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《大行報告》中金:和黃醫藥(00013.HK)FRUZAQLA美國獲批上市 上調目標價至38.25元
阿思達克 11-10 15:20
中金發表報告指出,和黃醫藥(00013.HK)披露其FRUZAQLA((口夫)(口奎)替尼/fruquintinib)已獲美國食品藥監局(FDA)批准上市用於治療三線及以上成人轉移性結直腸癌患者,批准較原定處方藥用戶付費法案(PDUFA)日期提前20日。 該行認為,未來(口夫)(口奎)替尼有望在多個國家陸續獲批,本次FDA批准適應癥為三線及以上晚期結直腸癌,未來武田製藥亦有望開展其他適應癥的臨床探索,建議關注後續產品臨床開展及審批動向。 另外,(口夫)(口奎)替尼為一款小分子TKI藥物,該行認為相比當前胃癌標準二線治療雷莫蘆單抗聯用紫杉醇具備給要依從性更好的優勢,中國晚期胃癌患者群體龐大,產品獲批上市有望增厚(口夫)(口奎)替尼未來銷售額,鑑於(口夫)(口奎)替尼海外上市及國內適應癥有望擴展,該行建議關注產品未來銷售放量情況。 由於(口夫)(口奎)替尼海外獲批落地,因此該行上調風險因子,此外和黃醫藥預計將獲得3,500萬美元的里程碑付款,該行基本維持今明兩年的營業收入預測,將今年淨利潤預測上調56%至7,785萬美元,維持明年淨虧損508萬美元不變。維持「跑贏行業」評級,上調H股目標價3.4%至38.25元。
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