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《大行報告》麥格理:中生製藥(01177.HK)產品線足夠未來三年增長 維持「跑贏大市」評級
阿思達克 11-27 16:03

麥格理報告指出,中生製藥(01177.HK)第三季度盈利增幅錄約5%,較今年首季及次季的27%及17%有所放緩,預計至2020年增長速度將回升,加上強大的產品線足以支持未來3年發展,維持「跑贏大市」評級及目標價13.34元。

該行指,隨著明年1月份全國實施帶量採購,預計中生製藥受影響的相關產品銷售額將從去年的69億元人民幣(下同),減少到2021年的17億元;乙肝藥恩替卡韋目前銷量下降趨勢仍然溫和,預期今年銷售額下降至26億元,相信至2020年才會大幅收窄降至8億元,並於2021年降至3億元。

不過,該行預料中生製藥未來陸續推出的創新產品和新仿製藥儲備足以抵消上述影響,並在未來三年中每年保持至少20%的收入增長,估計至2024年抗腫瘤產品銷售額將從30億元躍升至350億元,而心血管藥物銷售額則提升75億元。

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