消息面上，药明合联和东曜药业两家ADC领域CDMO公司宣布，药明合联发出现金收购要约，以4港元/ 股价格控股收购东曜药业。据公告，相较东曜药业上一交易日收盘价2.01港元/股溢价约99%。该要约总 估值约31亿港元，要约最高代价约为27.9亿港元。 收购完成后，药明合联计划维持东曜药业上市地位，这也表明其战略意图并非私有化套利，而是战略性 控股整合，保留东曜药业作为独立运营实体，继续服务现有客户。 智通财经APP获悉，东曜药业-B(01875)再涨超11%，截至发稿，涨10.74%，报4.64港元，成交额2585.58 万港元。 ...

Core Viewpoint - WuXi Biologics announced a conditional cash offer to acquire Easton Biopharma, aiming to enhance its capabilities in the ADC and bioconjugate drug sectors, thereby accelerating its market position and operational efficiency [1][3][5]. Group 1: Acquisition Details - WuXi Biologics' subsidiary, WuXi AppTec, will acquire all issued shares of Easton Biopharma at a price of HKD 4.00 per share, representing a premium of approximately 99% over the undisturbed closing price and about 114.67% over the average closing price of the last 30 trading days [3]. - The total equity value of the transaction is approximately HKD 30.91 billion, based on the total number of shares issued by Easton Biopharma [3]. - Key shareholders, including major firms like Chengwei Evergreen Capital, have committed to accept the offer, ensuring that WuXi Biologics can secure at least 60% of the voting rights necessary for the deal to proceed [3][4]. Group 2: Strategic Implications - The acquisition allows WuXi AppTec to bypass the typical 3-5 year timeline required for building new production facilities, thus rapidly converting design capacity into actual delivery capabilities [2][5]. - This strategic move is expected to position WuXi AppTec advantageously in the competitive landscape of the ADC and bioconjugate drug CDMO industry, enabling it to meet the surging demand for high-quality production [5][7]. - Post-acquisition, Easton Biopharma will remain listed on the Hong Kong Stock Exchange and will be integrated into WuXi Biologics' operations without immediate changes to its management or workforce [4]. Group 3: Market Context - The ADC market is experiencing significant growth, with projections indicating a market size of approximately USD 17.2 billion by 2025 and a compound annual growth rate (CAGR) of 30.6% from 2023 to 2032 [7]. - The global ADC outsourcing services market is expected to reach USD 11 billion by 2030, with a CAGR of 28.4% from 2022 to 2030, highlighting the increasing demand for CDMO services [7]. - WuXi AppTec's acquisition is seen as a strategic response to the rapid expansion of clinical pipelines and commercialization in the ADC sector, positioning the company for future growth and competitive advantage [6][8].

Core Viewpoint - As of January 15, a total of 105 stocks reached their 52-week highs, with notable performers including 德莱建业 (01546), 东曜药业－Ｂ (01875), and 大森控股 (01580) achieving high rates of 78.00%, 51.36%, and 37.61% respectively [1]. Summary by Category 52-Week Highs - 德莱建业 (01546) closed at 0.355, with a peak of 0.445, marking a high rate of 78.00% [1]. - 东曜药业－Ｂ (01875) closed at 4.190, reaching a high of 4.450, with a high rate of 51.36% [1]. - 大森控股 (01580) closed at 0.275, with a peak of 0.300, achieving a high rate of 37.61% [1]. - 顺兴集团控股 (01637) and 怡园酒业 (08146) also showed significant increases, with high rates of 36.36% and 24.74% respectively [1]. Additional Notable Stocks - JBB BUILDERS (01903) reached a high rate of 24.12% with a closing price of 2.830 [1]. - 天臣控股 (01201) and 江苏创新 (02116) had high rates of 15.38% and 15.00% respectively [1]. - 万国黄金集团 (03939) and 竣球控股 (01481) also performed well, with high rates of 12.95% and 12.44% respectively [1]. 52-Week Lows - The report also noted stocks reaching 52-week lows, with 天彩控股 (03882) showing a low rate of -14.42% [3]. - 中国智慧能源 (01004) and 基石控股 (01592) followed with low rates of -13.64% and -12.86% respectively [3]. - 弘毅文化集团－旧 (02990) and 中原建业 (09982) also reported significant declines of -9.09% and -6.06% respectively [3].

Core Viewpoint - WuXi AppTec (药明合联) announced a proposed acquisition of Easton Biopharma (东曜药业) at a premium of approximately 99%, with the offer price set at 4 HKD per share, aiming to secure at least 60% voting rights in Easton [2][3]. Group 1: Acquisition Details - The acquisition is expected to cost WuXi AppTec up to 2.79 billion HKD [3]. - Both WuXi AppTec and Easton Biopharma operate in the Contract Research Organization (CRO) sector, focusing on Antibody-Drug Conjugates (ADC) manufacturing [3]. - Easton Biopharma transitioned to an ADC contract manufacturing enterprise starting in 2020 [3]. Group 2: Business Performance - WuXi AppTec's business encompasses the entire supply chain for ADCs, including research and production services, and is projected to see revenue growth exceeding 45% year-on-year by 2025 [4]. - Easton Biopharma is expected to achieve its first annual profit of 34.76 million HKD in 2024, but is projected to incur losses again in the first three quarters of 2025 [5]. Group 3: Strategic Rationale - The acquisition aims to address capacity supply constraints faced by WuXi AppTec, as the company is experiencing rapid order growth that outpaces its current production capabilities [6]. - WuXi AppTec's CEO indicated that establishing a new ADC factory takes approximately three years, making the timing of this acquisition strategically advantageous [6]. Group 4: Market Position and Future Plans - WuXi AppTec holds a global market share of over 24% based on projected 2025 revenues, with a long-term growth target of a compound annual growth rate (CAGR) of 30%-35% from 2025 to 2030 [6]. - The company plans to invest over 7 billion RMB in capacity expansion for ADCs, formulations, and linkers from 2026 to 2029, significantly outpacing industry averages [6].

Core Viewpoint - The article discusses the recent acquisition activities in the pharmaceutical sector, particularly focusing on WuXi AppTec's proposed acquisition of Easton Biopharma, highlighting the strategic motivations behind the deal and the growth potential in the ADC (Antibody-Drug Conjugate) market [3][4]. Group 1: Acquisition Details - WuXi AppTec announced a proposed acquisition of Easton Biopharma at a premium of approximately 99%, with an offer price of 4 HKD per share, aiming to secure at least 60% voting rights [3][4]. - The total expenditure for this acquisition could reach up to 2.79 billion HKD [4]. Group 2: Company Profiles - WuXi AppTec and Easton Biopharma are both involved in the CXO (Contract Research Organization) sector, focusing on ADC manufacturing [4]. - Easton Biopharma transitioned from a biotechnology company to an ADC contract manufacturing enterprise starting in 2020 [4]. Group 3: Market Context and Growth Potential - The ADC market is expanding, which is driving growth in the contract manufacturing sector due to the complex nature of ADC production [4]. - WuXi AppTec's business encompasses the entire ADC production chain, from drug discovery to commercial production, and it is positioned as a leading player in this field [6]. Group 4: Financial Performance and Projections - WuXi AppTec has experienced significant growth, with projected revenue growth exceeding 45% year-on-year by 2025 [6]. - Easton Biopharma achieved its first annual profit of 34.76 million CNY in 2024 but faced losses again in the first three quarters of 2025 [7]. Group 5: Strategic Goals - WuXi AppTec aims for a global market share exceeding 24% by 2025, with a long-term growth target of a compound annual growth rate (CAGR) of 30%-35% from 2025 to 2030 [7]. - The company plans to invest over 7 billion CNY in capacity expansion for ADC and related facilities from 2026 to 2029, significantly outpacing industry averages [8].

Group 1 - The core event is the acquisition of Dongyao Pharmaceutical by WuXi AppTec, with a premium offer of approximately 99% at HKD 4 per share, aiming for a total expenditure of up to HKD 2.79 billion [1][3] - WuXi AppTec and Dongyao Pharmaceutical are both involved in the Contract Research Organization (CRO) sector, specifically focusing on Antibody-Drug Conjugates (ADC) manufacturing [1][3] - WuXi AppTec's CEO stated that the acquisition aims to address capacity supply constraints due to rapid order growth, as establishing an ADC factory takes about three years [3][4] Group 2 - WuXi AppTec's business encompasses the entire industry chain of ADC, including research and production services, with projected revenue growth exceeding 45% year-on-year by 2025 [3] - Dongyao Pharmaceutical is expected to achieve its first annual profit of HKD 34.76 million in 2024, but is projected to incur losses again in the first three quarters of 2025 [3] - WuXi AppTec plans to invest over HKD 7 billion from 2026 to 2029 for the expansion of facilities related to conjugates, formulations, and linkers, significantly outpacing industry average growth rates [4]

责任编辑：卢昱君 东曜药业-B（01875）复牌后大幅高开，截至发稿，股价上涨58.80%，报3.97港元，成交额112.11万港 元。 东曜药业与药明合联（02268）联合公布，药明合联提出自愿要约收购东曜药业全部股份，每股现金价4 港元，较股份停牌前收盘价2.01港元溢价约99.00%。要约的最高代价约为27.9亿港元。要约人拟于完成 后维持股份于联交所上市。 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 东曜药业与药明合联（02268）联合公布，药明合联提出自愿要约收购东曜药业全部股份，每股现金价4 港元，较股份停牌前收盘价2.01港元溢价约99.00%。要约的最高代价约为27.9亿港元。要约人拟于完成 后维持股份于联交所上市。 责任编辑：卢昱君 东曜药业-B（01875）复牌后大幅高开，截至发稿，股价上涨58.80%，报3.97港元，成交额112.11万港 元。 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 ...

智通财经APP获悉，东曜药业-B(01875)复牌后大幅高开，截至发稿，涨58.8%，报3.97港元，成交额 112.11万港元。 消息面上，东曜药业与药明合联(02268)联合公布，药明合联提出自愿要约收购东曜药业全部股份，每 股现金价4港元，较股份停牌前收盘价2.01港元溢价约99.00%。要约的最高代价约为27.9亿港元。要约 人拟于完成后维持股份于联交所上市。 ...

东曜药业-B(01875)发布公告，公司股份将于2026年1月15日上午9时正起恢复买卖。 ...

格隆汇1月15日丨东曜药业-B(01875.HK)发布公告，该公司的股份将于今天(15/1/2026)上午九时正起恢 复买卖。 ...