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<Research>JPM Expects INNOVENT BIO (01801.HK) to Adopt Flexible Pricing Strategy for Mazdutide; Rating Overweight
Recommend 11 Positive 13 Negative 2 |
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INNOVENT BIO (01801.HK)'s share price descended approx. 7% yesterday (8th), compared to a decline of about 1.5% in the HSHCI on the same day, JPMorgan released a research report saying. The drop is believed to be related to the results of the National Reimbursement Drug List (NRDL) negotiations announced last weekend, with investors concerned about Eli Lilly and Company (LLY.US)'s tirzepatide being included for diabetes treatment, potentially adding pressure on the sales potential of INNOVENT BIO's mazdutide. The inclusion of Eli Lilly's tirzepatide in the NRDL was not entirely unexpected, and believed that INNOVENT BIO's mazdutide can adopt a flexible pricing strategy in response, JPMorgan noted. The weight loss drug market in China is vast, providing ample space for the development of several blockbuster drugs, the broker added. Therefore, JPMorgan rated INNOVENT BIO at Overweight, as it was optimistic about its product pipeline covering multiple fields such as oncology, autoimmune, metabolic diseases, and ophthalmology. The broker believed that short- to medium-term investors may focus on the Company's ability to license out assets. JPMorgan forecasted that, in 2027, INNOVENT BIO will have more than ten products on the market, with sales reaching RMB17 billion, and a target price of $110. AASTOCKS Financial News Website: www.aastocks.com |
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