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研報掘金丨國聯證券:首予百利天恒“買入”評級,成功轉型為國際化創新型藥企
格隆匯 02-24 15:56
國聯證券研報指出, 百利天恒(688506.SH)從仿製藥企業成功轉型為國際化創新型藥企,在雙抗ADC領域處於國際領先水平。公司依託自主開發的雙抗、多抗及ADC藥物研發平台,開發了多款腫瘤領域的創新藥產品。目前已有11款管線進入臨牀階段,其中3款已啟動註冊臨牀試驗。公司的雙抗ADC、四特異性抗體等差異化管線具備同類最佳潛力,核心品種BL-B01D1達成了大額出海授權交易,有望成為泛癌種基石藥物。公司為創新藥龍頭公司,核心產品具有成為全球重磅藥物潛力,在FCFF模型測算下,認為公司合理市值為1000.6億元,首次覆蓋,給予“買入”評級。
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