摩根士丹利发表研究报告指，翰森制药(03692.HK) 宣布与默沙东订立全球独家许可协议，向其授予开发、生产及商业化临床前口服小分子GLP-1受体激动剂HS-10535的全球独家许可，涉及首付款1.12亿美元，以及里程碑付款以及基于产品销售的特许权使用费最多19亿美元。
大摩认为消息对股价反应正面，虽然HS-10535过往较少被投资者关注，对于翰森制药的估值可能没有太大的贡献，但相信今次授权证明了公司的产品管线质量及研发能力，考虑到全球GLP-1市场竞争趋向激烈，公司此举有助降低风险，未来亦可将资源分配给其他差异化管线候选药物的研发当中，给予“增持”评级，目标价为24元。(gc/k)(港股报价延迟最少十五分钟。沽空资料截至 2024-12-18 16:25。)
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