0747 GMT - CSPC Pharmaceutical looks set to benefit from an exclusive licensing agreement with AstraZeneca to develop and commercialize a pre-clinical lipid-lowering drug compound, Nomura research analyst Jialin Zhang writes in a note. As part of the agreement, the pharmaceutical group will receive an upfront payment of US$100 million, the analyst notes. "Although it is too early to comment about the future of this compound, we are positive on the impact on CSPC from this deal," Zhang says. The upfront payment should let CSPC continue investing heavily on research and development, the analyst adds. Nomura maintains the stock's buy rating and target price of HK$9.29. Shares are last at HK$7.04.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
October 08, 2024 03:47 ET (07:47 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。