海外医药2019年报总结1：公司业绩梳理研发费用率大幅提升，药企聚焦中国市场分析师：朱国广执业证号：S1250513070001电话：021-68413530邮箱：zhugg@swsc.com.cn西南证券研究发展中心2020年3月1收入YOY%调整后净利润YOY%EPS收入YOY%调整后净利润YOY%净利率EPSPEPSJNJ强生美元207.01.750.3-6.41.88821.00.6233.14.528%5.633528390210.6%144.613.8%1/22ROG罗氏瑞士法郎154.06.0614.79.0180.617.029%20.162460291718.6%154.420.8%1/30MRK美国默克美元118.78.029.88.01.16468.411.0133.815.029%5.19217622834.9%164.521.1%2/5PFE辉瑞美元126.9-9.031.1-17.00.55517.5-4.0167.3-4.032%2.951987222411.9%144.517.0%1/28NVS诺华美元124.08.029.911.01.32474.56.0121.011.026%5.281961217210.8%174.319.8%1/29BMY百时美施贵宝美元79.533.023.753.91.22261.516.080.423.331%4.69830158190.5%163.722.5%2/6NVO诺和诺德丹麦克朗324.29.087.23.03.671220.09.0389.51.032%16.381210144619.5%237.611.7%2/5AMGN安进美元62.0-1.021.7-1.03.64233.6-2.090.3-6.039%14.821173140719.9%155.518.1%1/30LLY礼来美元61.18.015.826.01.73223.24.055.76.025%6.04990136037.4%195.725.1%1/30AZN阿斯利康美元62.58.011.6-42.40.89235.712.045.64.019%3.501133132617.0%244.825.7%2/14ABBV艾伯维美元87.04.832.815.52.21332.71.6133.213.040%8.941104129016.8%93.719.0%2/7SNY赛诺菲欧元96.16.816.823.51.34361.34.874.99.821%5.991130124910.5%143.016.7%2/6GSK葛兰素史克英镑89.09.012.3-20.024.80337.510.061.34.018%123.91037120015.7%152.513.5%2/5BAYZF拜尔欧元107.53.812.723.11.29435.518.562.919.314%6.4063881728.1%101.612.0%2/27GILD吉利德美元58.81.516.5-11.71.30224.51.584.7-3.038%6.637928031.4%93.617.0%2/4BIIB百健美元36.74.014.96.08.34143.87.062.917.044%33.5741352025.9%93.715.9%1/30REGN再生元美元21.713.08.69.07.5078.617.028.38.036%24.6731039427.1%144.738.6%2/6合计1587348-61241706------加权-平均9322-36010028%-1345158222%154.320%-【西南医药|海外研究】海外龙头药企2019年报2019Q42019FY2020E亿美元亿美元【备注】以上信息来源于公司公告、Bloomberg、YahooFinance【团队成员】朱国广/陈进/刘闯/李秋颖/李强，TEL：15727357216证券代码证券简称（亿）币种5.2%1%6.1%7.5%市值(亿美元)2019年10月8日市值(亿美元)2020年1月24日期间股价涨...
