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《大行》匯研對內地生科行業長期增長正面 看好信達生物(01801.HK)翰森(03692.HK)
匯豐研究報告表示,近日有消息指白宮正在起草一項草案,或影響中國仿製藥與創新藥與美國企業的對外授權業務合作(BD)。雖然具體細節尚未公佈,但相關政策可能涉及對中美企業創新藥物授權合作實施更嚴格審查,引發市場擔憂。
基於現有資訊而言,該行認為有關消息短期內對市場情緒的衝擊,大於對行業或業務合作趨勢的實質影響。此外,該行認為國內銷售穩健、有強勁研發管線及已對外授權資產的龍頭藥業,在短期股價調整中更具防禦性。
該行對生物科技行業長期增長前景持正面看法,並認為內地藥企對外授權的趨勢難以阻斷;看好信達生物(01801.HK)及翰森製藥(03692),目標價分別為110元及47元,均予「買入」評級,因其擁有強勁的國內銷售、早期研發管線可支持長期增長,以及有充足營運資金。
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