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《大行》招銀國際降和黃醫藥(00013.HK)目標價至31.39元 料國內銷售承壓
阿思達克 08-12 11:28
招銀國際研究報告指,和黃醫藥(00013.HK)上半年腫瘤及免疫產品收入按年跌15%至1.44億美元,僅達該行全年預測的36%,主要因核心產品內地銷售收入下跌。 報告指,管理層對下半年仍持樂觀態度,基於fruquintinib用於子宮內膜癌(EMC)適應症上市、savolitinib MET+ EGFRm非小細胞肺癌(NSCLC)二線療法獲批,以及銷售團隊重組完成;管理層又指銷售已於首季觸底,次季起恢復增長。 公司將全年腫瘤及免疫產品收入目標由3.5億至4.5億美元下調至2.7億至3.5億美元,而該行對指引持保守看法,因考慮到fruquintinib海外銷售按季持平,以及國內市場競爭持續;維持「買入」評級,基於上半年業績一般以及指引下調,目標價由34.03元降至31.39元。
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