大行评级|大摩:首予恒瑞医药H股目标价78港元及“增持”评级

格隆汇
02 Jul

摩根士丹利发表研究报告,认为恒瑞医药在内地药企中拥有最广泛且最平衡的产品组合及管线,公司预期2025至27年将有47款新药获批上市。而公司自2018年起,有14个对外授权交易,涉资共150亿美元,涵盖不同阶段及技术平台。加上国际药企对采购内地药企资产的兴趣越来越高,该行料未来将有更多对外授权交易。 该行料恒瑞2024至27年间创新药销售的年均复合增长率为34%,公司收入及净利润的年均复合增长率分别料18%及24%。该行首次覆盖其H股,予目标价78港元,恢复覆盖恒瑞医药A股,目标价71元,均予“增持”评级,并将H股列为首选。

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