穿越周期的底色,与一个即将重估的复宏汉霖

建国路128号
Feb 26

最近一段时间,创新药板块的资金审美正在发生结构性的切换。过去几年,市场愿意为靶点和管线的BD预期支付溢价;但到了2026年,大家也开始变得越发谨慎,海外商业化能否带来真实的现金流,越来越成为衡量药企价值的核心。在这样一个充满博弈的时间节点,复宏汉霖在今年农历开年拿出了一份值得细品的公告:雅培(Abbott)进一步拿下了H药(汉斯状,斯鲁利单抗)在亚太、非洲、中东欧等42个新兴市场的商业化权益。翻开...

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