大行評級|建銀國際:維持百濟神州“跑贏大市”評級 目標價150港元
建銀國際發報吿指,維持百濟神州“跑贏大市”評級,目標價從158港元下調至150港元。建銀國際指,百濟神州PD-1生物藥預計2023財年底獲美國市場批准,進入美國市場,用於食道鱗狀細胞癌(ESCC)一線治療。該行又指,由於製藥商對營銷的情緒發生變化,從2023財年第三季度開始,內地醫院的所有一般採購都將推遲。該行下調該公司2023和2024財年收入預測14%和8%,至19億美元和25億美元,考慮到公司從2024年開始推進PD-1的海外銷售,將2023和2024財年淨虧損預測上調8%和38%,至虧損13億美元和8.62億美元,2025財年預測由盈轉虧,料錄淨虧損8.27億美元。
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