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Simcere Pharmaceutical's Strong Product Pipeline May Spur Growth -- Market Talk

2021-04-19 13:01

DJ Simcere Pharmaceutical's Strong Product Pipeline May Spur Growth -- Market Talk

0501 GMT - Simcere Pharmaceutical appears to have significant earnings growth potential thanks to its strong product pipeline, Nomura says, as it initiates coverage on the stock with a buy rating and a HK$10.10 price target. Nomura expects Simcere to post a revenue CAGR of 20.4% over 2021-2023, driven by higher contributions from core businesses such as oncology, central-nervous-system and autoimmune segments. However, Simcere's selling expenses will likely increase in 2021-2023 with launches of innovative drugs, Nomura adds. Shares fall 2.0% to HK$8.18. (justina.lee@wsj.com)

(END) Dow Jones Newswires

April 19, 2021 01:01 ET (05:01 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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