智通财经网·2026-02-10 08:59Core Viewpoint - Morgan Stanley reports that Innovent Biologics (01801) has entered into a strategic partnership with Eli Lilly (LLY.US) to jointly develop novel biologics focused on oncology and immunology globally [1] Group 1: Company Overview - Innovent Biologics is reaffirmed as a top pick among Chinese biotech companies covered by Morgan Stanley, with an "Overweight" rating and a target price of HKD 111 [1] - The collaboration is seen as a positive surprise and marks a significant milestone in Innovent's journey towards becoming a global biopharmaceutical company, highlighting the strength of its R&D platform [1] Group 2: Management and Strategy - During a conference call, Innovent's management reiterated its long-term vision, primarily supported by a dual-engine growth strategy in the areas of generic biologics and oncology drugs [1] - Morgan Stanley continues to be impressed by Innovent's execution capabilities in its commercial and R&D product lines, as well as its strong business development abilities [1]