Core Viewpoint - The announcement highlights the transfer of marketing authorization for the drug Lactulose Oral Solution from Anhui Meilai Pharmaceutical Co., Ltd. to Guoyao Zhijun (Pingshan) Pharmaceutical Co., Ltd., a subsidiary of China National Pharmaceutical Group Modern [1] Group 1 - Guoyao Zhijun (Pingshan) Pharmaceutical Co., Ltd. has signed a contract with Anhui Meilai for the transfer of marketing authorization for Lactulose Oral Solution (15ml: 10g) [1]

Core Viewpoint - Shanghai Modern Pharmaceutical Co., Ltd. announced the acquisition of the marketing authorization for Lactulose Oral Solution from Anhui Meilai Pharmaceutical Co., Ltd. for 5.86 million yuan, aimed at enriching its chronic disease treatment product line and aligning with its mid-to-long-term development strategy [1][2]. Transaction Overview - The transaction involves the complete marketing authorization rights for Lactulose Oral Solution (15ml:10g), including global production, sales, and intellectual property rights. Anhui Meilai is required to transfer all technical documentation and assist in the approval process for the change of the marketing authorization holder and production site [2]. - The transaction does not require approval from the company's board or shareholders and is not classified as a related party transaction [2]. Market Outlook for the Product - Lactulose is used primarily as an osmotic laxative for treating chronic functional constipation and has prebiotic effects that help regulate gut flora. The product is projected to achieve sales of 2.069 billion yuan in public medical institutions and retail markets by 2024, indicating significant market potential [3]. - The product specification (15ml:10g) received approval from the National Medical Products Administration on January 8, 2025, and is currently produced by Anhui Yongshengtang Pharmaceutical [3]. Parties Involved - **Transferor**: Anhui Meilai Pharmaceutical Co., Ltd., established in December 2021 with a registered capital of 25.3655 million yuan, engages in drug production, import/export, and technology transfer. The company has no affiliation with Shanghai Modern and is capable of fulfilling its contractual obligations [4]. - **Transferee**: Guoyao Group Zhijun (Shenzhen) Pingshan Pharmaceutical Co., Ltd., a core subsidiary of Shanghai Modern, established in July 1990 with a registered capital of 50 million yuan, possesses production capabilities for various dosage forms and has established industrial capabilities in anti-infection and digestive drugs [5]. Key Contract Terms - The transfer payment of 5.86 million yuan will be made in installments based on the progress of the contract. The transferee will hold product rights from the first payment date and can independently change the production site. The transferor must not produce or sell the product before the authorization change is completed and is liable for the authenticity and completeness of the technical documentation [6]. - Breach of contract terms stipulate that if the transferor causes process validation failures or data authenticity issues, the transferee can terminate the contract and demand a full refund and compensation for losses. Unauthorized sales by the transferor will incur penalties and liability for all direct and indirect losses [6]. Impact on Company Operations - The acquisition aligns with the company's strategy in the chronic disease sector and enhances its digestive drug pipeline, although it is not expected to significantly impact current operating performance. The company acknowledges that the approval processes for changing the marketing authorization holder and increasing production sites may take time and involve uncertainties [7]. - Following the completion of the transaction, the transferee will gain full industrial rights for Lactulose Oral Solution, and with its existing production capabilities, it is expected to quickly realize product commercialization. Analysts believe that if effectively integrated into the company's sales network, this product could become a new growth driver for the company [7].

Core Viewpoint - The announcement by China National Pharmaceutical Group Modern (国药现代) regarding the transfer of drug marketing authorization for lactulose oral solution from Anhui Meilai to its subsidiary, Guoyao Zhijun Ping Shan, aligns with the company's long-term strategic development plan and aims to enhance its product pipeline in chronic disease treatment [1] Group 1 - The total transfer fee for the drug marketing authorization is RMB 5.86 million [1] - Lactulose is an osmotic laxative primarily used for treating chronic functional constipation and also serves as a prebiotic to regulate gut microbiota [1] - The acquisition of the lactulose oral solution marketing authorization is expected to strengthen Guoyao Zhijun Ping Shan's market competitiveness without significantly impacting the company's current operating performance [1]

证券代码：600420 证券简称：国药现代 公告编号：2025-087 上海现代制药股份有限公司 关于控股子公司签署《药品上市许可转让合同》的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 近日，上海现代制药股份有限公司（以下简称公司）控股子公司国药集 团致君（坪山）制药有限公司（以下简称国药致君坪山）与安徽美来药业股份有 限公司（以下简称安徽美来）签署了《药品上市许可转让合同》，安徽美来将其 产品乳果糖口服溶液（15ml:10g）上市许可转让予国药致君坪山。 上述合同的签署对公司当期经营业绩不构成重大影响。 一、交易概述 为贯彻落实公司中长期发展战略，丰富公司产品管线，控股子公司国药致君 坪山与安徽美来签署了《药品上市许可转让合同》，安徽美来将其产品乳果糖口 服溶液（15ml:10g）药品上市许可转让予国药致君坪山，转让费总计人民币 586.00 万元。 根据上海证券交易所《股票上市规则》及《公司章程》规定，上述事项无需 提交公司董事会、股东会审议。本次交易不属于关联交易。 二、交易各方的基本情况 （一 ...

Core Viewpoint - China National Pharmaceutical Group Modern (国药现代) has signed a drug listing license transfer agreement with Anhui Meilai, aiming to enhance its product pipeline and implement its mid-to-long-term development strategy [1] Group 1 - The agreement involves the transfer of the drug listing license for Lactulose Oral Solution (15ml:10g) from Anhui Meilai to China National Pharmaceutical Group Modern's subsidiary, Guoyao Zhijun Ping Shan [1] - The total transfer fee for the drug listing license is RMB 5.86 million [1]

Core Viewpoint - The announcement indicates that China National Pharmaceutical Group's subsidiary, Guoyao Zhijun (Pingshan) Pharmaceutical Co., Ltd., has signed a drug listing license transfer contract with Anhui Meilai Pharmaceutical Co., Ltd. for the product Lactulose Oral Solution, which will enhance the company's product line in chronic disease treatment and strengthen its market competitiveness [1] Summary by Relevant Categories Transaction Details - The total transfer fee for the drug listing license is RMB 5.86 million [1] - The product involved in the transfer is Lactulose Oral Solution (15ml:10g) [1] Strategic Implications - The transaction aligns with the company's strategic development plan [1] - It is expected to enrich the company's product line for chronic disease treatment [1] - The deal is anticipated to enhance the market competitiveness of Guoyao Zhijun Pingshan [1] Financial Impact - The transaction will not have a significant impact on the company's current operating performance [1]

Core Points - The company announced the completion of the transfer of 51% equity in Shanghai Modern Harsen (Shangqiu) Pharmaceutical Co., Ltd. to Henan Yangsen Pharmaceutical Group Co., Ltd. for a price of 109.68 million yuan [1] - The company has received the full payment for the equity transfer and has completed the necessary industrial and commercial registration changes [1] - Following the transfer, the company no longer holds any equity in Shanghai Modern Harsen and has no form of association, control, or substantial management relationship with it [1]

证券代码：600420 证券简称：国药现代 公告编号：2025-086 上海现代制药股份有限公司 特此公告。 关于公开挂牌转让控股子公司股权进展暨完成工商变更的 公告 上海现代制药股份有限公司董事会 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 截止目前，公司已收到本次股权转让的全部价款。2025 年 10 月 30 日，公 司收到国药哈森转来的《内资企业基本注册信息》，显示国药哈森已完成了上述 股权转让的相关工商变更登记手续。本次股权转让完成后，公司不再持有国药哈 森股权，与国药哈森之间不存在任何形式的关联关系、控制关系或实质性管理关 系。 三、对公司的影响 本次股权转让事项将对公司 2025 年度财务报表产生一定影响，根据公司内 部初步测算数据，预计合并报表层面公司将增加投资收益约 4,451.54 万元。该数 据未经审计，最终以审计机构年度审计确认后的结果为准。敬请广大投资者审慎 决策，注意投资风险。 一、基本情况 上海现代制药股份有限公司（以下简称公司）于 2025 年 10 月 18 日披露了 《关于公开挂牌转让控 ...

Core Viewpoint - The company reported a significant decline in both revenue and net profit for the first three quarters of 2025 compared to the previous year [1] Financial Performance - Total operating revenue for the first three quarters of 2025 was 6.92 billion, a year-on-year decrease of 19.47% [1] - Net profit attributable to shareholders was 801 million, reflecting a year-on-year decline of 16.07% [1] - Basic earnings per share stood at 0.5974 yuan [1]

Core Viewpoint - The financial performance of Guoyao Modern in Q3 2025 shows significant declines in both revenue and net profit compared to the same period last year [1] Financial Performance Summary - In Q3 2025, the company achieved a revenue of 2.043 billion yuan, representing a year-on-year decrease of 22.43% [1] - The net profit attributable to shareholders for Q3 2025 was 129 million yuan, down 45.31% year-on-year [1] - For the first three quarters of 2025, the total revenue reached 6.92 billion yuan, reflecting a year-on-year decline of 19.47% [1] - The net profit attributable to shareholders for the first three quarters was 801 million yuan, which is a decrease of 16.07% compared to the previous year [1]