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交银国际:升康方生物(09926)目标价至183港元 评级“买入”
智通财经网·2025-08-28 09:12

Core Viewpoint - The report from交银国际 indicates a significant potential for康方生物's HARMONi study to achieve statistically significant overall survival (OS) results due to a larger sample size [1] Financial Forecasts - The overseas peak sales forecast for康方生物 has been raised to $16.5 billion [1] - The financial projections for the group from 2025 to 2027 have been adjusted [1] - The target price for康方生物 has been increased from HKD 140 to HKD 183, maintaining a "Buy" rating [1] Sales Performance - The company's commercial sales revenue for the first half of the year increased by 49% year-on-year to RMB 1.4 billion [1] - The growth in sales is primarily attributed to the inclusion of the core dual antibody products卡度尼利 and依沃西 in the medical insurance catalog at the beginning of the year [1] - The commercialization of PCSK9 and IL12/IL23 has also contributed to the sales growth [1] - The sales team has over 1,200 members and continues to enhance the oncology and specialty drug divisions [1]