摩根士丹利发布研报称,维持中国生物制药(01177)“增持”评级,目标价由4.5港元升至4.6港元。该行上调对该公司的纯利预测11%,主要受惠于科兴生物的股息收入约为7亿元人民币。由于略微上调销售成本预测,2025-2026年纯利预计分别均增长0.5%。
大摩对该公司2024年销售额预测下降1.2%,主要原因是在医保限制更严格情况下,药品Ganmei销售疲软。由于考虑到Pertuzumab生物相似药(已于2024年12月获批)的销售额、CDK2/4/6(将于2025年获批)的更高假设,该公司2024-2025年的销售额预计将分别增长2.2%和3.7%。
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