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CLSA Keeps Rating at High Conviction Outperform for CSPC PHARMA (01093.HK) w/ TP $13.8
2025-05-30 15:00:40
Despite challenges in the sales of CSPC PHARMA (01093.HK)'s NBP and Duomeisu, 1Q25 results was still in line with expectations, with net profit declining by 8.4% YoY, according to CLSA's research report.

CLSA believed that CSPC PHARMA's earnings have bottomed out in 1Q25. Apart from the market-focused 'SYS6010', management also revealed two other products that are expected to reach potential licensing agreements, with a scale of over US$5 billion.

CLSA continued to be optimistic about CSPC PHARMA's development, and considered its early-stage R&D pipeline globally competitive, with a differentiated innovative drug platform. Therefore, the broker kept rating on CSPC PHARMA at High Conviction Outperform, with a target price of $13.8.
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