智通财经获悉，1月22日，由中欧基金葛兰与赵磊共同管理的中欧医疗健康混合披露2025年四季报。截至2025年12 月末，葛兰旗下在管基金总规模由去年三季度末的435.44亿元降至353.89亿元。目前，葛兰在管3只公募基金，分 别是中欧医疗健康、中欧医疗创新、中欧明睿新起点混合，其中规模最大的产品是中欧医疗健康。报告期内，中 欧医疗健康混合基金A类份额净值增长率为-14.81%，同期业绩比较基准收益率为-8.21%；基金C 类份额净值增长 率为-14.98%，同期业绩比较基准收益率为-8.21%。 持仓方面，中欧医疗健康的前十大重仓股依次为：药明康德(603259.SH)、恒瑞医药(600276.SH)、康龙化成 (300759.SZ)、泰格医药(300347.SZ)、百利天恒(688506.SH)、凯莱英(002821.SZ)、信立泰(002294.SZ)、海思科 (002653.SZ)、科伦药业(002422.SZ)、百济神州-U(688235.SH)。其中，海思科、泰格医药获增持，科伦药业、信立 泰等多只个股遭减仓。 | | | ○ 中欧医疗健康混合A 2025年4季度股票投资明细 | | | | | ...

1月22日，由中欧基金葛兰与赵磊共同管理的中欧医疗健康混合披露2025年四季报。截至2025年12月末，葛兰旗下 在管基金总规模由去年三季度末的435.44亿元降至353.89亿元。目前，葛兰在管3只公募基金，分别是中欧医疗健 康、中欧医疗创新、中欧明睿新起点混合，其中规模最大的产品是中欧医疗健康。报告期内，中欧医疗健康混合 基金A类份额净值增长率为-14.81%，同期业绩比较基准收益率为-8.21%；基金C 类份额净值增长率为-14.98%，同 期业绩比较基准收益率为-8.21%。 持仓方面，中欧医疗健康的前十大重仓股依次为：药明康德(603259.SH)、恒瑞医药(600276.SH)、康龙化成 (300759.SZ)、泰格医药(300347.SZ)、百利天恒(688506.SH)、凯莱英(002821.SZ)、信立泰(002294.SZ)、海思科 (002653.SZ)、科伦药业(002422.SZ)、百济神州-U(688235.SH)。其中，海思科、泰格医药获增持，科伦药业、信立 泰等多只个股遭减仓。 | | | ○ 中欧医疗健康混合A 2025年4季度股票投资明细 | | | | | 来源:天天基金 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 公司于近日获悉，公司2026年度第一期科技创新债券于2026年1月19日发行，募集资金已于2026年1月20 日全额到账。 本期中期票据通过簿记建档集中配售的方式在全国银行间债券市场公开发行。现将发行结果公告如下： ■ 本期中期票据募集资金用途为偿还存量负债及补充流动资金。经查询，截至本公告日，公司不是失信责 任主体。 证券代码：002422 证券简称：科伦药业 公告编号：2026-006 四川科伦药业股份有限公司 2026年度第一期科技创新债券发行结果的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导性陈述或重大遗漏。 四川科伦药业股份有限公司（以下简称"公司"）《关于公司发行非金融企业债务融资工具的议案》已于 2025年4月22日经公司第八届董事会第六次会议审议通过，并于2025年5月19日经公司2024年年度股东大 会审议批准。相关董事会和股东大会决议公告详见2025年4月24日和2025年5月20日的《证券时报》、 《上海证券报》、《证券日报》和《中国证券报》以及公司指定信息披露网站巨潮资讯网 （http://www.cn ...

2026年度第一期科技创新债券发行结果的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导性 陈述或重大遗漏。 四川科伦药业股份有限公司（以下简称"公司"）《关于公司发行非金融 企业债务融资工具的议案》已于2025年4月22日经公司第八届董事会第六次会议 审议通过，并于2025年5月19日经公司2024年年度股东大会审议批准。相关董事 会和股东大会决议公告详见2025年4月24日和2025年5月20日的《证券时报》、 《上海证券报》、《证券日报》和《中国证券报》以及公司指定信息披露网站 巨潮资讯网（http://www.cninfo.com.cn）。 公司于2025年9月18日收到中国银行间市场交易商协会（以下简称"交易商 协会"）于2025年9月16日下发的《接受注册通知书》（以下简称《通知书》） （中市协注〔2025〕MTN904号），交易商协会同意接受公司中期票据注册， 中期票据注册额度为人民币30亿元，注册额度自《通知书》落款之日起2年内有 效。 公司于近日获悉，公司2026年度第一期科技创新债券于2026年1月19日发行， 募集资金已于2026年1月20日全额到账。 证券 ...

Investment Rating - The report maintains an "Outperform" rating for several companies, including Jiangsu Heng Rui Medicine, Hansoh Pharmaceutical Group, 3SBio, Sichuan Kelun Pharmaceutical, and Jiangsu Nhwa Pharmaceutical [6][7]. Core Insights - The annual J.P. Morgan Healthcare Conference concluded successfully, with positive information from global pharmaceutical companies, including new pipeline disclosures and major deals. The report highlights the high prosperity in the innovative drug sector and recommends continuous investment in innovative drugs and the industry chain [25][26]. - The A-Shares pharmaceutical sector underperformed the market in the third week of January 2026, with the Shanghai Composite Index falling by 0.4% and the SW Pharmaceutical and Biological sector declining by 0.7% [8][27]. - The Hong Kong stock pharmaceutical sector performed in line with the market, while the U.S. pharmaceutical sector underperformed. The Hang Seng Healthcare index increased by 2.4%, and the S&P 500 Healthcare Select Sector decreased by 1.1% [28]. Summary by Sections Section 1: Continuous Recommendation of Innovative Drugs and Industry Chain - The report emphasizes the high prosperity of innovative drugs and maintains overweight ratings for key pharmaceutical companies. It also recommends Biopharma/Biotech companies with promising pipelines and volume increases, as well as CXO and upstream companies benefiting from innovation [6][25]. Section 2: A-Shares Pharmaceutical Sector Performance - In the third week of January 2026, the A-Shares pharmaceutical sector's performance was ranked 17th among Shenwan primary industries, with a decline of 0.7%. The medical service sub-sector showed a positive performance of +3.3% [8][12][27]. Section 3: Hong Kong and U.S. Pharmaceutical Sector Performance - The Hong Kong pharmaceutical sector performed similarly to the market, while the U.S. sector underperformed. Notable gainers in the U.S. included MODERNA (+22%) and QUEST DIAGNOSTICS (+9%), while major decliners included BIOGEN (-12%) and BOSTON SCIENTIFIC (-10%) [28].

Group 1 - The company has reported that it is currently selling its ergotamine products through various platforms, including WeChat Mini Programs, Tmall, and JD.com [2] - The company has developed a strategic plan for the health and wellness sector and is making steady progress in its implementation [2]

Group 1 - The company has started selling its ergotamine series products through various platforms including WeChat Mini Program, Tmall, and JD.com [1] - The company has developed a corresponding plan for the development of the health sector and is currently making steady progress [1]

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical sector [6][26]. Core Insights - The report emphasizes the continuous recommendation of innovative pharmaceuticals and medical devices, highlighting the high growth potential in the sector. It maintains "Overweight" ratings for companies such as Heng Rui Medicine, Hansoh Pharmaceutical, Sanofi, Kelun Pharmaceutical, and Enhua Pharmaceutical. It also recommends Biopharma/Biotech companies like Kelun Biotech, BeiGene, and others, as well as CXO and upstream pharmaceutical companies [6][3]. Summary by Sections 1. Continuous Recommendation of Innovative Pharmaceuticals and Medical Devices - The report highlights the high growth potential of innovative drugs and recommends several companies for investment, including Heng Rui Medicine, Hansoh Pharmaceutical, Sanofi, Kelun Pharmaceutical, and Enhua Pharmaceutical. It also suggests Biopharma/Biotech companies like Kelun Biotech, BeiGene, and others, as well as CXO and upstream pharmaceutical companies [6][7]. 2. A-share Pharmaceutical Sector Performance - In the third week of January 2026, the A-share pharmaceutical sector underperformed the broader market, with the Shanghai Composite Index declining by 0.4% and the SW Pharmaceutical and Biotech index falling by 0.7% [8][11]. 3. Hong Kong and US Market Performance - The Hong Kong pharmaceutical sector performed in line with the market, while the US pharmaceutical sector underperformed. In the same week, the Hang Seng Healthcare index rose by 2.4%, and the S&P 500 healthcare sector fell by 1.1% [19][20].

Summary of Sichuan Kelun Pharmaceutical FY Conference Company Overview - **Company Name**: Kelun-Biotech - **Industry**: Biopharmaceuticals - **Focus Areas**: Oncology, immunology, metabolism, and other therapeutic areas - **Shareholders**: Kelun Pharmaceutical (largest), MSD (second largest and major collaborator) [2][3] Pipeline and Product Development - **Pipeline Programs**: Over 30 programs, including: - 4 approved products with 7 indications - 2 products at NDA stage - Over 10 programs in clinical development - **Employee Count**: Approximately 2,000, with 900 in R&D, 500 in manufacturing and quality control, and 500 in sales and marketing [3][4] - **Key Products**: - TROP2 ADC (sac-TMT): Approved for three indications in China, including lung cancer and breast cancer - HER2-ADC (trastuzumab botidotec): Approved for HER2-positive breast cancer - Cetuximab: Approved for RAS wild-type colorectal cancer - PD-L1 for nasopharyngeal carcinoma (NPC) [4][5][11] Clinical Studies and Approvals - **Clinical Studies**: Initiated five pivotal studies for breast cancer, six for lung cancer, and one for gastrointestinal cancer [5] - **Expected Approvals**: Anticipation of more product approvals and label expansions in 2026, including a small molecule RET inhibitor [3][6] - **Global Studies**: MSD is initiating 16 global phase three studies for various cancers [9] Market Position and Strategy - **National Reimbursement Drug List (NRDL)**: Three core products included in NRDL 2025, effective January 2026 [7] - **Commercialization Strategy**: Full-fledged commercialization team established with access to Class III hospitals and key opinion leaders [6] - **Partnerships**: Collaborations with MSD, Ellipses, Wonderworld Bio, and Keratin Bio to enhance pipeline value and global market reach [7][8] Innovation and Future Plans - **OptiDC Platform**: Focus on optimized drug conjugate technology, with plans to expand into non-oncology areas [12][15] - **Research Focus**: Development of novel payloads, linkers, and ADC designs, including bispecific antibodies and non-toxin-based drug conjugates [14][15] - **Growth Plans**: Prioritizing differentiated pipeline programs, expanding drug development and commercialization capabilities, and enhancing global partnerships [15][16] Key Performance Metrics - **Efficacy Data**: - TROP2 ADC demonstrated significant improvements in progression-free survival (PFS) and overall survival (OS) in clinical trials [10] - HER2-ADC showed improved PFS and overall response rate (ORR) compared to T-DM1 [11] This summary encapsulates the key points from the conference, highlighting the company's strategic focus, product pipeline, clinical advancements, and future growth plans.

Core Viewpoint - The report highlights the growth trends in China's chemical pharmaceutical raw materials industry, indicating a steady increase in production and market dynamics from 2025 to 2032 [1] Industry Summary - In November 2025, China's chemical pharmaceutical raw material production reached 331,000 tons, reflecting a year-on-year growth of 1.5% [1] - From January to November 2025, the cumulative production of chemical pharmaceutical raw materials in China was 3,358,000 tons, with a cumulative growth of 1.8% [1] - The report by Zhiyan Consulting provides insights into the supply and demand dynamics of the chemical pharmaceutical industry in China, projecting future trends from 2026 to 2032 [1] Company Summary - Listed companies in the sector include Heng Rui Medicine, East China Pharmaceutical, Lizhu Group, Baiyunshan, North China Pharmaceutical, Haizheng Pharmaceutical, Fosun Pharmaceutical, Kelun Pharmaceutical, Enhua Pharmaceutical, and Xianju Pharmaceutical [1]