Core Viewpoint - On July 30, CSPC Pharmaceutical Group licensed its oral small molecule GLP-1 receptor agonist SYH2086 to US-based Madrigal Pharmaceuticals for a total transaction value exceeding $2 billion, including a $120 million upfront payment, surpassing market expectations [1] Event - CSPC Pharmaceutical Group announced a licensing agreement with Madrigal Pharmaceuticals for the global development, production, and commercialization rights of its self-developed oral GLP-1 receptor agonist SYH2086 [1] Financial Forecast, Valuation, and Investment Recommendation - The company expects revenues of 29.787 billion yuan, 31.698 billion yuan, and 33.899 billion yuan for 2025-2027, with net profits attributable to the parent company of 5.342 billion yuan, 5.651 billion yuan, and 6.059 billion yuan, corresponding to PE ratios of 21, 20, and 19, maintaining a "buy" rating [1]
石药集团(1093.HK)：口服小分子GLP-1成功BD 管线创新价值持续验证