《大行報告》麥格理首予信達生物(01801.HK)「跑贏大市」評級目標價34.19元
麥格理發表的報告指,信達生物(01801.HK)創辦人在中美生物科技企業有逾20年經驗,並擁有逾60項專利,他亦開發了全球首隻以病毒為基礎的腫瘤免疫治療產品安柯瑞(Oncorine),並共同開發了中國首隻創新型全人源抗體類治療藥物康柏西普(Conbercept),而在去年12月達伯舒亦獲批,由新藥臨床試驗轉到新藥上市申請僅用了851日。而公司另一優勢是擁有三款生物類似藥在後期開發階段,全部均在等待審批,該行認為相關策略有助分散風險。
該行指出達伯舒為PD-1藥物,並於今年3月推出,該行預期銷售將在2023年見頂並達到40億元人民幣的水平,而海外銷售則料會在2027年見頂,料將達20億元人民幣水平。該行認為公司作為第二家本地藥企獲批推PD-1藥物,達伯舒亦可得到先發優勢,而與美國製藥公司禮來(EliLilly)合作亦有助推廣達伯舒。
而Humira及Avastin生物類似藥均處於生物製品許可申請階段,兩種藥物的原裝品牌2018年銷售分別達190億及30億美元,該行估計兩項生物類似藥可在2020年推出,到2024年合計銷售將達60億元人民幣。該行估算公司2020年收入將為47億元人民幣,而2023年收入則可升至159億元人民幣,盈利則達13億元人民幣,首予公司「跑贏大市」評級,目標價34.19元。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.