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李樂雯女士 (Phoenix Li)
經理

現任職輝立分行經理,對股票、期貨投資經驗豐富。 樂意為客戶提供投資分析及買賣策略。 歡迎各位來電交流心得。
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遠大醫藥健康控股有限公司 (512)

Monday, January 6, 2020 Views6876

業務回顧

集團主要從事研發、製造及銷售醫藥製劑及醫療器械、生物技術產品、精品原料藥和健康產品。集團的核心醫藥及器械產品主要用於心腦血管急救治療領域、耳鼻喉及眼科(「五官科」)治療領域以及選擇性內放射腫瘤治療領域。 公司已於二零一八年三月被成功納入深港股票市場交易互聯互通機制 (「深港通」)之名單,進而被納入MSCI明晟中國小型股指數成分股之名單。

 

中期業績

遠大醫藥(00512.HK),截至今年6月底止中期業績,營業額35.87億元,按年升10.9%。純利5.47億元,按年升73.4%;每股盈利17.22仙。

 

業務前景

集團將與澳洲格里菲斯大學(Griffith University)簽署獨家授權以及合作開發協定,將獲得格里菲斯大學糖組學研究所開發的全球首創治療副流感的產品及相關技術的全球開發及商業化權益。根據協定,集團將根據開發進度及銷售情況分階段向格里菲斯大學支付首付款及里程碑款項,並根據副流感新藥的銷售金額支付若干比例的權利金。

 

於二零一八年六月,集團與CDH Genetech訂立了收購實施契約,以總代價約19億澳元認購Sirtex的100%股份,其中集團將會持有Sirtex的49%股本權益。主要產SIR-Spheres®釔-90,樹脂微粒的精準靶向放射治療產品,主要應用於肝癌的選擇性內放射治療(SIRT),用於治療不可手術切除中晚期肝癌患者。其產品項目包括針對肝癌的放射治療技術,目前已於全球50個國家銷售,臨床累計使用達10萬劑。中國核放療抗腫瘤市場 – 中國每年新發及死亡肝癌患者佔全球50%以上,相對其他國家,中國早期檢出率較低,意味著一個巨大的市場。CFDA 大力支持引入的國內緊缺的國外先進腫瘤醫療。SIR-Spheres® 相對其他現行及在研腫瘤售價較低,同時有潛力成為國家醫保產品。現時中國政府政策支持創新藥發展,會爭取Sirtex的放射治療進入內地醫藥綠色通道。期望該產品可盡快進入中國市場,目前預計或於2021年在國內上市。

 

由集團及位於德國的聯營Cardionovum GmbH共同自主開發的中國市場首款同時具有支架內再狹和小血管病變的雙適應症的創新冠脈介入治療產品「紫杉醇釋放冠(月永)球囊擴張導管」,近日獲批國家藥品監督管理局頒發的「醫療器械註冊證」,並將會由集團負責於中國的推廣和銷售。德國聯營Cardionovum的兩款治療冠心病及血透產品,預期將相繼於今年底及明年上市,料明年開始可帶來收入貢獻。集團在中國、澳洲及歐洲都會有創新研發中心,今年的研發開支料逾2億元。

 

建議

 

買入價格:4.4  目標價:5  止蝕價格:4.2

本人李樂雯為證監會持牌人士。截至本評論文章發表日止,本人及/或其有聯繫者並無持有全部提及之証券的所有相關財務權益

 

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