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HSBC Research: 2026 to Be Harvest Yr for CN Innovative Drug Out-Licensing; Buy Kept on HANSOH PHARMA, SKB BIO, INNOVENT BIO, AKESO and KEYMED BIO-B
2026-09-25 16:27:21
Despite mounting US interest rates, China's biopharmaceutical sector remained resilient in late September across the Hong Kong and mainland China markets, supported by policy measures and prospects for out-licensing, HSBC Global Investment Research said in a report.

2026 will be a harvest year for China's innovative drug out-licensing, the broker opined. In 8M26, the value of China's out-licensing deals whopped USD125 billion, accounting for about 62% of global deal value. The broker foresaw China's innovative drugs are appealing to global major pharmaceutical companies facing patent cliff pressure from 2026 to 2035, thanks to advantages in R&D costs, competitive landscape and clinical efficacy.

The broker upheld Buy ratings on HANSOH PHARMA (03692.HK), SKB BIO (06990.HK), INNOVENT BIO (01801.HK), AKESO (09926.HK) and KEYMED BIO-B (02162.HK), with target prices of HKD49.5, HKD584, HKD130, HKD163 and HKD107, respectively.
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