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野村:看好中國藥品市場 籲買入石藥(1093.HK)及中生製藥(1177.HK)
格隆匯 03-17 12:19

野村發表研究報告指,對中國藥品市場持樂觀態度,藥品集中採購組織(GPOS)的發展將影響小型製藥公司,幫助行業領導者迅速鞏固基層市場。該行首予石藥集團(1093.HK)及中生製藥(1177.HK)買入評級。

野村指,新型冠狀病毒對領先製藥公司的負面影響將在第二季度緩解。續指,國家招標的平均降價幅度為50%,將抑制相關產品的銷售高峯,而GPOS的加入有助於這些產品進入醫院,從而幫助它們滲透到基層市場,因此將國家招標程序視為主要製藥公司增加其市場份額的機會。

野村續指,儘管市場擔心政策不利因素和短期收入波動,但強調在未來的30年,中國65歲或以上人口的複合年增長率將達到3%,同時患者有能力自付費用。根據聯合國的估計,醫療保健費用繼續提高。該行認為,排名前15位的製藥公司在中國的市場份額約為30%,因此行業領導者將進一步加強其影響力。

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