On July 10, Hengrui Pharma rose 3.08% in regular trading, trading at HKD 60.35/share, with turnover of HKD 40.08 million.
On the news front, UBS published a research note reiterating a Buy rating on Hengrui Pharma, citing positive Phase III clinical trial results for its weight-loss drug HRS-7535. The trial achieved its primary endpoint, with the 180mg once-daily dose group recording a 9.8% body weight reduction by week 44. Notably, the weight-loss effect has not plateaued, and the drug demonstrated good tolerability. The company expects to submit a New Drug Application in China this year.
UBS forecasts Hengrui's GLP-1 product portfolio could generate sales of RMB 5.9 billion in the Chinese market by 2035. The bank maintains its H-share target price of HKD 97.4, implying approximately 62% upside from the current level. Additionally, UBS noted that two domestic Phase III clinical trials for Type 2 diabetes have successfully met their primary endpoints.
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