大摩：药明系估值具上行空间看好药明合联较不受地缘政治影响

格隆汇2025-03-11

摩根士丹利发表研究报告指，药明系公司当前的估值未能充分反映早期需求复苏、价格见底以及新兴疗法带来的上行潜力等正面因素，认为业绩向好和积压订单增长均是行业正在回升的明确迹象，历时长达一年的《生物安全法案》事件去年底起宣告尘埃落定，而CRO及CDMO板块估值已回升至与2024年初水平，经历持续一年的低迷，认为随着全球生物科技行业融资逐渐回暖，研发需求复苏，加上产能利用率提升及ADC、BsAbs等新兴...

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大摩：药明系估值具上行空间 看好药明合联较不受地缘政治影响

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大摩：药明系估值具上行空间看好药明合联较不受地缘政治影响