Citigroup: Initiates a "buy" rating on HANSOH PHARMA (03692) with a target price of 28.5 Hong Kong dollars.

Citi released a research report stating that they have initiated a 90-day catalyst observation period for HANSOH PHARMA (03692). The bank pointed out that due to the strong growth in sales of innovative drugs, the company is expected to have robust performance in the second half of the year. The target price is HK$28.5 with a rating of "buy". The bank noted that due to the government's continued support for innovative drugs and the sales rebound brought by the anti-corruption campaign in the medical field, HANSOH PHARMA's performance in the second half of the year is expected to have high visibility. Catalysts include the launch of HS-20094 (GLP-1/GIP) Ph3 study in the second half of the year; data update on HS-20093 (B7-H3ADC) in the second half of the year; and the launch of more clinical stage ADC candidate drugs in the second half of the year.