Stock Idea With its focus on oncology, China’s largest pha | FSMOne SG - Research Highlights

Stock Idea

With its focus on oncology, China’s largest pharma company is set for further growth

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• Jiangsu Hengrui Medicine is China’s largest listed pharmaceutical company, and a notable name in the Chinese oncology market.

• As part of its “Made in China 2025” industrial plan, the Chinese government is determined to build a strong and competitive domestic healthcare industry, focusing on innovation and home-grown R&D.

• China is faced with a cancer crisis as roughly 50% of the global gastric cancer, liver cancer, and esophageal cancer burden is diagnosed from patients in China.

• Moving forward, Jiangsu Hengrui's sales growth is likely to be robust, fuelled by the strong uptake and pipeline of oncology drugs.

• Our 2023 target price for Jiangsu Hengrui Medicine is CNY 68, and this translates to an upside potential of 33%.

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: Jiangsu Hengrui Medicine (SHA:600276)