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《大行報告》瑞信下調中生製藥(01177.HK)目標價至9.4元 評級「跑贏大市」
阿思達克 12-01 13:11
瑞信發表研究報告指,中生製藥(01177.HK)第三季業績受仿製藥藥品集中採購(GPO)及疫情的持續負面影響,收入及盈利均錄得下跌,收入按年跌19.4%,盈利按年下降21.4%,但按季增長81.6%。

該行表示,管理層電話會議中強調了創新研發、提升生產效率及全球化業務發展的計劃,相信在研發渠道上可保持長期增長潛力,預期明年Anlotinib適應症可望增加,PD-1、VIII因子及四種生物仿製藥亦有機會上市。

瑞信假設明年及2022年銷售增長將超過10%,對中生產品線長期商業潛力持樂觀態度,維持「跑贏大市」評級,但考慮到疫情的影響,修訂收入預測,將2020至2022財年盈利預測下調18%、17%及13%,目標價由10元下調至9.4元。

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