香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 翰森製藥集團有限公司 （於開曼群島註冊成立的有限公司） Hansoh Pharmaceutical Group Company Limited 香港，二零二六年三月二十三日 於本公告日期，董事會成員包括主席兼執行董事鍾慧娟女士、執行董事孫遠女士 及呂愛鋒博士；以及獨立非執行董事林國強先生、陳尚偉先生、楊東濤女士及嚴 嘉先生。 翰森製藥集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事會（「董 事會」）欣然宣佈，本集團自主研發的1類新藥HS-20152注射液獲中國國家藥品監 督管理局(NMPA)簽發的藥物臨床試驗批准通知書，擬開展用於陣發性睡眠性血 紅蛋白尿症的臨床試驗。 承董事會命 翰森製藥集團有限公司 主席 鍾慧娟 （股份代號：3692） 自願公告 HS-20152注射液獲國家藥品監督管理局 簽發的藥物臨床試驗批准通知書 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Hansoh Pharmaceutical Group Company Limited 翰森製藥集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3692） 自願公告 HS-10587片獲國家藥品監督管理局 簽發的藥物臨床試驗批准通知書 翰森製藥集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事會（「董 事會」）欣然宣佈，本集團自主研發的1類新藥HS-10587片獲中國國家藥品監督管 理局(NMPA)簽發的藥物臨床試驗批准通知書，擬開展用於MTAP缺失的晚期實體 瘤的臨床試驗。 承董事會命 翰森製藥集團有限公司 主席 鍾慧娟 香港，二零二六年三月二十三日 於本公告日期，董事會成員包括主席兼執行董事鍾慧娟女士、執行董事孫遠女士 及呂愛鋒博士；以及獨立非執行董事林國強先生、陳尚偉先生、楊東濤女士及嚴 嘉先生。 ...

S1130525060003 gantanhuan gjzq.com.cn 投资逻辑 受国际石油价格持续上涨及海外能源成本较高的影响，各类化工产品普遍迎来明显涨价，其中溶剂类产品由于其较难 囤货，市场报价持续走高，成为本轮化工品涨价中弹性最显著的品类之一，也直接带动医药中间体、原料药等下游行 业成本抬升。受到上游原材料成本提升影响，下游原料药产品或将迎来提价契机。从供给端看，由于原料药行业在 2020- 2022 年集中扩产，预计供给压力仍然存在，价格有望缓慢传导。从需求端看，下游客户自 23 年 4 月去库存，目前客 户库存水平已长时间处于较低位置。原料药价格已在低位运行较长时间，客户库存水平较低，一旦提价后预计会有较 好持续性，后续可关注价格提升带来的利润弹性。 药品：3 月 20 日，诺华宣布以 20 亿美元预付款及最高 10 亿美元里程碑付款，收购 Synnovation Therapeutics 旗下 泛突变选择性 PI3Kα抑制剂 SNV4818 及相关项目组合，强化 PI3Kα靶点差异化布局，聚焦突变选择性抑制剂在 HR+/HER2-乳腺癌领域的联用潜力，国内建议关注和黄医药 PI3K-ATTC ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Hansoh Pharmaceutical Group Company Limited 翰森製藥集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3692） 承董事會命 翰森製藥集團有限公司 主席 鍾慧娟 香港，二零二六年三月十八日 於本公告日期，董事會成員包括主席兼執行董事鍾慧娟女士、執行董事孫遠女士 及呂愛鋒博士；以及獨立非執行董事林國強先生、陳尚偉先生、楊東濤女士及嚴 嘉先生。 董事會召開日期 翰森製藥集團有限公司（「本公司」）董事會（「董事會」）茲通告謹定於二零二六年 三月二十九日（星期日）舉行董事會會議，藉以（其中包括）考慮及通過本公司及其 附屬公司截至二零二五年十二月三十一日止年度全年業績及建議末期股息（如有） 以及處理其他事項。 ...

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The global biopharmaceutical industry is experiencing a surge in capital market activities, with significant collaborations and financing deals, including a $1.18 billion global rights authorization for a dual antibody by Deqi Pharmaceuticals and a $1.53 billion exclusive license agreement between China National Pharmaceutical Group and Sanofi [4][10] - Clinical advancements are notable in metabolic, oncology, and immunology fields, with Roche's Fenebrutinib showing a 51% reduction in annual relapse rate for multiple sclerosis and promising results from various drugs targeting obesity and cancer [5][8] - The industry is witnessing a strategic shift towards accelerated capitalization and upgraded R&D models, with companies focusing on core technology platform development and AI-driven drug discovery becoming a trend [5][10] Summary by Sections Global Biopharmaceutical Industry Dynamics - The capital market is seeing dense collaboration and financing activities, with multiple companies securing significant funding and partnerships [4] - Notable financing events include Candid's $505 million merger for NASDAQ listing and various companies completing rounds of financing exceeding hundreds of millions [10][11] Major Events in the Global Biopharmaceutical Industry - Deqi Pharmaceuticals authorized global rights for its CD3/CD19 dual antibody, potentially earning up to $1.18 billion [6] - Clinical data from Hansoh Pharmaceutical's obesity treatment showed a 19.3% average weight reduction in a Phase III trial, indicating strong efficacy [6][8] - China National Pharmaceutical Group's exclusive licensing deal with Sanofi for a JAK/ROCK inhibitor could yield up to $1.53 billion [6] Important Clinical Developments/Results - Roche's Fenebrutinib demonstrated a 51% reduction in annual relapse rate for multiple sclerosis in Phase III trials [8] - Kanfang Biologics' Cardonili achieved a 100% overall survival rate at 24 months in cervical cancer patients during Phase II trials [8] - Petrelintide, also from Roche, showed a 10.7% average weight loss in obese patients over 42 weeks in Phase II trials [8] Important Financing and Transaction Events - The report highlights multiple significant financing and strategic collaboration events, including a $400 million strategic financing for Teva Pharmaceuticals and various companies completing substantial funding rounds [10][11] - Five and Boao's IPO application in Hong Kong and other companies securing large investments indicate a trend towards increased capital influx in the biopharmaceutical sector [11][12]

Group 1 - The core viewpoint of the news highlights the recent downturn in the Asia-Pacific market, particularly in the Hong Kong pharmaceutical sector, with the Hong Kong Stock Connect Innovation Drug ETF (159570) experiencing a nearly 2% decline, despite a significant net subscription of 210 million yuan and a total scale exceeding 23.1 billion yuan [1][3] - The high-level meeting has officially categorized innovative drugs as an "emerging pillar industry," emphasizing the acceleration of commercial health insurance development and the promotion of high-quality development in innovative drugs [3] - The approval of Hansoh Pharmaceutical's application for the listing of Amivantamab tablets marks a significant milestone, as it is the first domestically developed third-generation EGFR-TKI in China, with five approved indications since its initial approval in March 2020 [3] Group 2 - In business development news, China Biologic Products announced an exclusive licensing agreement with Sanofi for Rovafatinib, a novel oral small molecule JAK/ROCK inhibitor, with potential payments totaling up to 1.53 billion USD, including an upfront payment of 135 million USD [4] - The Hong Kong Stock Connect Innovation Drug ETF (159570) saw most of its index's popular stocks decline, with notable drops including 5% for 3SBio and over 4% for CanSino Biologics, while Hansoh Pharmaceutical saw a slight increase due to new drug news [4] - The innovative drug sector is experiencing short-term volatility, but the long-term growth potential remains intact, with a focus on the globalization of Chinese pharmaceutical companies and the advancement of innovative technologies [6][9] Group 3 - The focus of the market has shifted from the ability to enter overseas markets to the progress of products in overseas clinical deployments, with key data readouts and milestone achievements becoming critical for future evaluations [7] - Chinese companies are making breakthroughs in frontier technologies such as small nucleic acids and cell therapies, positioning themselves as core assets in global transactions [8] - Leading innovative drug companies are entering a positive cycle of product commercialization and reinvestment in research and development, with expectations for significant performance improvements in the upcoming earnings period [9]

2026.03. 08 作者 | 第一财经 林志吟 今年的政府工作报告，首度将生物医药从作为新兴产业培育升级为新兴支柱产业培育，这背后折射出 的是中国生物制药行业正步入一个更加成熟的阶段，逐渐成为全球医药创新的策源地之一。 生物医药属于技术密集、资本密集、高壁垒、长周期行业。当前，中国本土的生物医药圈，虽然以男 性掌门人居多，但一些女性领导力量已打破性别壁垒，在行业中闯出一片天地。 一片天地 港股的药品及生物技术板块聚焦不少前沿技术的生物技术企业。该板块共有163家企业，据第一财经 记者统计，由女性执掌的企业数量大概在16家，其实占比不到10%。即使是这样，依旧不影响女性 领导者们在行业中的突出表现。 胡润研究院今年3月份发布的财富Top 20中国企业家（财富计算的截止日期为2026年1月15日）中， 翰森制药（03692.HK）钟慧娟、孙远母女上榜，位列第二十名位置，母女俩的财富增长也是榜单中 增幅最多的。 胡润研究院表示，创新药领域快速增长，翰森的钟慧娟财富增长超过一倍，达到1600亿元人民币。 在胡润研究院2025年10月发布的《2025胡润女企业家榜》中，钟慧娟一度晋升成为中国女首富，彼 时是榜单史上 ...

整理 | GLP1减重宝典内容团队 翰森制药近日宣布其首款减重药物——奥莱泊肽（olatorepatide，HS-20094），在中国超重或肥胖成人受试者中开展的首个Ⅲ期临床研究 （HS-20094-301）达成了主要终点。 这项随机、双盲、安慰剂对照的研究在中国33个临床中心开展，入组了604名成年受试者，旨在评估每周一次奥莱泊肽治疗48周的疗效与安全 性。研究结果显示，奥莱泊肽组受试者在48周时体重降幅较基线的变化与安慰剂组相比，具有显著统计学差异，且达到5%体重降幅的受试者比 例显著更高。 研究结果亮点： 体重降幅：奥莱泊肽组受试者在治疗48周后，体重较基线的平均降幅最高达19.3%。 体重降幅≥5%：达到5%体重降幅的受试者比例最高达97.2%。 胃肠道耐受性：奥莱泊肽治疗组的胃肠道不良事件发生率及治疗停药率较低，与现有的GLP-1相关双激动剂类药物Ⅲ期试验数据相比表现优 异。 加入专家库与我们深度讨论 奥莱泊肽的特点与应用： 奥莱泊肽是一款每周一次皮下注射的GLP-1/GIP受体双激动剂，可以调节与食欲控制、葡萄糖代谢及能量平衡相关的代谢通路。目前，奥莱泊 肽正在中国开展III期临床研究，用于治疗肥 ...

Group 1 - FTSE Russell announced the new candidate stocks for the FTSE China 50 Index, which include China Aluminum (601600)(02600), China Duty Free Group (601888)(01880), Hansoh Pharmaceutical (03692), Shandong Gold (600547)(01787), and Sanhua Intelligent Control (002050)(02050) [1] - The quarterly review changes for the FTSE China Index Series were announced, with adjustments effective after the market close on March 20, 2026 [2] - The FTSE China 50 Index will include New China Life Insurance (601336)(01336) and Weichai Power (000338)(02338), while excluding Minsheng Bank (600016)(01988) and ZTE Corporation (000063)(00763) [2]

Core Viewpoint - Lung cancer is the most common malignant tumor globally, accounting for approximately 18.7% of all cancer-related deaths. The article discusses the potential of B7-H3-targeted antibody-drug conjugates (ADCs) in treating lung cancer, particularly focusing on the drug HS-20093 developed by Hansoh Pharmaceutical, which has shown promising results in clinical trials [2][5]. Group 1: Drug Development and Mechanism - HS-20093 is an ADC targeting B7-H3, utilizing a cleavable linker to couple a fully human monoclonal antibody with a topoisomerase I inhibitor, achieving an average drug-antibody ratio (DAR) of 4 [5]. - B7-H3 is highly expressed in non-small cell lung cancer (NSCLC) and small cell lung cancer (SCLC), making it an ideal target for ADC development [2]. Group 2: Clinical Trial Results - The ARTEMIS-001 trial evaluated HS-20093 in 306 previously treated patients with advanced solid tumors, determining a maximum tolerated dose of 12.0 mg/kg in phase 1a [6]. - Among 236 lung cancer patients receiving doses of 8.0 or 10.0 mg/kg, the confirmed objective response rate was 52.3% for extensive-stage SCLC (N = 65) and 22.4% for NSCLC (N = 152) [6]. - The most common treatment-related adverse events included neutropenia (25.5% vs 50.5%), leukopenia (19.7% vs 42.4%), and anemia (16.8% vs 34.3%) [6]. Group 3: Safety and Efficacy - HS-20093 demonstrated good antitumor activity in lung cancer patients, with a low serum exposure of the effective payload indicating high stability in vivo [12]. - The safety profile of HS-20093 was controllable, with treatment-related interstitial lung disease and fatal adverse events occurring at rates of 3.4% and 3.8%, respectively [6].