Deutsche Bank Raises Hansoh Pharmaceutical (03692.HK) Target Price to HK$24.7, Bullish on Innovative Drug Portfolio

According to Zhitong Finance APP, Deutsche Bank issued a research report stating that Hansoh Pharma (03692) exceeded profit expectations for the fiscal year 2024, with revenue in line with expectations and improved gross margin. The bank maintained a "Buy" rating and raised the target price from HK$22 to HK$24.7. The bank noted that the company has successfully transformed into an innovation-driven pharmaceutical company, demonstrating its R&D capabilities by continuously out-licensing its pipeline assets to leading global pharmaceutical companies. The existing product portfolio should support the company's growth over the next two years before the launch of the next wave of innovative assets.