Cross Asset Research 10 June 2025 European Pharmaceuticals & Life Sciences On the Road in China: Accelerating Biopharma Innovation and Business Development Opportunities China's biopharma sector is regaining momentum, driven by rising innovation & renewed deal activity with MNC partners. We report key takeaways from our field trip, highlighting both near-term BD opportunities and long-term strategic relevance of the region; we see OW-rated AZN and SAN as LT winners. Listen Our recent two-week visit to China ...

机构：招银国际 研究员：Jill WU/Andy WANG Business sequentially recovered in 1Q. CSPC reported total revenue of RMB7.0bn in 1Q25, including RMB718mn from out-licensing (BD) income. Excluding the impact from BD, core revenue reached RMB6.3bn (+1% QoQ), representing 22% of our previous FY25 estimates. Excluding the BD impact, core net profit reached RMB868mn (+58% QoQ), accounting for 27% of our FY25 estimates. Sales of finished drugs (excluding BD income) declined 5% QoQ and decreased 37% YoY, mainly due to a 21% QoQ de ...

Corteva (CTVA) Q1 2025 Earnings Call May 08, 2025 09:00 AM ET Company Participants Kimberly Booth - VP - Investor RelationsChuck Magro - Chief Executive OfficerDavid Johnson - Executive VP & CFOJoel Jackson - Managing DirectorChristopher Parkinson - Managing DirectorJudd O’Connor - EVP - Seed Business UnitVincent Andrews - Managing DirectorRobert King - Executive Vice President of Crop Protection Business UnitKevin McCarthy - PartnerJosh Spector - Executive DirectorEmily Fusco - Equity Research Associate Co ...

Corteva (CTVA) Q1 2025 Earnings Call May 08, 2025 09:00 AM ET Speaker0 Good morning. My name is Audra, and I will be your conference operator today. At this time, I would like to welcome everyone to the Cartiva Agriscience First Quarter twenty twenty five Earnings. Today's conference is being recorded. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. At this time, I would like to turn the conference over to Kim Boot ...