UB#INBIORC2603D(67493.HK)

Top 5 HK Stock Gainers/Losers (>100B) (2.10)

KNOWLEDGE ATLAS(02513) rose 14.81%, with a trading turnover 1.1 Billion HKD, and a year-to-date rose 173.5%. DONGFANG ELEC(01072) rose 7.11%, with a trading turnover 810.9 Million HKD, and a year-to-date rose 23%. ZHAOJIN MINING(01818) fell 5.83%, with a trading turnover 1.7 Billion HKD, and a year-to-date rose 6.1%. GIGADEVICE(03986) fell 3.82%, with a trading turnover 252.3 Million HKD, and a year-to-date rose 86.4%.

Mainland China’s investors pour into Hong Kong-listed drug stocks

Mainland Chinese investors have increased their investments in Hong Kong-listed drug stocks, with the Hang Seng Southbound Connect Hong Kong Innovative Drug Index rising about 9% recently. CSPC Pharmaceutical Group and Sichuan Kelun-Biotech saw significant gains. Innovent Biologics announced a major collaboration with Eli Lilly worth up to $8.85 billion, enhancing its drug development process. This trend reflects a shift in how Chinese drug makers engage with global partners, as they gain more control over the development of their medicines amid a competitive pharmaceutical landscape.

CSC Financial Keeps Their Buy Rating on Innovent Biologics (IVBXF)

CSC Financial has maintained a Buy rating on Innovent Biologics (IVBXF) with a price target of HK$136.12, while the stock closed at HK$85.40. The analyst consensus is a Strong Buy with an average price target of HK$123.87, indicating a potential upside of 45.05%. Bernstein also supports this with a Buy rating and a price target of HK$115.00.

The Hang Seng Biotechnology Index rose over 4% intraday, CSPC PHARMA rose over 7%, INNOVENT BIO rose nearly 7%, WUXI BIO and SINO BIOPHARM rose over 5%

UBS: INNOVENT BIO's collaboration with Eli Lilly is expected to have upward potential for drug advancement targets

The UBS research report pointed out that INNOVENT BIO has reached a collaboration with Eli Lilly, involving a $350 million upfront payment and potential milestone payments of up to $8.5 billion. This collaboration model is for the joint development of a new company and is expected to provide INNOVENT BIO with upside potential, helping it achieve its goal of advancing 8 to 10 candidate drugs into clinical stages each year. UBS maintains a target price of HKD 137.4 for INNOVENT BIO and a "Buy" rating