《大行》野村:翰森製藥(03692.HK)達成產品授權 升目標價至25.64元
翰森製藥(03692.HK)宣布與Regeneron(REGN.US)達成合作,向其授予開發、生產及商業化HS-20094除內地、香港及澳門以外的全球獨佔許可,並獲得8,000萬美元首付款。
野村發表研究報告指,近年多間跨國製藥企業都紛紛向中國公司收購早期GLP-1相關資產,期望從龐大的二型糖尿病及肥胖市場中尋找發展機遇,今次翰森製藥的產品授權體現出其研發能力得到肯定,預期有助推動財務表現向好,相應將今明兩年收入預測上調4.5%及4.2%,盈利預測上調10.4%及7.9%,目標價從19.86元升至25.64元。鑒於當前估值偏貴,野村維持翰森製藥「中性」評級。
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