《大行報告》中金料內地是次醫藥領域反腐力度較大 關注銷售率合理及規範良好龍頭企業
中金發表研究報告指,國家衛健委等部門上月發布《深化醫藥衛生體制改革2023年下半年重點工作任務》,當中將醫療行業反腐列為下半年重點,近日內地初審刑法修正案亦在行賄罪規定中加入對醫療領域行賄行為從重處罰,均反映出當局今次醫療反腐力度較大。
考慮到醫藥板塊經歷估值回調,目前大部分公司的估值都處於相對合理水平,中金建議投資者關注中期業績超出市場預期、且估值處於歷史相對低位的防御性較強股份,或是業績較預期遜色但擁有長期穩健增長能力的公司,亦建議關注銷售費率合理、行為規範往績表現良好的龍頭企業,對藥明生物(02269.HK)、康方生物(09926.HK)、石藥集團(01093.HK)、海吉亞醫療(06078.HK)、國藥控股(01099.HK)、麗珠醫藥(01513.HK)、及康諾亞(02162.HK)給予「跑贏行業」評級,最新目標價詳見另表。
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