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) | — | 6.58 | 10.33 |
Price/Book Value | 5.26 | 0.77 | 1.43 |
Price/Sales | 9.03 | 0.10 | 3.22 |
Price/Cash Flow | — | 3.19 | 10.26 |
|
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) | −2.13% | 4.43% | 8.30% |
Return on Equity (Normalized) | −3.97% | 24.34% | 12.37% |
Return on Invested Capital (Normalized) | −4.85% | 9.74% | 9.73% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
NVO
| Novo Nordisk A/S ADR | Gnsjbgpkw | Jztmn | $566.6 Bil | |
VRTX
| Vertex Pharmaceuticals Inc | Nmtcrpk | Ypwgyh | $102.4 Bil | |
REGN
| Regeneron Pharmaceuticals Inc | Cjvhllfht | Bbyvks | $98.3 Bil | |
MRNA
| Moderna Inc | Tcktlxrsp | Rkhlp | $42.7 Bil | |
ARGX
| argenx SE ADR | Yfqftfssd | Xgyh | $22.2 Bil | |
BNTX
| BioNTech SE ADR | Zstfghh | Vtnd | $21.2 Bil | |
ALNY
| Alnylam Pharmaceuticals Inc | Fkggqdhf | Lzlnbxy | $18.6 Bil | |
BMRN
| Biomarin Pharmaceutical Inc | Lwrzkfttw | Qsxkcb | $15.6 Bil | |
RPRX
| Royalty Pharma PLC Class A | Zxdysfvfkx | Dfbrf | $12.7 Bil | |
INCY
| Incyte Corp | Jcsmvyyhc | Dtfzpsm | $11.8 Bil |
