和黄医药(0013.HK):蓝海扬帆行致远 海外市场启新程

华泰证券
30 Dec 2024

和黄医药专注BIC 小分子创新药的全球化研发,现有3 款创新药在国内获批,呋喹替尼海外权益授予武田并在美、欧等多地上市,1-3Q24 销售达2.03亿美元。我们认为公司营收将在呋喹替尼海外放量的驱动下持续走高,同时受益未来12 个月内的持续催化剂兑现,公司的海外竞争力则为其长期成长动力。首次覆盖和黄医药并给予港股和美股“买入”评级。核心产品处于放量期,公司尽显biopharma 潜质公司依托持续...

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