Core Viewpoint - Bank of America Securities has raised the revenue forecasts for Innovent Biologics (01801) for 2026 and 2027 by 50% and 3% respectively, while also increasing the earnings per share estimates by 513% and 9% for the same years, and has adjusted the target price from HKD 106.9 to HKD 113, maintaining a "Buy" rating [1] Group 1 - Innovent Biologics has entered into a strategic collaboration with Takeda Pharmaceutical, involving three pipeline projects: IBI-363, IBI-343, and IBI-3001, with an upfront payment of USD 1.2 billion, including a USD 100 million equity investment from Takeda [1] - For IBI-363, both companies will co-develop the product globally and share the commercialization costs in the U.S. at a ratio of 40% for Innovent and 60% for Takeda, while Innovent retains the development rights in China and is entitled to royalties from sales outside of China and the U.S. [1] - The significant transaction underscores Innovent Biologics' research and development capabilities and asset value, marking an important step towards becoming a multinational pharmaceutical company [1]
美银证券：升信达生物目标价至113港元 与武田合作属晋身跨国药企重要一步