[ET Net News Agency, 25 September 2019] UOB Kay Hian raised its target price for CSPC
Pharmaceutical (01093) to HK$18.8 to reflect its brighter visibility of earnings growth in
2010-21. The research house maintained its "buy" rating.
As expected, CSPC won the tender for Clopidogrel in the 25-province GPO (group
purchasing organization), said UOBKH. Winning the Clopidogrel tender is positive for CSPC,
as it will add a new revenue stream (received drug approval in June 2019). The 25-province
GPO serves as a shortcut to instantly expand sales.
With it offering the lowest price versus peers (23% discount to the 11-city GPO price),
CSPC will likely obtain a considerably large market share from previous market leaders, ie
Sanofi and Xinlitai. UOBKH estimated Clopidogrel will generate revenue of about
Rmb300m-400m for the company in 2020. (KL)
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01093 CSPC PHARMA
Nominal 
6.520 +0.300 (+4.823%) Research Report
25/09/2019 16:39
{I-bank focus}UOBKH raises CSPC Pharma (01093) to HK$18.8
| Remark: | Real time quote last updated: 25/04/2024 17:19 |
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