再鼎醫藥-SB(09688.HK):授權與自研結合的特色生物製藥公司
機構:興業證券
投資要點
創新型腫瘤、抗感染、及自體免疫領域的生物製藥公司:再鼎醫藥是一間創新型、立足研發及處於商業階段的生物製藥公司,專注於腫瘤、抗感染及自體免疫性疾病領域的發現、授權、開發及商業化差異化創新療法,是中國最早進行規模擴張的生物製藥公司之一。自 2013 年,由杜瑩博士創立以來,公司通過全球合作引入授權多款有前途的生物醫藥產品以及投資內部研發,以實踐戰略方針。2017 年在美國完成首次公開發售並於納斯達克上市,3 年來累計融資超過 8 億美元。
廣泛且高度差異化的產品管線:公司已經建立了廣泛及高度差異化的創新產品組合,即 16 種具有潛在全球同類最佳/同類首創潛力的產品及候選藥物,以針對中國乃至全球患者對腫瘤、自體免疫性疾病及抗感染領域尚未滿足的巨大醫療需求。公司擁有兩種具有重大市場機遇並處於商業化階段的產品,以及七項處於關鍵或潛在註冊用試驗中的資產,其中兩項的 NDA已成功向中國國家藥監局遞交,兩項已獲美國 FDA 批准。
全球一流的領導團隊及深厚的人才儲備:公司創始人杜博士是中國生物製藥行業的領軍人物,在他的領導下,公司組建了一個由各自領域學術領軍人物組成的科學顧問委員會,增強了發現潛在全球同類最佳/同類首創療法的能力,也為平台吸引來更多高端人才,從而形成一個良性循環。
風險提示:新產品研發失敗風險,市場競爭加劇,控費力度超預期等。
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