和黄医药：赛沃替尼成功续约医保谈判，美国报产在即

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The company successfully renewed the negotiation for the national medical insurance drug list for Savolitinib, with no price reduction in the recent negotiations. The drug is expected to be submitted for approval in the US by the end of 2024, following positive results from overseas Phase II clinical trials for second-line EGFRm+ MET-driven NSCLC [2] - The overseas sales of Fuzulopatinib continue to grow, and the company anticipates approval for new indications domestically. Fuzulopatinib is the first and only small molecule targeted drug approved for third-line mCRC in the US in the past decade, and it has been included in the NCCN guidelines. The drug has achieved net sales of $200 million overseas in the first three quarters of this year [2] - The potential best-in-class Syk inhibitor, Solitomab, has commenced overseas clinical trials. The number of existing ITP patients in China is expected to exceed 300,000 by 2027, with 67$665 million, $808 million, and$969 million, respectively, with profitability expected in 2025. The company has multiple catalysts in play, and the overseas market is opening up, indicating high growth certainty [3] Financial Summary - Total revenue (in million USD) is projected to be $665.00 in 2024,$808.00 in 2025, and $969.00 in 2026, with a year-on-year growth rate of -20.64$41.78 million in 2024, $48.83 million in 2025, and$178.71 million in 2026, with significant year-on-year growth rates of 216.88% and 265.95% in 2025 and 2026, respectively [1][3] - The latest diluted EPS is projected to be -$0.05 in 2024,$0.06 in 2025, and $0.21 in 2026 [1][3]