---
title: "《大行》里昂：信达生物与武田制药合作对推进产品研发正面  目标价升至 120.1 元"
description: "里昂发布研究报告指出，信达生物与武田制药达成全球战略合作，共同开发新一代 IO 基石疗法 IBI363，并授权合作 IBI343 及 IBI3001。此合作对信达的全球布局及产品开发进展正面，尤其推动 IBI363 的发展。里昂将信达生物 2026 财年销售额及净利润预测上调 48.5% 及 172%，目标价从 111.4 元升至 120.1 元，维持「跑赢大市」评级。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/262340325.md"
published_at: "2025-10-23T03:03:34.000Z"
---

# 《大行》里昂：信达生物与武田制药合作对推进产品研发正面  目标价升至 120.1 元

> 里昂发布研究报告指出，信达生物与武田制药达成全球战略合作，共同开发新一代 IO 基石疗法 IBI363，并授权合作 IBI343 及 IBI3001。此合作对信达的全球布局及产品开发进展正面，尤其推动 IBI363 的发展。里昂将信达生物 2026 财年销售额及净利润预测上调 48.5% 及 172%，目标价从 111.4 元升至 120.1 元，维持「跑赢大市」评级。

里昂发表研究报告指，信达生物 (01801.HK) 与日本武田制药 (4502.JP) 宣布达成全球战略合作，双方将全球范围内共同开发新一代 IO 基石疗法 IBI363，并就在研项目 IBI343 及 IBI3001 达成授权合作。里昂认为此合作对於信达的全球化布局及产品开发进展属正面，尤其可推动核心项目 IBI363 发展。

IBI363 已於今年 8 月获美国 FDA 批准，开展用於治疗鳞状非小细胞肺癌的三期临床试验。里昂认为，双方计划在美国共同商业化 IBI363，有助释放市场价值，看好武田拥有强大的美国商业专营权，在该市场经验丰富。

计入是次合作的影响，里昂将信达生物 2026 财年销售额及净利润预测上调 48.5% 及 172%，2027 财年净利预测上调 1.5%，目标价从 111.4 元上调至 120.1 元，维持「跑赢大市」评级。

### Related Stocks

- [01801.HK - 信达生物](https://longbridge.com/zh-CN/quote/01801.HK.md)

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