iX Biopharma remains a “buy” for PhillipCapital analyst Tay Wee Kuang, with an unchanged target price of 44.5 cents, as the specialty pharmaceutical company announced that it has entered into a strategic cooperation agreement to expand its presence in China.

The agreement was signed with China Resources Pharmaceutical Commercial Group Co (CRPCG), a subsidiary of Hong Kong-listed China Resources Pharmaceutical Group on April 6.

Under the agreement, CRPCG and iX Biopharma will work together to commercialise iX Biopharma’s entire specialty pharmaceutical and nutraceutical portfolio in China.

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