智通财经APP获悉，花旗发布研报称，下调对中国生物制药(01177)明年收入及每股盈利预测分别5%及6%，反映可能出现的生物相似药带量采购影响，目标价由7港元降至6.2港元，维持“买入”评级。该行指，纵使带量采购(VBP)对非专利药影响对中生制药影响轻微，但潜在的生物相似药带量采购仍为公司的风险。报告提及安徽医疗保障局宣布今年带头进行全国生物相似药采购。
该行指中国生物制药去年收入及净利润同比升10.2%及33.5%，符该行及市场预期。毛利率同比升半个百分点至81.5%，研发支出比率升0.8个百分点至17.6%。管理层指引今年收入及净利润双位数增长，受过去两年创新药及生物相似药25%以上同比增长，以及非专利药正增长推动。管理层亦指引毛利率上升，受惠规模经济，以及开支稳定。
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