The analyst rating for the three Chinese pharma companies—SINO BIOPHARM, HANSOH PHARMA, and CMS—was based on their solid results for the first half of 2025, which included double-digit revenue growth. The research report by CLSA highlighted that this positive momentum is expected to continue into the second half of 2025 due to several favorable factors: the launch of more innovative drugs, increased sales of new products, a more favorable environment for Chinese healthcare insurance spending, and potential business development revenue. As a result, CLSA reiterated an Outperform rating for all three companies, with target prices adjusted accordingly.
