KUALA LUMPUR: RHB Research has upgraded Duopharma Biotech to Buy from Sell with a new discounted cashflow-derived target price of RM4 from RM3.30 on the clarity of its Covid-19 vaccine participation in Malaysia. The research house said on Thursday Duopharma’s prospects of participation in the vaccine had increased significantly after the government’s announcement on Tuesday. It also pointed out the company’s human insulin contract has also been extended. RHB Research noted a news report Science, Technology and Innovation Minister Khairy Jamaluddin as saying: “the next could be Duopharma as the company is in talks with a Russian vaccine candidate”.