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瑞信:維持中生製藥(1177.HK)“中性”評級 目標價11.7港元
格隆匯 11-27 16:38
瑞信發表研究報告指,中生製藥(1177.HK) 第三季收入按年升13.1%,淨利潤跌2.9%,經調整後淨利潤增長7.9%,均符合該行預期,考慮到進一步政策阻力有限,以及抗腫瘤藥安羅替尼(Anlotinib)的增長潛力,因此維持其“ 中性 ”評級及目標價11.7港元不變。
該行指出,集團第三季主要增長動力為抗腫瘤及呼吸系統領域,相信在新階段帶量採購下,中生製藥仍可保持乙肝藥恩替卡韋(Entecavir)現有的市場份額,而糖尿病藥物Metformin則因銷售額僅佔總收入的0.55%,預期降價對集團的潛在影響非常有限。

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