（编辑 任世碧） 证券日报网讯 12月18日，佐力药业在互动平台回答投资者提问时表示，随着全国中成药采购联盟集采 全面落地执行，百令系列明年有望通过以价换量的方式，实现销售额的持续增长，未来公司力争把百令 系列打造成10亿元规模的大品种。 ...

记者丨朱艺艺 编辑丨季媛媛 一纸公告，揭开了两家上市药企的专利纷争。 华东医药公告摘录 这场诉讼的核心，直指华东医药曾经的独家重磅品种——年销售额曾突破30亿元的百令胶囊，而发酵冬 虫夏草菌粉即为百令胶囊的核心原料。 不过，随着2024年1月，佐力药业的百令胶囊以同名同方药获批，华东医药一直独占百令胶囊的局面被 打破，在百令系列领域，两家公司几乎"二分天下"。 对于该案进展，12月16日，华东医药相关人士告诉21世纪经济报道记者，公司将向最高人民法院提起上 诉，至于本次涉案金额增加，"增加部分为中美华东新增维权合理开支费用"。 同日，佐力药业相关人士则向21世纪经济报道记者回应，"公司始终尊重知识产权，控股子公司珠峰药 业取得百令片药品注册批件及生产、销售百令片的行为符合国家法律法规的规定，对于华东医药后续再 上诉，我们会积极面对，也有信心胜诉"。 华东医药一审败诉 两家上市药企对簿公堂，核心纷争是发酵冬虫夏草菌粉及其制剂百令片的发明专利权归属。 早在2024年1月，华东医药全资子公司中美华东一纸诉状，将佐力药业控股子公司珠峰药业、青海珠峰 冬虫夏草原料有限公司（简称"珠峰原料"）、杭州华东武林大药房有限公司 ...

21世纪传媒 · 公众号矩阵成员。 记者丨朱艺艺 编辑丨季媛媛 一纸公告，揭开了两家上市药企的专利纷争。 以下文章来源于21新健康 ，作者朱艺艺 21新健康 . 华东医药公告摘录 这场诉讼的核心，直指华东医药曾经的独家重磅品种—— 年销售额曾突破30亿元的百令胶 囊，而发酵冬虫夏草菌粉即为百令胶囊的核心原料。 不过，随着2024年1月，佐力药业的百令胶囊以同名同方药获批，华东医药一直独占百令胶囊 的局面被打破，在百令系列领域，两家公司几乎"二分天下"。 对于该案进展，12月16日，华东医药相关人士告诉21世纪经济报道记者， 公司将向最高人民 法院提起上诉 ，至于本次涉案金额增加，"增加部分为中美华东新增维权合理开支费用"。 同日，佐力药业相关人士则向21世纪经济报道记者回应，"公司始终尊重知识产权，控股子公 司珠峰药业取得百令片药品注册批件及生产、销售百令片的行为符合国家法律法规的规定， 对于华东医药后续再上诉，我们会积极面对，也有信心胜诉"。 华东医药一审败诉 双方各执一词，该案在2023年12月25日被浙江省高院正式受理，此后分别在2024年4月、6 月 两次公开开庭，最新涉案金额1.1139亿元，较首次 ...

Core Viewpoint - The article discusses recent developments in the pharmaceutical industry, particularly focusing on the acquisition of a multi-trace element injection asset group by Zhaoli Pharmaceutical, which is expected to enhance its product portfolio and market position [4][5][6]. Group 1: Legal and Financial Developments - Zhaoli Pharmaceutical's subsidiary, Qinghai Zhuofeng Pharmaceutical, won a lawsuit against Huadong Pharmaceutical, with the court dismissing all claims from Huadong and ordering it to bear the legal costs of 598,732 yuan [4]. - Zhaoli Pharmaceutical signed an agreement to acquire a multi-trace element injection asset group for a total price of 356 million yuan, which includes both marketed and in-development products [5]. Group 2: Product and Market Insights - The acquired products, including "Multi-trace Element Injection (I)" and "Multi-trace Element Injection (II)," are classified as Category B drugs under national medical insurance and have been recommended in various clinical guidelines, indicating their efficacy and safety [6]. - The market for multi-trace element injections is projected to reach approximately 1.8 billion yuan by 2024, with stable growth in sales volumes for both products from 2020 to 2024, showing a compound annual growth rate of 12.44% for Injection (I) and 35.58% for Injection (II) [7]. Group 3: Financial Projections and Competitive Landscape - The asset group is expected to generate a net profit of approximately 60 million yuan for the full year of 2025, enhancing Zhaoli Pharmaceutical's profitability [8]. - The acquisition is valued at about 6 times the price-to-earnings ratio, indicating a favorable cost-benefit ratio, and the payment will be made in stages to alleviate cash flow pressure [8].

围绕一款上亿销售额的中成药大单品专利权，两家上市药企的官司有了新进展。 12月14日，华东医药股份有限公司（华东医药，000963）公告称，全资子公司杭州中美华东制药有限公 司（以下简称"中美华东"）于近日收到浙江省高级人民法院送达的《民事判决书》。作为原告，一审判 决驳回中美华东的全部诉讼请求，案件受理费59.8732万元，由中美华东负担。 根据公告，该诉讼涉案金额为1.1亿元，对于这个结果，华东医药在14日的公告中称，将依法向中华人 民共和国最高人民法院提起上诉。 一审判决 结果 来源：华东医药公告 华东医药作为原告发起的诉讼可以追溯至2023年底。彼时，中美华东将青海珠峰冬虫夏草原料有限公司 （简称"珠峰原料"）、青海珠峰冬虫夏草药业有限公司（简称"珠峰药业"）、杭州华东武林大药房有限 公司（简称"武林大药房"）诉至浙江省高级人民法院。 在三个被告中，珠峰药业是浙江佐力药业股份有限公司（佐力药业，300181）的控股子公司，而武林大 药房是华东医药100%控股公司。当时业内有人调侃："华东医药将自己告上了法庭。" 从公开信息来看，华东医药争的是百令系列中成药的专利权。 华东医药拥有百令胶囊这款产品，公开 ...

Core Viewpoint - Zhaoli Pharmaceutical is acquiring a multi-element injection asset group from Future Pharmaceutical, focusing on enhancing its product structure and marketing synergy in the field of parenteral nutrition [11][12][46]. Acquisition Details - The asset group includes already listed types I and II, and the in-review type III injection, focusing on trace element supplementation for parenteral nutrition. The net profit for the first nine months of this year was 45.79 million yuan, indicating good profitability [2][37]. - The acquisition will be paid in cash in phases and will not affect the company's stable dividend strategy [4][38]. Synergy and Market Outlook - The integration of sales channels is expected, with Zhaoli covering over 15,000 hospitals and Future Pharmaceutical covering over 1,000 specialized hospitals. This will enhance academic promotion systems and leverage Zhaoli's experience in centralized procurement to penetrate grassroots markets [2][37]. - The market for multi-element injections is projected to reach approximately 1.8 billion yuan in 2024, with continued growth expected, particularly in pediatric and adult critical nutrition support [12][46]. Production and R&D - Current production capacity can meet demand for the next 2-3 years, but new factory construction is planned for future expansion. The "Wuling + X" R&D project will focus on digestive systems, male health, and the broader health sector, expanding the Wuling product line [2][37]. Sales Forecast - Wuling capsules are expected to maintain steady growth due to their essential medicine status, with a focus on grassroots medical institutions and strengthening OTC and online channels [3][37]. - The Bailing series is anticipated to achieve a scale of 1 billion yuan by 2026, benefiting from nationwide centralized procurement [3][38]. Financial Projections - The company forecasts net profits of 667 million yuan, 842 million yuan, and 1.067 billion yuan for 2025, 2026, and 2027 respectively, with corresponding EPS of 0.95, 1.20, and 1.52 yuan per share [11][48].

一纸公告，揭开了两家上市药企的专利纷争。 12月15日，上市药企华东医药（000963.SZ）公告称，全资子公司杭州中美华东制药有限公司(简称"中美华东")收到浙江省高级人民法院（简称"浙江省高 院"）《民事判决书》((2023) 浙知民初3号)，围绕其与佐力药业（300181.SZ）控股子公司青海珠峰冬虫夏草药业有限公司（简称"珠峰药业"）关于发酵冬虫 夏草菌粉的发明专利权纠纷，在经过2024年4月、6月的两次公开开庭后，法院驳回了中美华东的全部诉讼请求，该案涉案金额约1.1139亿元(较首次披露暂 计金额增加10600元)。 这场诉讼的核心，直指华东医药曾经的独家重磅品种——年销售额曾突破30亿元的百令胶囊，而发酵冬虫夏草菌粉即为百令胶囊的核心原料。 两家上市药企对簿公堂，核心纷争是发酵冬虫夏草菌粉及其制剂百令片的发明专利权归属。 早在2024年1月，华东医药全资子公司中美华东一纸诉状，将佐力药业控股子公司珠峰药业、青海珠峰冬虫夏草原料有限公司（简称"珠峰原料"）、杭州华 东武林大药房有限公司（简称"华东药房"）告上了浙江省高院，认为三位被告侵犯了其发酵冬虫夏草菌粉的发明专利权，要求其停止侵权行为，并赔偿 ...

开源证券研报指出，佐力药业拟收购未来医药资产组丰富产品结构，营销协同发展。公司与西藏未来及 其两家全资子公司许昌未来和合肥未来签署了《多种微量元素注射液资产组收购协议书》，拟以总价 （含税）人民币3.56亿元收购其多种微量元素注射液资产组。公司拟收购未来医药多种微量元素注射液 资产组，有助于优化公司产品结构，拓宽疾病治疗领域；同时公司有着集采和基药产品的市场优势，可 充分发挥"多科室、重循证"的临床推广经验，与多种微量元素注射液产品组合实现协同发展。据公司公 告，多种微量元素注射液是肠外营养中微量元素的主要来源，2024年多种微量元素注射液整体市场规模 达到约18亿元。外延并购打开成长空间，维持"买入"评级。 ...

Group 1 - The core viewpoint of the article highlights the target price increases for several listed companies as of December 15, with notable gains in the pharmaceutical and automation sectors [1][5]. - The companies with the highest target price increases include Zejing Pharmaceutical at 35.00%, Zoli Pharmaceutical at 34.58%, and Genesis at 27.40%, indicating strong bullish sentiment in the chemical pharmaceutical, traditional Chinese medicine, and automation equipment industries respectively [1][5]. - A total of 21 listed companies received broker recommendations on December 15, with Zoli Pharmaceutical receiving the most recommendations at 5, while companies like Tiandi Technology and Changbao Co. received 1 recommendation each [6]. Group 2 - On December 15, brokers initiated coverage on 7 companies, with Changbao Co. receiving an "Accumulate" rating from China Merchants Securities, Genesis receiving a "Outperform" rating from China International Capital Corporation, and SAIC Motor receiving a "Buy" rating from Aijian Securities [3][7]. - The newly covered companies include Changbao Co. in the special steel industry, Genesis in the automation equipment sector, and SAIC Motor in the passenger vehicle market, indicating a diverse range of industries being targeted for investment [4][8].

Core Insights - On December 15, 2023, brokerage firms provided target prices for listed companies, with notable increases for Zejing Pharmaceutical, Zoli Pharmaceutical, and Genesis, showing target price increases of 35.00%, 34.58%, and 27.40% respectively, across the chemical pharmaceuticals, traditional Chinese medicine, and automation equipment industries [1][2]. Group 1: Target Price Increases - Zejing Pharmaceutical received a target price increase of 35.00%, with a latest closing price of 135.00 yuan [2]. - Zoli Pharmaceutical's target price increased by 34.58%, with a closing price of 17.18 yuan [2]. - Genesis saw a target price increase of 27.40%, with a closing price of 11.30 yuan [2]. Group 2: Brokerage Recommendations - A total of 21 listed companies received brokerage recommendations on December 15, with Zoli Pharmaceutical receiving the highest number of recommendations at 5 [3]. - Other companies like Tiandi Technology and Changbao Co. received 1 recommendation each [3]. Group 3: First Coverage Ratings - On December 15, 7 companies received initial coverage from brokerages, including Changbao Co. with an "Accumulate" rating from China Merchants Securities [4]. - Genesis received a "Outperform Industry" rating from China International Capital Corporation [4]. - SAIC Motor was rated "Buy" by Aijian Securities [4].