《大行》富瑞:美國擬對品牌藥品徵收100%關稅 料對中國藥企影響有限
富瑞發表研究報告指,美國總統特朗普在提出200%藥品關稅威脅兩個月後,再宣布對品牌藥或專利藥徵收100%關稅,以推動製造業本土化。由於中國藥企對美國市場的直接藥品銷售極少,加上中國生物科技公司可透過與跨國藥企的合作模式,免於關稅影響,因此富瑞相信影響有限。
至於對CDMO企業來說,富瑞預期美國本土生產成本的增加將由跨國藥企客戶承擔,而藥明生物(02269.HK)已佈局美國產能,目前在美國新澤西州已擁有4,000升產能,並計劃於2027年前新增3.6萬升產能,相較之下三星生物製藥尚未在美設廠,建議投資者可趁股價調整時吸納藥明生物。
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