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信达生物产品销售毛利率
信达生物产品销售毛利率
行业数据
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所属报告：
中国肿瘤创新药行业：行业发展关键问题及公司竞争现状分析-220727（292页）.pdf
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图10.2024–2025公司主营业务分产品毛利率对比（%）
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2026-07-21
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图11.2023Q1-2026Q1各季度公司毛利率、净利率（%）
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2026-07-21
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南旋控股、申洲国际、晶苑国际毛利率情况
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行业数据
2026-07-21
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图4.2011-2026Q1公司毛利率及净利率（%）
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行业数据
2026-07-21
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全球主要燃机主机厂销售毛利率呈现提升态势
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行业数据
2026-07-20
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乘用车企业分季度毛利率（%）及同环比变化（pct）
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行业数据
2026-07-20
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2025财年SpaceX综合毛利率49%
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行业数据
2026-07-20
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乘用车企业分季度毛利率（%）
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行业数据
2026-07-20
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戈碧迦分产品毛利率（单位：%）
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行业数据
2026-07-20
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力诺药包分产品毛利率（单位：%）
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行业数据
2026-07-20
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旗滨集团分产品毛利率（单位：%）
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行业数据
2026-07-20
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彩虹股份分产品毛利率（单位：%）
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行业数据
2026-07-20
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蓝思科技分产品毛利率（单位：%）
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行业数据
2026-07-20
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凯盛科技分产品毛利率（单位：%）
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2026-07-20
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京东方分产品毛利率（单位：%）
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2026-07-20
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此外，我们认为医保局主导下的定价环境并不会对产品利润率产生显著的长期负面影响。信迪利单抗于 2020 年 1 月进入医保目录后，产品销售毛利率仅在 1H20 出现了小幅下滑（但仍在 80%左右），此后通过生产工艺改进和产品放量后的规模经济效益，毛利率回升到了 85%以上。海外开发肿瘤创新药的成熟生物科技公司一般拥有 85%以上的毛利率和 45%以上的营业利润率。虽然中国药品定价普遍低于美国，但成本和费用也更低；药企的重要开支之一研发费用主要由员工薪酬和临床试验相关费用构成，而根据各家公司数据，中国药企的研发人员平均薪酬（每年 3-7 万美元 vs. 美国 10 万美元左右，2021 年）和临床试验成本（平均每位受试者 4-7 万美元 vs. 美国12-18 万美元，2021 年）均显著低于美国药企。因此，我们不认为更低的药价会带来更低的利润率。
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