Yuanta Securities said Sino Biopharmaceutical Limited, or DR SINOBIO19, reported first-half 2026 results with revenue up 11% year on year and normalised profit up 8% year on year, beating market expectations by as much as 61% year on year. Growth was supported by innovative drugs, which rose 29%, and out-licensing income, which rose 44%; together these two segments already account for 45% of total revenue. The company also reaffirmed strategic partnerships with Sanofi, AstraZeneca and GSK, supporting long-term revenue growth. The broker sees scope for SINOBIO's valuation to be re-rated because it is relying less on generic drug revenue. Bloomberg consensus expects normalised profit in the second half of 2026 to grow 17% year on year, driven by solid sales growth and continued margin expansion. The current price trades at only 20 times 2026 earnings. The broker sets a target price of 6.90 baht per DR, implying 47% upside.
Sino Biopharmaceutical LtdBroker sets target price with 47% upside, citing strong H1 results and re-rating potential.
AstraZeneca PLC
GSK plc
Sanofi SA