文章转自2025年04月14日太平洋医药团队报告,分析师:周豫/霍亮/戎晓婕投资要点信达生物是国内领先的Biopharma,核心推荐逻辑如下:1)公司商业化能力已得到验证,产品收入有望保持高速增长。15款已上市产品将贡献稳定增长的现金流,肥胖、糖尿病及银屑病大适应症获批将陆续落地。2)肿瘤免疫双抗和ADC具备全球竞争力。基于自研平台开发的PD-1/IL-2双抗ADC管线拥有优秀的概念验证数据,已...
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