The Zhitong Finance App learned that J.P. Morgan Chase released a research report stating that it will maintain Hengrui Pharmaceuticals (01276)'s “increase in holdings” rating and target price of HK$65. Hengrui Pharmaceutical recently presented a number of studies at the European Society of Dermatology and Venereology (EADV) conference to provide more extensive validation of its emerging immunology product line, involving the treatment of psoriasis, prurigo nodular and alopecia areata. The bank believes that the relevant data shows that Hengrui is establishing reliable biologics and oral immunology business capabilities, rather than focusing on cancer alone.

Looking ahead, Motong expects Hengrui to have at least 4 immunology pipeline drugs approved next year, and several projects will enter phase III clinical trials. Among them, the core project SHR-1139 may launch phase III trials in China and around the world within this year. If a global phase III clinical trial is carried out, it will be the largest global phase III trial in the field of immunology by a Chinese company.

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