智通财经APP获悉，中金发布研报称，维持和黄医药(00013)“跑赢行业”评级，上调目标价7.7%至28港元。考虑到本次交易于今年达成，该行调整2026年及2027年确认收入节奏，上调2026年净利润预测41%至7,807万美元，下调2027年净利润预测25%至6,638万美元。
和黄医药近日公告与葛兰素史克(GSK)达成独家开发和许可协议，将HMPL-A830除中国以外的全球开发和商业化权益授予GSK。中金指出，该公司将收取1.1亿美元首付款，并可能获得总额高达11.85亿美元的研发、监管和商业化里程碑付款，以及基于年度销售额的分层特许权使用费。
该行表示，HMPL-A830是和黄医药全球首创KRAS-EGFR抗体靶向偶联药物(ATTC)。未来临床开发将首先聚焦结直肠癌、胰腺癌和肺癌适应症，和黄医药将负责全球I期临床，预计于2026年下半年启动。该行认为GSK是有力合作伙伴，并指ATTC平台获跨国药企背书，除HMPL-A830外，PI3K/PIKK系列管线亦具备看点。
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