01530) to HK$17.1 from HK$18.92 and maintained its "buy" rating.
The research house said 3SBio's 1H net profit of Rmb321mn missed, due to one-off
Rmb340.5mn share option expenses. Goldman views the potential approval for 302H (HER-2
antibody) by 2019/early 2020 as a key catalyst. The company plans to build a dedicated
oncology commercial team (200-300 sales reps) to support 302H launch as well as a growing
oncology pipeline (clinical development team of 100).
Goldman now turned a more conservative for 2019-24 EPS CAGR of 18% from 20%. (KL)