Core Viewpoint - Citibank reports that Innovent Biologics (01801) has entered into a global strategic collaboration with Takeda Pharmaceutical to jointly develop the next-generation IO cornerstone therapy IBI363, along with licensing agreements for IBI343 and IBI3001 [1] Financial Impact - Following this collaboration, Citibank has raised its sales and net profit forecasts for Innovent Biologics for the fiscal year 2026 by 48.5% and 172% respectively, and the net profit forecast for 2027 has been increased by 1.5% [1] - The target price for Innovent Biologics has been adjusted from HKD 111.4 to HKD 120.1, while maintaining an "Outperform" rating [1] Strategic Significance - The collaboration is viewed positively for Innovent's global expansion and product development, particularly in advancing the core project IBI363 [1] - IBI363 received FDA approval in August this year to initiate a Phase III clinical trial for the treatment of squamous non-small cell lung cancer [1] - The plan for joint commercialization of IBI363 in the U.S. is expected to unlock market value, with Takeda's strong U.S. commercial rights and extensive experience in the market being advantageous [1]
里昂：信达生物(01801)与武田制药合作对推进产品研发正面 目标价升至120.1港元