CITIC CLSA has released a research report stating that it considers INNOVENT BIO (01801) to be one of China's most differentiated biopharmaceutical companies, combining industry-leading commercial execution capabilities with an ever-expanding product portfolio. The firm has raised its target price from HK$146.1 to HK$152, maintaining its Outperform rating.
The company's product sales in the third quarter of this year exceeded RMB 4.7 billion, representing a year-on-year growth of more than 40%. The firm expects the company's total revenue for this year and next year to reach RMB 18.8 billion and RMB 24.2 billion, respectively.
Its commercial team of approximately 4,800 people and portfolio of 20 marketed products provide a scalable growth platform, with new metabolism, cardiovascular, and autoimmune products complementing its oncology business.
The company remains well-positioned to achieve its 2030 revenue guidance of RMB 35 billion to RMB 40 billion. The firm has raised its revenue forecasts for the company's fiscal years 2026 through 2028 by 4.3%, 6.6%, and 10.4%, respectively, and its net profit forecasts by 14.9%, 3.9%, and 3.9%, respectively, to reflect accelerating product sales and pipeline progress.
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