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研報掘金丨東吳證券:首予上海醫藥“買入”評級,商業板塊有望維持雙位數增長
格隆匯 11-07 15:51
東吳證券研報指出,藥品CSO賦能商業快速增長,上海醫藥(601607.SH)三季報業績符合我們預期。前三季度公司引入進口總代品種13個、藥品CSO 合約推廣業務實現銷售收入約61 億元,同比增幅達176.3%。在中藥方面,公司持續推進大品種培育戰略,全年中藥六大品種養心氏片、瘀血痺膠囊、冠心寧片、八寶丹、胃復春、銀杏酮酯的循證醫學研究持續推進,病例入組數進一步增加。考慮公司CSO增長動力足,商業板塊有望維持雙位數增長,工業板塊25-26年有望成果兑現,預計公司24-26年歸母淨利潤分別為50.15/56.32/63.49億元,首次覆蓋,給予“買入”評級。
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