CITIC Lyon raised Fosun Pharma (02196.HK) H-share target price 1.9% to HK$27.1,
and lifted its A-share PT, while maintaining an Outperform rating. The broker
said Q3 results were broadly in line, with margin improvement driven by stronger
sales of innovative products. Near-term catalyst: a global Phase III readout for
AR1001 in Alzheimer’s. Continued commercialization progress for serplulimab in
China and regulatory developments in the U.S. and Japan provide additional
growth optionality.
