「默沙东」「BMS」Q3财报已发,K药有望成下代药王,O药能否救BMS?

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关键词: 财报默沙东
资讯来源:药时代
发布时间: 2022-10-28

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<img class="rich_pages wxw-img" data-backh="19" data-backw="578" data-galleryid="" data-ratio="0.03333333333333333" data-s="300,640" src="https://zfz-oss.oss-cn-hangzhou.aliyuncs.com/temp/d2b47a0ab0c698c48c0b3c55591763ed.png" data-type="png" data-w="1080" style="font-size: 16px;outline: 0px;text-align: center;letter-spacing: 0.544px;display: initial;width: 100%;box-sizing: border-box !important;visibility: visible !important;height: auto;"/></section></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-size: 15px;font-family: " yahei="">本周,各大药企陆续公布第三季度财报。</span></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-size: 15px;font-family: " yahei="">作为“OK药”正主的百时美施贵宝(BMS)与默沙东(MRK.US)也于本周相继公布了第三季度财报。</span></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-size: 15px;font-family: " yahei="">2022年10月25日,BMS公布第三季度财报。财报显示,第三季度总销售收入为112亿美元,同比下降3%。</span></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-size: 15px;font-family: " yahei="">就销售占比而言,主力还是抗凝药Eliquis和PD-1单抗Opdivo(O药)。其中Eliquis <span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">前三个季度</span>累积销售达90.72亿美元,O药前三个季度<span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">累积</span>销售60.33亿美元。</span></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-size: 15px;font-family: " yahei="">尽管O药在销售额上略逊一筹,BMS<span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">还是</span>一直致力于拓展其适应症和使用范围。<span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">自2014年</span><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">在</span><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">日本获批后</span><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">,</span>作为全球首款PD-1单抗抗癌药,O药不断有新适应症获批。今年6月,O药<span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">又</span>在中国拿下了两大食管癌适应症,进一步提升了上消化道肿瘤免疫治疗适应症覆盖率。</span></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><img class="rich_pages wxw-img" data-backh="327" data-backw="578" data-ratio="0.5654574132492114" src="https://zfz-oss.oss-cn-hangzhou.aliyuncs.com/temp/8b5d3523257784c487e49f40d8006410.png" data-type="png" data-w="1268" style="width: 100%;height: auto;"/></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-size: 15px;font-family: " yahei="">据不完全统计,O药已在全球超过65个国家和地区获批,适应症涵盖了11个瘤种。并且,还有许多适应症处于三期临床试验中。</span></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-size: 15px;font-family: " yahei="">当然,BMS的Q3财报整体还是呈下滑状态。主要原因在于重磅炸弹Revlimid(来那度胺)受仿制药冲击,<span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">较2</span><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">021年Q3</span><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">,<span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">其国际收入</span></span><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">同比下降高达76%,</span>为2.5亿美元。</span></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><img class="rich_pages wxw-img" data-backh="333" data-backw="578" data-ratio="0.5755905511811024" src="https://zfz-oss.oss-cn-hangzhou.aliyuncs.com/temp/5da12acbe6278f9fb8c540d0360d8484.png" data-type="png" data-w="1270" style="width: 100%;height: auto;"/></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-size: 15px;font-family: " yahei="">去年还给BMS带来了128亿美元的销售额的Revlimid,今年年初就开始一路走低,半年销售额为52.98亿美元,同比下跌14%。反观Teva的仿制药销量,则上涨明显。</span></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-size: 15px;font-family: " yahei="">这多少让BMS有点心塞。</span></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-size: 15px;font-family: " yahei="">几家欢喜几家忧,“老对头”默沙东也于2022年10月27日公布第三季度业绩。</span></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-size: 15px;font-family: " yahei="">财报显示,第三季度总销售收入为149.59亿美元,同比增长14%。预计全年全球销售额约为585- 590亿美元之间,同比增长20%-21%。</span></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><img class="rich_pages wxw-img" data-backh="343" data-backw="578" data-ratio="0.5933806146572104" src="https://zfz-oss.oss-cn-hangzhou.aliyuncs.com/temp/7cb62c239b122fe5dfa64c715848f57a.png" data-type="png" data-w="1269" style="width: 100%;height: auto;"/></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-size: 15px;font-family: " yahei="">作为默沙东的主要营收点,Keytruda(K药)Q3销售额为54亿美元,同比增长20%;GARDASIL/GARDASIL 9(HPV疫苗)销售额为23亿美元,同比增长15%。</span></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-size: 15px;font-family: " yahei="">虽然新冠口服药LAGEVRIO受辉瑞Paxlovid影响,销售额暴跌,2022Q1本为32.47亿美元、Q3却已经跌到4.36亿美元。但上观K药瞩目的数据,K药有望取代修美乐,成为全球最畅销的下一代“药王”。</span></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-size: 15px;font-family: " yahei="">如今,“OK”竞技已过8个年头。从起初BMS凭借先发优势率先占领市场,到后来在非小细胞肺癌上受挫,K药借机反超。经典反映了医药市场中 “得适应症者得天下”的游戏规则。</span></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-size: 15px;font-family: " yahei=""><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">目前</span><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">,K药获批适应症数量已近O药</span><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">2倍。</span>O药好像已经折戟沉沙,在适应症的数量上被默沙东远远甩开。</span></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-size: 15px;font-family: " yahei="">K药后来者居上,O药却没发挥好先发优势,原因为何?</span></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: 2em;"><br/></section><p style="margin-top: 0px;margin-bottom: 16px;line-height: 1.5em;"><em><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">参考资料:</span></em></p><section style="margin-top: 0px;margin-bottom: 16px;line-height: normal;"><em><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">1.默沙东官网</span></em></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: normal;"><em><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">2.BMS官网</span></em></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: normal;"><em><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">3.智慧芽官网</span></em></section><section style="margin-top: 0px;margin-bottom: 16px;line-height: normal;"><em><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">4.仿制药冲击来袭,BMS来那度胺百亿辉煌不再,创新产品持续发力(网易)</span></em></section><h1 style="margin-top: 0px;margin-bottom: 16px;line-height: normal;"><em><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">5.默沙东Q3销售额同比增长14%超预期 新冠口服药销售额4.36亿美元(新浪财经)</span></em></h1><h1 style="margin-top: 0px;margin-bottom: 16px;line-height: normal;"><em><span arial="" gb="" helvetica="" neue="" sans="" sans-serif="" style="font-family: " yahei="">6.其他公开资料</span></em></h1><p arial="" gb="" helvetica="" neue="" normal="" rgb="" sans="" 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