Bank of America Securities: Raised SINO BIOPHARM (01177) target to HK$5.9, reiterating "buy" rating.

Bank of America Securities released a research report stating that SINO BIOPHARM (01177) recently announced that a licensed transaction is ready to be implemented, and the company expects the sales proportion of innovative drugs to increase to over 50% this year and reach 60% by 2027. The growth momentum is driven by the company's "internal research and development + external licensing" dual-engine strategy. In addition, the company recently received approval from the National Medical Products Administration for its phase III clinical trial of TQC3721 for the treatment of chronic obstructive pulmonary disease (COPD). The bank has included TQC3721 revenue forecasts in its considerations and raised China Biologic Product's 2027 total revenue forecast by 1%; the target price has been raised from HK$5.1 to HK$5.9, and the "buy" rating has been reiterated due to the company's smooth progress in its product pipeline.