The Zhitong Finance app learned that Goldman Sachs published a research report stating that Yu Hanson Pharmaceutical (03692) had a “buy” rating and announced that Shanghai Hanson, a wholly-owned subsidiary, had signed a license agreement with GSK, with a target price of HK$16.86.

The bank believes that the two antibody drug conjugate (ADC) deals with GSK will help the Group open the door to establishing more global partnerships in the future, further validate the Group's early efforts in ADC development, and unlock the pipeline's value in the global market.

According to the report, Hanson Pharmaceuticals will collect a down payment of US$185 million and is eligible to collect a milestone payment of up to US$1,525 million for the product at the time of the event. It is expected that the group will release longer follow-up data on assets at the 2024 medical conference.