大和发表研究报告指，和黄医药上半年产品销售额按年下降4%至2.34亿美元，主要因内地市场受竞争风险、团队重组及行业反腐影响。另外，Sovleplenib进度延迟，公司目标于明年上半年重新提交申请。海外策略方面，集团将推进新一代Syk抑制剂研发，预计明年次季提交新药研究(IND)申请。正面而言，ATTC平台取得突破，首个候选药物HMPL-A251的IND申请将于9月初提交，其临床前数据将于EORTC会议公布；另外两款ATTC药物预计于明年启动一期临床试验。 基于下调国内药物销售预期，该行将2025至27年收入预测下调16至29%，现预期2025、26及27年药物总销售额分别按年增长6%、21%及28%，而原先估计为34%、36%及33%，最新料净利润分别为4.33亿、3000万及4000万美元；维持“买入”评级，目标价由33港元下调至30港元。
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