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《大行报告》瑞银首予荣昌生物-B(09995.HK)「中性」评级 目标价108元
阿思达克 04-12 09:39
瑞银发表研究报告,指出荣昌生物(09995.HK)拥有强大的内部研发能力,产品线有超过10款新药在研发中,覆盖自身免疫、肿瘤学及眼科疾病等领域,不少产品今年将进入商业化阶段,首予「中性」评级。

报告指出,荣昌生物的核心产品泰它西普(RC18)已於3月在中国推出,而另一款胃癌新药Disitamab Vedotin(RC48)则预期快将获批。该行指出,两款产品正在中国及美国就适应症进行6个注册实验,预期随着商业团队和制造设施的扩充,期望2024年可达到收支平衡。

瑞银指,泰它西普是国内首个批准用於SLE治疗的生物制剂,目前在美国处於3期试验,料成为公司主要增长动力,预期至2023年峰值销售额可达到86亿元人民币;而RC48预期至2030年峰值销售额可达11亿元人民币。

瑞银基於2030年总峰值销售额124亿元人民币的预测,以净现值估值法给予目标价108元。

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