CGS-CIMB Research retains Add for Duopharma, TP RM3.67

Duopharma received conditional registration approval from Malaysia’s Drug Control Authority (DCA) for the Covid-19 Sinopharm vaccine developed by China National Biotec Group Co Ltd.

KUALA LUMPUR: CGS-CIMB Equities Research is retaining its Add call for Duopharma Biotech with an unchanged target price of RM3.67 due to the potential long-term earnings prospects from the development of vaccine manufacturing capabilities, which is a key rerating catalyst.

It said on Monday it was keeping its forecasts intact for now pending the details or further developments in the supply agreement for the Sinopharm vaccine, which it thinks could be signed by end of the month.