Innovent is a leading biotech company in China with strong roots in oncology, anchored by its core PD-1 drug Tyvyt. The price cut for PD-1 drugs has stabilized gradually. Hence, we expect stable revenue growth from Tyvyt in the next three years as Tyvyt has more indications approved.
Price cuts for PD-1 end up leading to higher prices, lifting Innovent’s gross margin.
Mazdutide approval turns out to be later than expected, which will dampen our base case revenue forecast from 2026 onwards.
|
Metric
|
01801
|
01099
|
02269
|
|---|---|---|---|
Price/Earnings (Normalized) | — | 7.15 | 15.24 |
Price/Book Value | 5.30 | 0.83 | 1.44 |
Price/Sales | 9.10 | 0.10 | 3.24 |
Price/Cash Flow | — | 3.47 | 10.33 |
|
Metric
|
01801
|
01099
|
02269
|
|---|---|---|---|
Quick Ratio | 2.59 | 1.05 | 2.35 |
Current Ratio | 3.00 | 1.39 | 2.78 |
Interest Coverage | −15.20 | 7.35 | 25.95 |
|
Metric
|
01801
|
01099
|
02269
|
|---|---|---|---|
Return on Assets (Normalized) | −2.75% | 4.43% | 8.91% |
Return on Equity (Normalized) | −5.12% | 24.34% | 13.28% |
Return on Invested Capital (Normalized) | −5.63% | 9.74% | 10.45% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
NVO
| Novo Nordisk A/S ADR | Byzfzdmv | Ckpb | $586.1 Bil | |
VRTX
| Vertex Pharmaceuticals Inc | Jnvljltcw | Ywfks | $113.7 Bil | |
REGN
| Regeneron Pharmaceuticals Inc | Ndzmzxbz | Hvzhxn | $108.2 Bil | |
MRNA
| Moderna Inc | Ppblrwl | Hglh | $50.9 Bil | |
ARGX
| argenx SE ADR | Gstyyxhlw | Wxjts | $22.0 Bil | |
BNTX
| BioNTech SE ADR | Vbgwwtrn | Jgnm | $21.8 Bil | |
ALNY
| Alnylam Pharmaceuticals Inc | Vghzjtfw | Xllsh | $18.9 Bil | |
BMRN
| Biomarin Pharmaceutical Inc | Lwncmxpmb | Wqcrsg | $14.6 Bil | |
INCY
| Incyte Corp | Cszhzxv | Jczhwd | $12.8 Bil | |
RPRX
| Royalty Pharma PLC Class A | Yqbbxwgvhs | Kjhhnz | $12.3 Bil |
