Original title: Nomura raised Fuhong Hanlin's target price to HK$76.7 to maintain the buying rating

Nomura raised the target price of Fuhong Hanlin-B (02696.HK) from HK$52.4 to HK$76.7, maintaining the “buy” rating.

Nomura released a report saying that the National Drug Administration has completedtrastuzumabTechnical review of biosimilars, and administrative review of this product is currently under way. Nomura's current forecastFu Hong Han Lin-B will be approved for the Simple New Drug Marketing Procedure (ANDA) in July of this year, earlier than Nomura predicted.

Furthermore, on July 8, the company announced an increase in production capacity of 8,000 liters, so its total production capacity is expected to rise to 20,000 liters. Currently the company's from 2020 to 2022trastuzumabBiosimilar sales forecasts rose to $720 million, $1,847 million and $2,224 million, respectively, to reflect the temporary elimination of production capacity bottlenecks and increased penetration in the hospital market in the second half of the year.