Investment Rating - The report maintains a "Buy" rating for the company [5]. Core Views - The approval of Furmonertinib in the US is expected to drive sales growth, with positive trends observed in the US market. The drug is anticipated to receive approvals in Europe and Japan within the year, indicating a strong potential for overseas market expansion [3][4]. - The company is expected to submit a New Drug Application (NDA) for Savolitinib in the US by the end of the year, with a promising pipeline of innovative drugs entering the market [3][4]. Summary by Sections Sales Performance - Furmonertinib's sales in US medical institutions have shown a consistent month-on-month increase since its launch, achieving sales of $1.44 million, $5.18 million, $10.31 million, $13.30 million, and $15.33 million from November 2023 to March 2024, with a peak sales forecast exceeding $500 million [4]. Drug Approvals - Furmonertinib received a positive opinion from the European Medicines Agency (EMA) for treating metastatic colorectal cancer and is expected to be approved soon. Additionally, an NDA was submitted in Japan in September 2023, with expectations for approval in 2024 [4]. Pipeline Developments - The company is advancing its pipeline with Furmonertinib's combination therapy for endometrial cancer expected to present data at the 2024 ASCO conference. The NDA for this combination therapy was accepted for priority review [4]. - Savolitinib has shown promising results in treating first-line MET14 skipping NSCLC, with an overall response rate (ORR) of 62.1% and a disease control rate (DCR) of 92.0%. The NDA for this indication is expected to be submitted in the US by the end of 2024 [4]. Financial Projections - The company reported revenues of $426 million in 2022, with a significant increase to $838 million in 2023, reflecting a growth rate of 97%. Projections for 2024 indicate a revenue decrease of 16%, followed by a recovery in subsequent years [9].
公司跟踪点评：呋喹替尼欧日获批在即，海外放量可期