SINO BIOPHARM Shares Rise Nearly 4% by Midday, Bank of America Securities Reiterates "Buy" Rating

Deep News01-13

SINO BIOPHARM (01177) saw its intraday gain exceed 4%. As of the time of writing, the stock price was up 3.50%, trading at HK$7.09, with a turnover of HK$439 million.

Recently, Bank of America Securities released a report indicating that mainland China's pharmaceutical industry drug sales in October fell 3% year-on-year, a significant slowdown compared to the growth rate in September. The firm reiterated its "Buy" rating on SINO BIOPHARM.

The report showed that hospital channel sales turned to a year-on-year decline of 3.3%, while retail channel sales remained largely flat. The performance of SINO BIOPHARM's products was mixed, with sales growth for some core products but significant declines for others.

Based on the sales data, Bank of America Securities made minor adjustments to its revenue forecasts for 2026 and 2027, lowering the target price from HK$9.4 to HK$8.3. Furthermore, CSPC Pharmaceutical Group maintained its "Underperform" rating due to sluggish sales of its key drugs.

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