0700 GMT - CSPC Pharmaceutical's out-licensing revenue is likely to be a sizeable revenue source for the company in 2025 and going forward, Nomura's Jialin Zhang says in a research report, as the brokerage raises the stock's target price to HK$6.55 from HK$6.48 with an unchanged buy rating. At its 2024 earnings call, management reiterated "positive sales growth" for 2025 due to potentially CNY1.5 billion in additional sales from newly-launched drugs and collaboration revenue, the analyst notes. Management is confident of maintaining the current out-licensing pace in coming years owing to the company's broad early-stage innovative drug portfolio. For central nervous system drugs, management expects positive growth for its 'NBP' products and around CNY1 billion of sales from its Mingfule drug, the analyst adds. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 31, 2025 03:00 ET (07:00 GMT)
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