Bank of America Securities: INNOVENT BIO (01801) February sales increased by 32% year-on-year, rated "buy"
Xinda Biological's total sales of sample drugs in February increased by 32% year-on-year to 487.3 million yuan.
Bank of America Securities released a research report stating that it maintains a "buy" rating on INNOVENT BIO (01801) with a target price of HK$116.8. INNOVENT BIO's total sales of sample drugs in February increased by 32% year-on-year to 487.3 million RMB. Among them, the sales of bevacizumab increased by 31.7% year-on-year to 150.5 million RMB, while the sales of sintlimab slightly decreased by 2.7% year-on-year to 181.4 million RMB.
In terms of other products, the sales of rituximab and tafolecimab were 57.8 million and 50.2 million RMB respectively, with year-on-year growth of 12.3% and 1766.9%, respectively. The monthly sales of Mazdutide were 8.2 million RMB, with a month-on-month growth of 5.1%, making it one of the few products that maintained sales during the holiday period.
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