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高盛:予信达生物(01801)“买入”评级 目标价上调至61.29港元

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高盛发布报告称,予信达生物(01801)“买入”评级,鉴于2023年公司高基数效应,预计2024年的的销售增长将会更为温和,同时亦会关注公司新批准或新推出的药物组合所带来的持续销售增长,作为总收入的新兴成长动力,目标价由60.66港元轻微上调至61.29港元。

该行表示,公司2023年下半年营业收入同比增长51%,同时产品销售额同比增长56%,主要归功于Tyvyt于内地市场地位持续增强。信达研发的辛迪利单抗注射液(Tyvyt)销售强劲,加上广泛的投资组合推动公司2023年下半年业务发展。该行亦指,公司毛利率持续改善;低于预期的研发开支;以及随商业投资组合扩大,公司销售及行销费用增加等因素,均令公司去年下半年净亏损符预期,并维持期内营运效率。

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