Viva Biotech Wins Green Light to Expand Peptide Production at Zhejiang Subsidiary

The latest update is out from Viva Biotech Holdings ( (HK:1873) ).

Viva Biotech Holdings announced that its wholly owned subsidiary, Zhejiang Langhua Pharmaceutical, has received official approval from the Taizhou Ecological Environment Bureau for its environmental impact report covering a plan to remodel three existing plants in Linhai Park, part of the Zhejiang Province Chemical Active Pharmaceutical Ingredient Base. The approval allows Langhua Pharmaceutical to convert these facilities for the production of peptides and advanced intermediates for other small-molecule drugs, with the company committing to comply with regulatory requirements and to move toward production start-up as soon as practicable. Management expects the new production plans to enhance the Group’s business growth and expand its manufacturing capabilities and capacity, although it has explicitly refrained from making any profit forecasts and cautioned shareholders and potential investors to exercise care when trading the company’s securities.

The most recent analyst rating on (HK:1873) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Viva Biotech Holdings stock, see the HK:1873 Stock Forecast page.

More about Viva Biotech Holdings

Viva Biotech Holdings is a Hong Kong-listed pharmaceutical and biotech group that operates through subsidiaries including Zhejiang Langhua Pharmaceutical. The Group is involved in the production of active pharmaceutical ingredients and related intermediates, with a focus on peptides and advanced intermediates for small-molecule drugs, leveraging manufacturing facilities in mainland China to support its contract and proprietary drug-development activities.

Average Trading Volume: 7,694,507

Technical Sentiment Signal: Buy

Current Market Cap: HK$5.29B

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