According to a research report published by Morgan Stanley, the management of Pharmaceutical Federation has reiterated its goal of increasing annual revenue by 40% at a fixed exchange rate. Pharmacology Alliance disclosed that it has reached a licensing agreement with Ona Therapeutics for its WuxiteCAN-2 Payload-Linker platform to develop ADC drugs targeting undisclosed targets. The bank anticipates that the transaction will further increase the backlog of Pharmaceutical and Ming Union's milestone orders. As of the first half of this year, the total backlog of orders, independent backlog orders, and service backlog orders after deducting milestones reached 2.2 billion, 2.1 billion and 2 billion US dollars respectively, up 62.2%, 57.9% and 50.4%, respectively. The bank believes that the US Food and Drug Administration's on-site inspection of the Wuxi base is expected to be carried out as soon as January or February next year. If successfully passed, it will be the key to establishing regulatory records and seeking more commercial orders from multinational pharmaceutical companies. The bank maintains the company's “increase in holdings” rating and a target price of HK$85.

According to a research report published by Morgan Stanley, the management of Pharmaceutical Federation has reiterated its goal of increasing annual revenue by 40% at a fixed exchange rate. Pharmacology Alliance disclosed that it has reached a licensing agreement with Ona Therapeutics for its WuxiteCAN-2 Payload-Linker platform to develop ADC drugs targeting undisclosed targets. The bank anticipates that the transaction will further increase the backlog of Pharmaceutical and Ming Union's milestone orders. As of the first half of this year, the total backlog of orders, independent backlog orders, and service backlog orders after deducting milestones reached 2.2 billion, 2.1 billion and 2 billion US dollars respectively, up 62.2%, 57.9% and 50.4%, respectively. The bank believes that the US Food and Drug Administration's on-site inspection of the Wuxi base is expected to be carried out as soon as January or February next year. If successfully passed, it will be the key to establishing regulatory records and seeking more commercial orders from multinational pharmaceutical companies. The bank maintains the company's “increase in holdings” rating and a target price of HK$85.