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研報掘金丨國金證券:恒瑞醫藥創新轉型成果逐步兑現,維持“買入”評級

國金證券研報指出,隨着上市藥品的不斷放量,創新藥正逐漸成為驅動恒瑞醫藥(600276.SH)業績增長的主要推動力,2023年公司創新藥收入達106.37 億元(不含對外許可收入),同比增長22.1%,佔總收入比重達41.61%。此外,公司去年推動3款1類創新藥(阿得貝利單抗、磷酸瑞格列汀、奧特康唑)、4款2類新藥(鹽酸右美託咪定鼻噴霧劑、醋酸阿比特龍納米晶、鹽酸伊立替康脂質體、恒格列淨二甲雙胍緩釋片)獲批上市。此外,公司多個項目在美國、歐洲、亞太等國家和地區獲得臨牀試驗資格,HER2 ADC、Claudin 18.2ADC、TROP2 ADC、HER3 ADC、CD79b ADC、Nectin-4 ADC 等 6 款ADC 以及 PVRIG-TIGIT 雙抗等腫瘤創新產品以及SHR-1707(抗Aβ單抗)、Edralbrutinib 等非腫瘤創新藥均已實現國內外同步研發。維持“買入”評級。

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