Morningstar

Innovent Biologics Inc 01801

Morningstar Rating
Unlock
Stock XHKG Rating as of
HK$97.30 +2.45 (2.58%)
View Full Chart
As of Delayed Price Closed

Company Report

View Archive

Robust GLP-1 and Oncology Pipeline Highlight Innovent's Positive Outlook

Kai Wang

Innovent is a leading biotech company in China with strong roots in oncology, and has anchored its core PD-1 drug Tyvyt. However, its recently approved dual agonist GLP-1 drug in 2025 will be its long-term valuation driver, given that the PD-1 in China is now mature. We expect mazdutide, Innovent's GLP-1, to account for 25% of total revenue in 2027 from less than 5% in 2025. Mazdutide's advantage comes from its license agreements with Eli Lilly and first-mover advantage in China's GLP-1 market, which we estimate to have less than 1% penetration in 2025.

Read Full Report

Price vs Fair Value

View History
01801 is trading at a LOCK|%D$^jWh premium.
Price
HK$94.85
Fair Value
$<D
Uncertainty
LOCK|>r y$q?
1-Star Price
LOCK|p<
5-Star Price
#<
Economic Moat
LOCK|@LCb
Capital Allocation
LOCK|Tkj%hR^<

Bulls Say, Bears Say

Bulls

The GLP-1 market remains underpenetrated at less than 1% in China as of 2025, giving Innovent an advantage in the dual-agonist industry.

Bears

Mazdutide competition becomes greater than expected, leading to price wars.

Show More

News

View All

Trading Information

Previous Close Price
HK$94.85
Day Range
HK$95.15–98.50
52-Week Range
HK$69.55–109.10
Bid/Ask
HK$97.30 / HK$97.35
Shares Outstanding
1.74B
Market Cap
HK$169.39B
Volume/Avg
19M / 15M

Key Statistics

Price/Earnings (Normalized)
125.27
Price/Sales
11.61
Dividend Yield (Trailing)
0.00%
Dividend Yield (Forward)
0.00%
Total Yield
—

Company Profile

Innovent Biologics is one of the leading biotechnology companies in China. Listed on the Hong Kong stock exchange in 2018, Innovent has 12 commercialized oncology products and four commercialized nononcology products as of January 2026, and 34 drugs in its research and development pipeline. Its core assets are Tyvyt, a PD-1 inhibitor included in the National Reimbursement Drug Lists (NRDL) for the first-line treatment of five major cancers, and mazdutide, a GLP-1/glucagon dual agonist drug for weight loss, fat breakdown, and Type 2 diabetes. Mazdutide is the first domestic GLP-1 drug produced and competes with Eli Lilly and Novo Nordisk in China. Tyvyt’s main competition includes drugs from Junshi, Jiangsu Hengrui, BeOne, Merck, and Bristol Myers.
Sector
Healthcare
Industry
Biotechnology
Stock Style Box
Large Growth
Total Number of Employees
7,502
Website
https://www.innoventbio.com

Competitors

Valuation

View More
Metric
01801
NVO
MRK
Price/Earnings (Normalized)
 125.2711.7240.06
Price/Book Value
 8.456.197.57
Price/Sales
 11.614.084.79
Price/Cash Flow
 77.229.7814.40
Price/Earnings
01801
NVO
MRK

Financial Strength

Metric
01801
NVO
MRK
Quick Ratio
 2.470.640.71
Current Ratio
 2.620.871.32
Interest Coverage
 6.03—4.28
Quick Ratio
01801
NVO
MRK

Profitability

Metric
01801
NVO
MRK
Return on Assets (Normalized)
 6.26%21.31%6.27%
Return on Equity (Normalized)
 12.38%59.99%16.68%
Return on Invested Capital (Normalized)
 7.38%34.79%9.82%
Return on Assets
01801
NVO
MRK

Biotechnology Industry Comparables

Screen With Investor
1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
Vertex Pharmaceuticals Inc
VRTX
LOCK|HNC$vk%LOCK|Cg@&P$126B
 Regeneron Pharmaceuticals Inc
REGN
LOCK|&&kn^w^LOCK|WLF^l$81B
 argenx SE ADR
ARGX
LOCK|>!y?^WLOCK|Lb$55B
 Royalty Pharma PLC Class A
RPRX
LOCK|r@t?$M$@LOCK|?j&V$50B
 BeOne Medicines Ltd ADR
ONC
LOCK|f%FYy$YLOCK|%!$41B
 Alnylam Pharmaceuticals Inc
ALNY
LOCK|#J?v&%KLOCK|>Rv#R$29B
 Incyte Corp
INCY
LOCK|k^>B#HLLOCK|p>$24B
 Moderna Inc
MRNA
LOCK|VSJrdB$LOCK|qbT$24B
 BioNTech SE ADR
BNTX
LOCK|WNrL>#LOCK|@fR$24B
 Jazz Pharmaceuticals PLC
JAZZ
LOCK|q!Dh@<!LOCK|pQk$17B

Sponsor Center