[ET Net News Agency, 17 February 2021] Guotai Junan International lifted its target
price for Sihuan Pharmaceutical (00460) to HK$2.78 from HK$1.15 and maintained its
"accumulate" rating.
The research house said the medical aesthetics platform is expected to serve as the
major source of revenue in the coming three years. Meanwhile, type A botulinum toxin for
injection (Letybo) marketing activities officially commenced in early February.
Guotai Junan said the market size of botulinum toxin products in China was RMB4 billion
in 2019, and it is expected to reach RMB11.5 billion in 2025, with a CAGR of around 19%.
It expects that Letybo will take up around 30% market share of botulinum toxin products in
the coming three years. (KL)