Zaiding Pharmaceutical-SB (9688.HK) partner Argenx recently announced that the US Food and Drug Administration (FDA) has approved VYVGART (efgartigimod alfa-fcab) for the treatment of systemic myasthenia gravis in adult patients. Goldman Sachs published a research report that slightly raised the target price of Zaiding Pharmaceutical from HK$1,474.25 to HK$1,482.57, maintaining the “buy” rating.
Goldman Sachs pointed out that efgartigimod has now been approved, proving the ability of Zaiding Pharmaceutical to launch other than oncology drugs. Furthermore, Zaiding Pharmaceutical has exclusive commercialization rights for this drug in Greater China. It is expected that the drug can be launched in China in 2023, with sales reaching a peak of 330 million US dollars by 2030.