Nomura has completed a technical review of the biosimilar of trastuzumab and is currently undergoing an administrative review of the product, published a research report. It is expected that Han-Lin-B (02696.HK) will be approved for the listing of Simplified New Drugs (ANDA) in July this year, earlier than expected.

In addition, on July 8, the Company announced an increase of 8,000L production capacity, which is expected to increase its total production capacity to 20,000L. The Bank raised the company's sales forecasts of trastuzumab biosimilar to 720 million, 1,847 million and 2,224 million respectively from 2020 to 2022, reflecting the temporary elimination of capacity bottlenecks and higher penetration in the hospital market in the second half of the year.

The Bank maintained the company's “Buy” investment rating, with a target price increase from $52.4 to $76.7, bringing the Company's revenue forecasts from 2020 to 2022 to RMB935 million, 2.557 million and 3,839 billion respectively, reflecting the expansion of capacity and approvals of new drugs for trastuzumab biosimilar. The company is expected to achieve break-even early in 2022, which is earlier than the Bank's earlier expectations. (jc/k) ~

ASDAK Financial News

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