In a report, Nomura Securities analyst Zhang Jialin stated that despite intensifying market competition, Innovent Biologics (01801.HK) should be able to hold its ground in the GLP-1 weight-loss drug sector. He noted that pharmaceutical giants Eli Lilly and Novo Nordisk have both lowered the prices of their GLP-1 products in the Chinese market. However, Zhang Jialin remains confident in Innovent Biologics’ execution capabilities, pointing out that its GLP-1 therapy, masdupetide, enables the company to stand out thanks to its higher pricing point and differentiated mechanism of action. Zhang Jialin expects Innovent Biologics to benefit from the first-mover advantage of scaled sales, which will support its growth in 2026 and beyond. Nomura Securities maintains a “Buy” rating on the stock with a target price of HK$105.80; the stock closed at HK$84.50 in the previous trading session.