Guojin Securities: The long-term value of AD products has been further validated by MNC, maintaining a "buy" rating on Connoah-B (02162.HK)

Wisdom Financial APP learned that Guojin Securities released a research report stating that on June 22, 2026, AbbVie announced its intention to acquire Apogee for approximately $10.9 billion. The core product of Apogee is the long-acting IL-13 monoclonal antibody APG777, and the transaction is expected to be completed in Q3 2026. KannoYa's drug CM512 in the same track is expected to support dosing intervals of 3-6 months and is currently conducting Phase II trials for multiple indications such as AD and COPD. The company is forecasted to have revenues of 2.871 billion, 2.064 billion, and 2.994 billion yuan respectively from 2026 to 2028, with year-on-year growth rates of +300.8%, -28.1%, and +45.0%; net profits are projected to be 1.098 billion, -0.501 billion, and 0.344 billion yuan respectively, corresponding to EPS of 3.67, -1.68, and 1.15 yuan. The "buy" rating is maintained.