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DJ Innovent Biologics Launch Pipeline Shows Promise -- Market Talk

· 02/04/2021 22:38

0338 GMT - Innovent Biologics' robust pipeline of new clinical drugs shows strong commercial potential, UOB Kay Hian says, initiating coverage on the stock with a buy rating and a target price of HK$122.80. Innovent is a market leader in China's biotechnology sector and owns the most biomedical products among domestic peers. The company is actively exploring new opportunities in research and development by entering strategic collaborations with global partners such as Eli Lilly. These collaboration efforts should ensure Innovent stays ahead in the competition in the long term, UOB KH adds. Shares rise 1.8% to HK$95.45. (yiwei.wong@wsj.com)

(END) Dow Jones Newswires

February 04, 2021 22:38 ET (03:38 GMT)

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