消息面上，绿叶制药公布，其全资附属Luye Geneora向独立第三方Bluebell Asset发行4.75厘可交换优先 股，涉资约1.5亿美元，可按认购协议所载条款交换为最高约1亿股博安生物股份（600201），所得款项 将用作集团一般营运资金用途。若全部兑换，博安生物将不再为公司的附属公司。 绿叶生物附属发行可交换优先股。截至发稿，绿叶生物(02186)跌3.58%，报2.96港元；博安生物(06955) 跌2.92%，报10.63港元。 ...

消息面上，绿叶制药公布，其全资附属Luye Geneora向独立第三方Bluebell Asset发行4.75厘可交换优先 股，涉资约1.5亿美元，可按认购协议所载条款交换为最高约1亿股博安生物股份，所得款项将用作集团 一般营运资金用途。若全部兑换，博安生物将不再为公司的附属公司。 智通财经APP获悉，绿叶生物附属发行可交换优先股。截至发稿，绿叶生物(02186)跌3.58%，报2.96港 元；博安生物(06955)跌2.92%，报10.63港元。 ...

于可交换优先股附带的交换权获悉数行使后(假设博安生物的已发行股本自本公告日期起直至获悉数行 使当日并无变动)，博安生物将不再为公司的附属公司。公司已同意担保发行人履行其在认购协议项下 的义务。于本公告日期，集团(透过附属公司)持有约3.61亿股博安生物股份，占博安生物已发行股本约 57.94%。 董事认为，发行可交换优先股将为公司提供即时获得现金资金的途径，同时保持战略灵活性。交换机制 使公司于博安生物的投资能够在较长时间内，凭藉交换价中内含的溢价，以高于当前市场水平的价格有 序、系统地货币化。这种方法支持把握时机、循序渐进的价值实现，与通常以折扣价进行的大批量处置 相比，预计将带来更好的结果。认购事项所得款项将用作集团一般营运资金用途。 格隆汇11月21日丨绿叶制药(02186.HK)发布公告，2025年11月21日，发行人(即Luye Geneora Holding Limited，公司的全资附属公司)、公司与认购人(即Bluebell Asset Holding Ltd.)订立认购协议，在符合认 购协议所载先决条件的规限下，认购人同意认购，且发行人同意配发及发行150万股可交换优先股，总 认购价为1.5 ...

Group 1 - The core viewpoint of the news highlights the strong performance of the Hong Kong Stock Connect Innovative Drug ETF, which has gained 1.2% with a trading volume of 351 million yuan and a total fund size of 2.079 billion yuan as of November 10 [1] - Key performing stocks within the ETF include InnoCare Pharma-B, Bionet, and Ascletis Pharma, with respective gains of 5.4%, 4.43%, and 4.37% [1] - Conversely, stocks such as Kangzhe Pharmaceutical, MIRXES-B, and Innovent Biologics showed weaker performance, with declines of 1.28%, 0.94%, and 0.65% respectively [1] Group 2 - The innovative drug sector is identified as the largest investment opportunity in the pharmaceutical sector for 2025, with a focus on dual/multi-target drugs, chronic disease medications addressing unmet clinical needs, and ADCs [2] - There is a noted improvement in domestic and international innovative drug financing data, with an upward trend in CXO industry orders, indicating a potential recovery in valuations and performance [2] - The medical device sector is experiencing accelerated approvals for innovative products, such as the approval of the chest and abdominal aortic stent system by Xianjian Technology, which is expected to enhance long-term profit margins [2] Group 3 - The Hong Kong Stock Connect Innovative Drug ETF and its linked funds passively track the Hang Seng Hong Kong Stock Connect Innovative Drug Select Index, with the top ten weighted stocks including BeiGene, China Biologic Products, and Innovent Biologics [3]

Core Viewpoint - The company, 博安生物, has seen a stock increase of over 4% following the acceptance of its marketing authorization applications for two monoclonal antibody injections in the UK, indicating positive market sentiment and potential growth opportunities [1] Group 1: Product Development - 博安生物's BA6101 (60mg) and BA1102 (120mg) are key products in its global development strategy, targeting orthopedic and oncology fields respectively [1] - The company plans to submit marketing applications for these products to major international regulatory bodies including EMA, FDA, and PMDA [1] Group 2: Market Potential - There is a significant global market potential for 地舒单抗, with projected combined sales of Prolia and Xgeva reaching approximately $6.6 billion in 2024 [1] - The company has established a comprehensive quality management system that meets international standards to support the global commercialization of its products [1]

Core Viewpoint - The company, Boan Biotech (06955), has seen its stock rise over 4% following the acceptance of its marketing authorization applications for two monoclonal antibody injections in the UK, indicating positive market sentiment and potential growth opportunities in the orthopedic and oncology sectors [1] Group 1: Product Development - Boan Biotech announced that its self-developed monoclonal antibody injections, BA6101 (60mg) for orthopedics and BA1102 (120mg) for oncology, have received acceptance from the UK Medicines and Healthcare products Regulatory Agency (MHRA) for marketing authorization [1] - The company considers BA6101 and BA1102 as core products in its global development strategy and plans to submit applications to other international regulatory bodies, including the European Medicines Agency (EMA), the U.S. Food and Drug Administration (FDA), and the Pharmaceuticals and Medical Devices Agency (PMDA) in Japan [1] Group 2: Market Potential - There is a broad market outlook for the monoclonal antibody, denosumab, due to extensive clinical demand and significant clinical value, with global sales for Prolia and Xgeva projected to reach approximately $6.6 billion in 2024 [1] - To support its global commercialization goals, the company has established a comprehensive quality management system that meets international standards in China, Europe, the United States, and Japan, ensuring quality assurance for denosumab and future biopharmaceuticals [1]

Core Viewpoint - The company has received acceptance for its marketing authorization applications for two monoclonal antibody injection products in the UK, indicating progress in its product pipeline and potential market expansion [1] Group 1: Product Development - The company has developed BA6101, a 60mg injection for orthopedic applications, and BA1102, a 120mg injection for oncology applications [1] - The acceptance of the marketing authorization applications by the UK Medicines and Healthcare products Regulatory Agency marks a significant milestone for the company's product offerings [1]

Core Insights - The company has received acceptance for its marketing authorization applications for BA6101 and BA1102 in the UK, targeting the orthopedic and oncology fields respectively [1][2] Group 1: Product Details - BA6101 is a biosimilar to Prolia® and was approved in China in 2022, receiving positive feedback from doctors and patients during its clinical application [1] - BA1102 is a biosimilar to Xgeva® and is set to be approved in China in 2024 [2] Group 2: Indications and Applications - BA6101 aims to treat osteoporosis in postmenopausal women and high-risk men, significantly reducing the risk of vertebral, non-vertebral, and hip fractures [1] - BA1102 is intended for preventing skeletal-related events in adults with advanced malignancies and treating patients with giant cell tumors of bone [2] Group 3: Global Strategy and Market Potential - The company is pursuing international clinical and registration efforts for both products, planning submissions to EMA, FDA, and PMDA [2] - The global market for denosumab is promising, with projected combined sales of Prolia® and Xgeva® reaching approximately $6.6 billion in 2024 [2] - The company has established a quality management system compliant with international standards to support the global commercialization of denosumab and future biopharmaceuticals [2]

Core Viewpoint - The company has received acceptance for its marketing authorization applications for BA6101 and BA1102 in the UK, indicating a significant step in its global expansion strategy in the biopharmaceutical sector [1][2] Group 1: Product Information - BA6101 is a biosimilar to Prolia, approved in China in 2022, targeting osteoporosis treatment in postmenopausal women and men at high risk of fractures, as well as bone loss in prostate cancer patients undergoing hormone therapy [1] - BA1102 is a biosimilar to Xgeva, approved in China in 2024, aimed at preventing bone-related events in adults with advanced malignancies and treating patients with giant cell tumors of bone [2] Group 2: Market Potential - The global market for denosumab, represented by Prolia and Xgeva, is projected to reach approximately $6.6 billion in sales by 2024, highlighting the substantial commercial opportunity for the company's products [2] - The company is actively pursuing international clinical trials and regulatory submissions for BA6101 and BA1102 in various regions, including the EMA, FDA, and PMDA, to support its global commercialization goals [2] Group 3: Quality Assurance - The company has established a comprehensive quality management system that meets international standards to ensure the successful international launch of denosumab and future biopharmaceuticals [2]

Core Viewpoint - The company has received acceptance for its marketing authorization applications for BA6101 and BA1102 in the UK, indicating a significant step in expanding its product portfolio in the international market [1][2]. Group 1: Product Information - BA6101 is a biosimilar to Prolia, approved in China in 2022, and is aimed at treating osteoporosis in postmenopausal women and men at high risk of fractures, as well as bone loss in prostate cancer patients undergoing hormone therapy [1]. - BA1102 is a biosimilar to Xgeva, approved in China in 2024, targeting the prevention of skeletal-related events in adults with advanced malignancies and the treatment of giant cell tumors of bone [2]. Group 2: Market Potential - The global market for denosumab, represented by Prolia and Xgeva, is projected to generate approximately $6.6 billion in sales in 2024, highlighting the substantial commercial opportunity for the company's products [2]. - The company is actively pursuing international clinical trials and regulatory submissions for BA6101 and BA1102 to enhance their global market presence, including applications to EMA, FDA, and PMDA [2]. Group 3: Quality Assurance - The company has established a comprehensive quality management system that meets international standards to support the successful commercialization of denosumab and future biopharmaceuticals [2].