BOCI International: Raised target price of China Biologics (01177.HK) to 7.7 Hong Kong dollars, reiterates "buy" rating.

According to the Securities Times APP, CCB International released a research report stating that China Biologic Products (01177.HK) announced a net acquisition of nearly 95.09% of Lianxin Pharmaceutical for over 500 million US dollars. After the transaction is completed, Lianxin, which has 8 clinical stage candidate drugs, will become its indirectly wholly-owned subsidiary. CCB International reiterated its "buy" rating and raised the target price from 4.5 Hong Kong dollars to 7.7 Hong Kong dollars.