A Productive Drug Innovator
We expect Innovent to report robust 1H21 revenue growth supported by its strong sales force and effective commercialisation strategy for TYVYT. The three biosimilars launched in 2H20 should also contribute significant revenue in 1H21. Moreover, Innovent saw accelerated (s)NDA approvals in 1H21. As a productive drug innovator, its advanced pipeline will likely continue to yield strong clinical and commercial potentials. Maintain BUY with a target price of HK$122.80.