[ET Net News Agency, 4 September 2019] Goldman Sachs raised its target price for
Innovent Biologics (01801) to HK$31.2 from HK$30.1 and maintained its "buy" rating.
Management noted the strong sintilimab sales momentum in the first four months since
launch continued in July/August, despite the new entry of camrelizumab. The company plans
to double the commercial team to 800 (versus 500 by August) and targets to cover 300
cities, 1,500 hospitals and 400 DTP (direct-to-patient) pharmacies by 2019 and further
penetrate into lower-tier cities/hospitals.
For the upcoming NRDL (national reimbursement drug list) negotiation, the company is
actively engaging in the process (negotiation in October), and Goldman sees the NRDL
listing as likely given the limited impact to the fund with a small indication (cHL) and
clear clinical benefits. (KL)
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01801 INNOVENT BIO
Nominal 
33.200 -0.500 (-1.484%) Others
04/09/2019 17:43
{I-bank focus}Goldman raises Innovent Bio (01801) to HK$31.2
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