Bank of America Securities released a research report stating that INNOVENT BIO (01801) recently reached a commercialization agreement with Eli Lilly and Co (LLY.US) for the latter's non-covalent (reversible) BTK inhibitor 'Tepatastine' in mainland China. After factoring in the sales forecast for this product, the company's revenue forecasts for 2025 and 2026 have been adjusted upward by 1.9% and 3.4%, respectively, with the Target Price raised from HKD 54.1 to HKD 56.4, reaffirming the 'Buy' rating. The report also mentioned that HANSOH PHARMA (03692) earlier entered into an agreement with Merck to grant global exclusive rights for the development, production, and commercialization of the preclinical oral small molecule GLP-1 receptor agonist HS-10535. Bank of America raised its revenue and earnings per share forecasts for 2025 by 6.9% and 19.2%, respectively, with the Target Price increased from HKD 23.9 to HKD 24, reaffirming the 'Buy' rating.
美银证券：重申信达生物及翰森制药“买入”评级 目标价均上调
Bank of America Securities: Reiterates the "Buy" rating for INNOVENT BIO and HANSOH PHARMA, with the Target Price adjusted upward.
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