Big Biopharma Trails Behind The Market: JP Morgan's 2025 Outlook on Eli Lilly, Merck, and More
Big Biopharma Trails Behind The Market: JP Morgan's 2025 Outlook on Eli Lilly, Merck, and More
According to JP Morgan, U.S. large-cap biopharma stocks have underperformed the broader market for two consecutive years, with mixed sentiment shaping investor outlook for 2025.
根據摩根大通的說法，美國大型生物製藥股票在連續兩年中表現不佳，市場情緒對2025年的投資者展望產生了混合影響。
Despite strong fundamentals and advancements in drug pipelines, factors such as political uncertainty and sector rotation have hindered the sector's performance relative to the S&P 500.
儘管基本面強勁、藥物管線不斷進展，但政治不確定性和板塊輪動等因素抑制了該板塊相對於S&P 500的表現。
In 2024, biopharma stocks rose by 9.6%, falling short of the S&P 500's 28.5% surge. However, JP Morgan analysts maintain a positive outlook for several key players.
在2024年，生物製藥股票上漲了9.6%，未能趕上S&P 500的28.5%的強勁增長。然而，摩根大通的分析師對幾家關鍵企業仍持積極展望。
Eli Lilly And Co. (NYSE:LLY), a top pick for the firm, is projected to see continued growth in its diabetes and obesity treatments, Mounjaro and Zepbound. The analyst also pointed to the company's robust pipeline and forecasted double-digit revenue and earnings growth into the 2030s.
禮來（紐交所：LLY）是該公司的首選，預計其糖尿病和肥胖症治療藥物Mounjaro和Zepbound將繼續增長。分析師還指出，該公司的強大管線預計在2030年代將實現雙位數的營業收入和利潤增長。
Bristol-Myers Squibb (NYSE:BMY) has been added to JP Morgan's Analyst Focus List due to the strong potential of its schizophrenia drug, Cobenfy, which could achieve peak sales of $10 billion.
施貴寶（紐交所：BMY）由於其精神分裂症藥物Cobenfy的強大潛力而被納入摩根大通的分析師關注名單，該藥物可能實現100億的峯值銷售額。
Similarly, Merck & Co. (NYSE:MRK) and Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) are expected to recover in 2025, following challenges in 2024 related to competitive pressures and regional dynamics affecting key products.
同樣，默沙東（紐交所：MRK）和再生元製藥公司（納斯達克：REGN）預計將在2025年恢復，儘管在2024年面臨競爭壓力和區域型動態影響關鍵產品的挑戰。
Gilead Sciences Inc. (NASDAQ:GILD) is poised for growth with the anticipated mid-2025 launch of lenacapavir for HIV prevention.
吉利德科學公司（納斯達克：GILD）因其預計在2025年中期推出的用於HIV預防的lenacapavir而有望實現增長。
The firm also highlighted AbbVie Inc. (NYSE:ABBV) for its appealing valuation, supported by strong Skyrizi and Rinvoq sales despite fewer near-term pipeline developments.
該公司還強調了艾伯維公司（紐交所：ABBV）的吸引估值，儘管短期內管線發展較少，但其Skyrizi和Rinvoq的銷售表現強勁。
Animal health stocks are also projected to rebound in 2025. JP Morgan views Zoetis Inc. (NYSE:ZTS) as the strongest pick in the sector, citing its potential for high single-digit revenue growth and margin expansion. IDEXX Laboratories, Inc. (NASDAQ:IDXX) is another solid choice, though its performance depends on a recovery in veterinary visits. Meanwhile, Elanco Animal Health Inc. (NYSE:ELAN) faces uncertainties linked to its new product launches.
動物健康股票預計將在2025年反彈。摩根大通認爲Zoetis Inc.（紐交所：ZTS）是該板塊中最強的選擇，指出其有潛力實現高單位數的營業收入增長和利潤擴展。IDEXX Laboratories, Inc.（納斯達克：IDXX）是另一個不錯的選擇，儘管其表現依賴於獸醫訪問的恢復。與此同時，Elanco Animal Health Inc.（紐交所：ELAN）面臨着與新產品推出相關的不確定性。
Specialty pharmaceuticals showed early signs of stabilization in 2024, benefiting from improved pricing stability and supply dynamics. Perrigo Plc (NYSE:PRGO) and Viatris Inc. (NASDAQ:VTRS) are highlighted as promising opportunities, while Teva Pharmaceuticals Industries Ltd (NYSE:TEVA) may face growth challenges despite delivering strong clinical trial results this year.
特種藥在2024年顯示出早期穩定的跡象，受益於改善的價格穩定性和供應動態。百利高（紐交所：PRGO）和Viatris Inc.（納斯達克：VTRS）被認爲是有前景的機會，而Teva Pharmaceuticals Industries Ltd（紐交所：TEVA）可能面臨增長挑戰，儘管今年提供了強有力的臨牀試驗結果。
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譯文內容由第三人軟體翻譯。
