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中信证券料复药(02196.HK)旗下「复必泰」疫苗有望本季内地获批 重申「买入」评级
阿思达克 05-03 12:19
复星医药(02196.HK)今日早市股价抽上9.1%收53.85元。中信证券早前发表报告表示,复星医药今年首季业绩略超市场预期,公司收入和利润均取得恢复性增长,该行推断制药板块贡献最大。公司出售佛山禅曦股权及复星牙科内部重组,发展战略更加清晰。而在研项目储备丰富,该行料复星医药旗下重磅产品陆续获批,商业开发(BD(business development))项目不断落地,财务费用和销售费用率控制较好,经营性现金流情况良好,维持对其H股「买入」评级及目标价52元。

该行指许可引进方面,获BioNTech授权在中国大陆及港澳台独家开发、商业化mRNA新冠疫苗。目前mRNA新冠疫苗BNT162b2「复必泰」已被使用在香港、澳门的政府接种计划,国内有望二季度获批;对外许可方面,公司自主研发的Bcl-2小分子抑制剂的中国以外权益已授予礼来;曲妥珠单抗通过与Accord合作已在英国、德国等上市销售;曲妥珠单抗在美国及加拿大的商业化权益授予Intas。

中信证券指,首季研发费用6.41亿人民币按年升7.95%。公司自回爱民的加入後研发更成体系,临床推进速度大幅加快。其中贝伐珠单抗处於上市申请阶段;CAR-T已经报产并被纳入优先审评审批,进展国内第一,有望近期获批上市;PD-1单抗正在进行9项II期以上临床试验(非鳞非小细胞肺癌、鳞状非小细胞肺癌、小细胞肺癌、转移性食管癌、胃癌、MSI-High等),进展最快的适应症(MSI-High)已递交上市申请并被纳入拟优先审评品种。

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