Jinwu Financial News | According to the Bank of Commerce International Development Report, China Biopharmaceuticals (01177) recently established a strategic partnership with Boehringer Ingelheim (BI) to jointly develop and commercialize BI oncology pipelines in mainland China, including three assets in the clinical development stage, brigimadlin, ZongerTinib, and BI764532, as well as several innovative drug candidates in the early stages. Product revenue will be included in China Biopharmaceuticals' consolidated financial statements. The company estimates that the total peak sales of the three mid- to late-stage products in mainland China are expected to reach 5 billion yuan (before 2030).
The bank believes that this cooperation will further consolidate the company's multi-target layout in the field of solid tumors, have strong collaboration with existing products, and increase the company's revenue and profits. The bank maintains a purchase rating and a target price of HK$4.80, and is optimistic that 2024 performance will recover and the value of the innovation pipeline will continue to be realized.