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《大行報告》中金升和黃醫藥(00013.HK)目標價22%至37元 評級「跑贏行業」
阿思達克 01-30 15:18
中金發表報告,指本月下旬和黃醫藥(00013.HK)與武田藥品達成fruquintinib((口夫)(口奎)替尼)海外授權合作。根據合作協議條款,武田將取得產品所有適應症在大中華區之外的開發和商業化獨家權益,和黃醫藥將可獲得近11.3億美元的總付款,包括4億美元首付款以及未來潛在7.3億美元的里程碑付款,以及未來潛在銷售分成。 報告維持2022年主營業務收入和應佔純利預測不變;由於預計公司(口夫)(口奎)替尼2023年將取得海外授權收入與部分里程碑授予,該行將2023年收入預測由3.92億美元上調至8.51億美元,應佔純利預測則由負3.6億美元上調至正3,400萬美元;首次引入2024年收入和淨利潤預測分別6.31億美元和負1.07億美元。 報告採現金流貼現法對公司進行估值,維持H股「跑贏行業」評級,上調目標價22.2%至37港元。
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