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匯證:重申康哲藥業(0867.HK)買入評級 升目標價至16.5港元
格隆匯 01-20 16:40

匯證發表研究報吿指,對康哲藥業(0867.HK)的轉型維持正面看法,認為其強勁的銷售渠道及於低線城市的滲透率有助公司保有其市佔率,預期於2019-2022年間收入及利潤的年複合增長率分別為7.7%及10.5%,將公司目標價由15.2港元升至16.5港元,重申買入評級。

匯證表示,儘管現時傳統藥廠正面臨艱苦的生存環境,認為公司的轉型戰略具有成效,反映出公司穩健的管治手法及其主席的願景,亦預期公司旗下藥物Deanxit及Plendil於2021-22年將會依照價值基礎訂價法(VBP),但認為VBP對銷量的影響可控,公司亦正發展新的增長動力,預料旗下藥物Desidustat將於2023年推出。

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