里昂发表报告称，阿里健康将2026财年收入增长指引上调到10%至20%(原为5%至10%)，并将调整后净利润增长指引上调到20%至30%(原为10%至20%)，主因原研与创新药(尤其是GLP-1药物)销售表现优于预期。阿里健康与京东健康的强劲销售数据证实处方药外流趋势加速且具可持续性。随着原研与创新药企拓展新销售渠道，在线平台阿里健康与京东健康成为最大受益者。 里昂基于原研药从院内流向院外市场的加速趋势，将阿里健康2026及2027财年调整后净利润预测上调8%与12%，以反映更乐观的药品销售前景；同时将目标价从4.8港元上调至6.5港元，维持“跑赢大市”评级。
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