《大行報告》里昂:內地醫藥監管環境不斷改善 首選石藥及藥明康德等
里昂近日發表中國醫藥健康行業報告,認為今年是中國醫療保健的關鍵一年,行業基本面改善,包括患者就診量快速恢復、醫療保險覆蓋範圍擴大和人口老齡化。 與此同時,該行相信不斷改善的監管環境,應該能夠將國內創新趨勢推向新的水平。
該行指﹐基於強勁的行業基本面和不高的估值,對中國醫療保健行業的增長前景保持樂觀。
里昂認為,擴大醫保統籌賬戶是提升醫保支付能力的最大政策刺激。老年人和中年人口的增加將推動醫療保健支出。CRO行業最近的調整,主要反映2023年上半年項目新增速度較預期慢;然而,該行認為這是進一步行業整合的驅動力,並且由於競爭溫和和生命週期更長,對已上市藥物有利。
該行首選股包括石藥集團(01093.HK)(予「買入」評級目標價17.2元)、康哲藥業(00867.HK)(予「買入」評級目標價15.2元)、恆瑞醫藥(600276.SH)、康方生物(09926.HK)(予「買入」評級目標價60.1元)、華東醫藥(000963.SZ)、國藥控股(01099.HK)(予「買入」評級目標價37.37元)、翰森製藥(03692.HK)(予「買入」評級目標價17.3元)和藥明康德(02359.HK)(予「買入」評級目標價126元)。
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