《大行报告》法巴下调石药(01093.HK)合理估值至15.9元 维持「持有」评级
法巴发表的研究报告指,将石药集团(01093.HK)的合理估值由19元降至15.9元,以反映每持有5股现有股份发行1股红股的影响,维持「持有」评级,此外并未有就其他估值作出调整。该行指有传媒报道第三轮国家中央采购初步名单,名单上有52只药物并包括注射药物,而当中亦包括了传统糖尿药物Metformin,相关药物早前曾出现在第二轮的初步名单中,但最终未有被纳入。
虽然上一轮中央采购为行业带来较负面的气氛,但该行认为仿制药大幅降价的负面因素已反映,而受中央采购价格向下带来的沽压则带来了买入的机遇。另外,公司计划在科创板发行新股,规模或达发行前股份总数的10%,相信募资所得将用作收购创新药资产以改善石药的药物开发能力。
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