"Big Banks" JP Morgan: The strategic cooperation between INNOVENT BIO and Eli Lilly is a positive surprise, target price 111 yuan

AASTOCKS
2026.02.10 02:27

JP Morgan published a research report stating that INNOVENT BIO (01801.HK) has reached a strategic cooperation with Eli Lilly (LLY.US) to jointly develop new biological agents focused on oncology and immunology globally. The bank believes this cooperation is a positive surprise, marking another important milestone in INNOVENT BIO's journey towards becoming a global biopharmaceutical company, and highlighting the strength of its R&D platform.

During a conference call, INNOVENT BIO's management reiterated its long-term vision, primarily benefiting from a dual-engine growth strategy in the areas of generic biopharmaceuticals and oncology drugs. The bank continues to be impressed by INNOVENT BIO's execution capabilities in its commercial and R&D product lines, as well as its strong business development capabilities. The bank reiterated that INNOVENT BIO is one of its preferred targets among the Chinese biotech companies it covers, maintaining an "Overweight" rating with a target price of 111 yuan

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