Changes in Hong Kong stocks | China Biopharmaceuticals (01177) rose more than 6%. The company reiterated its annual revenue guidelines and newly approved innovative drugs will be the main driving force for continued sales volume

The Zhitong Finance App learned that China Biopharmaceuticals (01177) rose more than 6%. As of press release, it had risen 6.58% to HK$5.83, with a turnover of HK$192 million.

According to the news, Daiwa released a research report saying that at a recent medical and health industry exchange event, Chinese biopharmaceutical management reiterated that the guidelines for recording a double-digit year-on-year increase in revenue this year have not changed. It is expected to be driven by both authorized revenue and growth in innovative drug sales, and that innovative drug sales plus authorized revenue will contribute half of the annual revenue. Management also revealed that newly approved innovative drugs will be the main driving force for continued sales volume. It is also expected that after bottoming out this year, the generic drug business may resume growth next year under a lower base.

According to the bank, China Biopharmaceutical's licensing revenue for the full year of this year is expected to be US$355 million. In addition to Sanofi's confirmed down payment of US$135 million, it is expected that AstraZeneca's down payment of US$200 million for TQC3721 (PDE3/4) and Cipla's down payment of US$20 million for TQB2102 will be confirmed in the second half of the year, totaling US$220 million.