According to Zhito Finance APP, Morgan Stanley issued a research report stating it has given HANSOH PHARMA (03692) a "Shareholding" rating, with a Target Price of 24 HKD.

HANSOH PHARMA announced a global exclusive licensing agreement with Merck, granting it global exclusive rights to develop, manufacture, and commercialize the preclinical oral small molecule GLP-1 receptor agonist HS-10535, involving an upfront payment of 0.112 billion USD, as well as milestone payments and royalties based on product sales of up to 1.9 billion USD.

Morgan Stanley believes that the news will have a positive reaction on the stock price. Although HS-10535 has received little attention from investors in the past, it may not significantly contribute to the valuation of HANSOH PHARMA, but it is believed that this authorization demonstrates the quality of the company's product pipeline and research capabilities. Considering the fierce competition in the global GLP-1 market, this move will help reduce risks and allow the company to allocate resources to the development of other differentiated pipeline candidates in the future.