《大行報告》富瑞微升諾誠健華-B(09969.HK)目標價至13.2元 評級「持有」
富瑞發表研究報告指,諾誠健華-B(09969.HK)用於治療多發性硬化症的藥物奧布替尼基於有限數量的肝損傷病例,美國食品藥品監督管理局(FDA)已對該藥實施部份臨床擱置。集團將與FDA密切合作以解決這項問題。
集團將分析數據,並將與其合作夥伴Biogen合作,有可能對協議進行修訂,包括在入組期間更好地篩查患者,包括那些已經存在肝臟問題/病史的患者,並實施更好的安全監測/措施。集團表示,tolebrutinib和evobrutinib亦曾經出現類似的問題,相信可以作為下一步的參考。
該行認為,僅僅更好的安全性可能不足以使奧布替尼更具競爭力,尤其是與目前正在試驗中的更新/下一代藥物進行比較時。該行注意到,新一代可逆BTK在CLL中顯示出療效。與單獨使用BTK相比,BTK+CD20和BTK+BCL-2的組合顯示出更高的療效。按照目前的估值,市場期待奧布替尼在多個適應症的開發和商業化方面的完美執行。但該行希望在測試者有充分信任之前,再次確認其安全狀況和更好的採用趨勢。該行將集團目標價由13元上調至13.2元,評級為「持有」。
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