瑞銀:升石藥(1093.HK)目標價至20.7港元 評級“中性”
瑞銀髮表報告指,基於石藥(01093.HK)在今年至2023年的盈利增長能見度增高,上調對集團股份目標價,由17.4港元升至20.7港元,評級維持“中性”。該行估計,石藥在2018年至2023年的純利年均複合增長率可達21%,主要推動力為治療中風的恩必普(NBP)的銷售增長持續、腫瘤藥品的表現強勁提升,及通用仿製藥的銷售增長加快。
該行表示,集團的白蛋白紫杉醇(albumin-bound paclitaxel)在內地第二輪藥品集中採購中降價70%,並與恆瑞醫藥及賽基分享未來兩年70%的集採用量,雖然對石藥的集採保證用量僅約3,000萬元人民幣,但該行相信獲納入集採可確保公立醫院的分銷渠道,可為藥品的長期增長鋪路。

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