Morgan Stanley: Shanghai Pharmaceuticals Holding (02607) meets expectations for the first quarter performance, giving Shanghai Pharmaceuticals Holding (601607.SH) a rating of "synchronize with the market" for A shares.

Morgan Stanley released a research report stating that Shanghai Pharmaceuticals Holding (02607) reported first quarter revenue of 75.3 billion yuan, a year-on-year increase of 6.4%, with a net profit of 1.418 billion yuan, a year-on-year increase of 6.4%, both meeting the bank's expectations. Morgan Stanley mentioned that Shanghai Pharmaceuticals Holding is currently in discussions with multinational companies in the US and EU about potential business development opportunities for its research pipeline. The bank gave Shanghai Pharmaceuticals Holding (601607.SH) a rating of "synchronized with the market" for A shares, with a target price of 18.8 yuan.