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《大行报告》大和升君实生物(01877.HK)评级至「买入」 目标价90元
阿思达克 03-24 10:10
大和发表研究报告指,君实生物(01877.HK股价近期回落12%,相信是由於有报道指其核心产品特瑞普利单抗(Toripalimab)首季销售额表现放缓,指出销售放缓的内地农村地区,早前已转交由阿斯利康进行销售和市场营销。

该行指,君实与阿斯利康月初宣布达成战略合作,将在产品研发、市场覆盖、拓展销售渠道等多方面合作,预期将有助君实改革其销售团队架构,令其未来更集中发展核心城市的销售。该行预期,Toripalimab今年销售额将按年增长70%,至19亿元人民币。

大和又认为,君实与Coherus就Toripalimab於美国及加拿大的授权合作,今年将收取首笔里程碑费用,预期今年预先贡献收入约1.5亿美元,预期该产品的生物制剂许可申请最快於今年底至明年底获批,2022年可贡献收入,较早前预测提早一年。同时,另一核心产品JS016预期今年将贡献收入约28亿元人民币。

大和将君实生物的评级由「跑赢大市」升至「买入」,对其国内销售前景看法乐观,目标价由89元升至90元。

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