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瑞信:重申石藥(01093.HK)“跑贏大市” 目標價19.17港元
格隆匯 11-04 11:31

瑞信近日發表報告表示,石藥(01093.HK)於上週三(30日)在上海舉行投資者日,與會者包括石藥主席蔡東晨等管理層,分享了集團在研發、主要藥品管道、產能等策略。該行引述石藥管理層稱,公司今年上半年研究開發成本9.42億人民幣,至2019財年全年達到22億至25億人民幣,公司計劃用收入10%至15%作為研發支出,將會平衡研發投資與現金平衡水平,並不會提高負債水平。

該行亦引述石藥管理層透露,其銷售團隊人數介乎8,000至9,000人,至2020年將增加至1.4萬至1.5萬人,而旗下商業拓展計劃料今年可簽訂七單交易,可令相關銷售額達到120億人民幣高峯,而公司已擁119種藥品的生產線,及14條不同類型的配方生產線,並可加速擴至1,000種劑量型號。

瑞信表示,重申對石藥“跑贏大市”評級及目標價19.17港元,料公司增長穩固,風險適度平衡,並料公司短期推出新藥品,將可成催化劑。

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