一、估值模型思考之前的文章创新药的叙事经济学描述了创新药行业层面的叙事估值模型,这个叙事决定了创新药整体估值的商业模式理解维度,进一步落地到具体创新药企上,就是各自的管线估值模型,特别是各自的大单品估值模型,比如康方的AK112,信达的IBI363,亚盛的APG2575,科伦博泰的SKB264等等。创新药的基本面并非传统消费企业那样是连续的,也就是说比如像茅台、泡泡玛特它们,基本面在一定程度上是...
Source Link一、估值模型思考之前的文章创新药的叙事经济学描述了创新药行业层面的叙事估值模型,这个叙事决定了创新药整体估值的商业模式理解维度,进一步落地到具体创新药企上,就是各自的管线估值模型,特别是各自的大单品估值模型,比如康方的AK112,信达的IBI363,亚盛的APG2575,科伦博泰的SKB264等等。创新药的基本面并非传统消费企业那样是连续的,也就是说比如像茅台、泡泡玛特它们,基本面在一定程度上是...
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