野村:首予信達生物(1801.HK)“買入”評級 目標價50.3港元
野村發表研究報告指,信達生物(1801.HK)旗下創新抗腫瘤新藥信迪利單抗注射液(Sintilimab)料在2020-2022財年的銷售增加,又預期旗下3款生物仿製藥將通過中國國家藥品監督管理局審批。野村首予其“買入”投資評級,目標價50.3港元。
野村表示,在進一步的市場滲透的下,預期信達生物2020-2022財年的銷售能分別達22億、46億及55億元人民幣。該行又指,當中3種生物仿製藥,包括利妥昔單抗、阿達木單抗及貝伐單抗能在2020-2022財年分別錄得4.4億、19.15億及30.16億元人民幣銷售,而貝伐單抗能在2020-2028財年錄得最高銷售額,主要由於貝伐單抗的使用病人較廣。
野村估計,信達生物2020-2022財年的複合年收入為81%,並在2022財年達87.05億元人民幣,而2019-2021財年錄得淨虧損後,相信2022財年能扭虧為盈,並錄得10.11億元人民幣純利。

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