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<Research>CLSA Lifts FOSUN PHARMA (02196.HK) TP to $31.6 on GLP-1 Drug Co-op with Pfizer
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FOSUN PHARMA (02196.HK) signed a US$2.1 billion collaboration agreement with Pfizer (PFE.US) for its preclinical small molecule GLP-1 drug. Due to Pfizer's active involvement and long-term arrangement in the GLP-1 field, this collaboration gives YP05002 a leading position, CLSA released a research report saying. Compared to similar licensing agreements, the financial terms are also reasonable. CLSA raised its earnings forecasts for FOSUN PHARMA, and its 2025-2027 net profit predictions by 1%/ 2.4%/ 1.9% respectively to reflect the financial impact of the deal. Meanwhile, the broker lifted its target prices for FOSUN PHARMA's H-/ A-shares from $29.6/ RMB40.2 to $31.6/ RMB42.4, with rating reiterated at Outperform. AASTOCKS Financial News Website: www.aastocks.com |
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