交銀國際:升聯邦制藥(3933.HK)目標價至5.9港元 維持“中性”評級
交銀國際發佈研究報告,上調聯邦制藥(03933.HK)目標價15.7%,由5.1港元調高至5.9港元,維持“中性”評級。
聯邦制藥管理層表示,正積極針對胰島素產品線進行銷售團隊擴充及學術推廣。交銀國際看好其胰島素產品增長潛力,成藥板塊將逐步代替原料藥板塊成為主要動力。
報告還指出,武漢宣佈將胰島素納入帶量採購,本次集採對胰島素下調價格較為温和,是否全國推行業還有不確定性,短期內對胰島素價格影響不大。
受到同業恢復產能影響,去年下半年6-APA市場單價持續下跌,該行預期公司去年全年6-APA的價格將略低於上半年。

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