BD成药企业绩增长新引擎，涉及先声药业、三生国健、荣昌生物等

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随着全球医药产业的迭代升级，中国创新药企如先声药业、三生国健和荣昌生物等正通过BD（业务发展）交易加速业绩增长。2025年，预计中国药企对外授权/许可/合作BD项目数量将达到165项，显著增加首付款与总金额。先声药业预计2025年收入约77-78亿元，同比增长16.0%-17.6%，主要得益于创新药收入和对外授权许可收入的增加。该公司已实现多个自研创新药项目的海外授权，潜在交易总金额累计超过46...

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