The Zhitong Finance App learned that Hewang Pharmaceutical (00013) rose by more than 3%. As of press release, it had risen 4.11% to HK$22.78, with a turnover of HK$397.05 million.

According to the news, Citi released a research report saying that the bank held an expert meeting with key SANOVO researchers on November 5 to further strengthen the positive view of Savolitinib's potential for EGFR mutant non-small cell lung cancer after first-line and osimertinib treatment, maintain a “buy/high risk” rating, and listed Hewong Pharmaceuticals as the new preferred stock. The target price was raised from HK$40.1 to HK$43.2.

The bank believes that based on strong SAFFRON data, the new savolitinib drug application has been submitted in the US and has been accepted in Japan and Europe, and Hewang Pharmaceutical's management expects it to be approved overseas or in the 2027 fiscal year. The bank is optimistic about commercialization prospects and believes that savolitinib can become a billion-dollar major drug, and there is still room for improvement in first-line opportunities. The bank raised its revenue forecast for the 2027/2028 fiscal year by 4% and 2%, and increased earnings per share by 15% and 5%, mainly reflecting savolitinib's potential overseas approval and epidemiological model adjustments.

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