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<Research>G Sachs: INNOVENT BIO (01801.HK) Achieves Strong Product Sales Last Yr w/ TP $102.85, Rating Buy
Recommend 4 Positive 11 Negative 2 |
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INNOVENT BIO (01801.HK)'s 4Q25 product revenue was approx. RMB3.3 billion, in line with Goldman Sachs' expectation, according to Goldman Sachs' research report. This represents a 60% YoY increase from a relatively low base and flat QoQ, despite the negative impact of channel rebates due to the price cut in the 2026 National Reimbursement Drug List (NRDL). The full-year product sales performance in 2025 was strong, growing 45% YoY to RMB11.9 billion, surpassing the RMB10 billion milestone for the first time, with the general biopharmaceutical business being the main growth driver. Therefore, Goldman Sachs rated INNOVENT BIO at Buy, with a target price of $102.85 (previously $107.96). AASTOCKS Financial News Website: www.aastocks.com |
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