Group 1 - The core viewpoint of the news is that BeiGene has shown significant stock performance and institutional interest, with a closing price of 261.18 yuan, up 5.78%, and a total market capitalization of 365.976 billion yuan [1] - As of the 2024 annual report, a total of 219 institutions hold shares in BeiGene, including 218 funds and 1 brokerage, with a combined holding of 37.9477 million shares valued at 9.063 billion yuan [1] - BeiGene is a global, commercial-stage biotechnology company focused on the research, development, production, and commercialization of innovative drugs, with key products including BRUKINSA (a BTK inhibitor), anti-PD-1 monoclonal antibody, and Pamiparib [1] Group 2 - The latest financial results for BeiGene indicate that the company achieved an operating revenue of 27.214 billion yuan, representing a year-on-year increase of 56.19%, while the net profit was -4.978287 million yuan, a year-on-year decrease of 25.87%, with a gross margin of 84.44% [1] - In comparison to industry averages, BeiGene's price-to-earnings (P/E) ratio (TTM) is -73.51, while the industry average is 56.46, indicating a significant divergence in valuation metrics [2] - The industry median P/E ratio is 37.48, suggesting that BeiGene's valuation is considerably lower than its peers, which may reflect market sentiment or company-specific challenges [2]

| 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 06160 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | 每股發行/出售價 (註4) | | 已發行股份總數 | | 於下列日期開始時的結存(註1) | 2025年4月28日 | | 1,285,972,026 | | | 0 | | 1,285,972,026 | | 1). 就根據股份計劃授予參與人（發行人的董事除外）的股份獎勵或期權 | | | 214,682 | 0.015 % | | USD | 0.000 ...

Core Viewpoint - The patent dispute between BeiGene and AbbVie regarding BTK inhibitors has reached a significant milestone, with the U.S. Patent and Trademark Office declaring AbbVie's Pharmacyclics' patent invalid, although an appeal is possible [1][3]. Group 1: Patent Dispute Details - The dispute began on June 13, 2023, when Pharmacyclics claimed that BeiGene's drug, Zebutinib, infringed on its patent for Ibrutinib [3]. - The U.S. Patent and Trademark Office's final decision on April 30, 2024, invalidated the entire rights of the '803 patent, which was under scrutiny [1][3]. - AbbVie has not yet responded regarding whether it will appeal the decision [1]. Group 2: Market Context - The global market for BTK inhibitors is projected to exceed 10 billion by 2024, with the U.S. being the largest market [7]. - As of 2024, Ibrutinib remains the top-selling BTK inhibitor, but its market share is being eroded by Zebutinib, which has shown significant growth [7]. - Ibrutinib's revenue is expected to decline by 6.9% in 2024, with U.S. sales dropping by 8.1% [7]. Group 3: Company Performance - BeiGene's Zebutinib is projected to achieve global sales of 2.6 billion in 2024, with U.S. sales reaching 2 billion, a 106.3% increase from the previous year [10]. - AstraZeneca's Acalabrutinib generated 3.129 billion in revenue in 2024, marking a 24% increase [13]. - The competitive landscape is intensifying, with multiple companies, including AbbVie, BeiGene, and Eli Lilly, having launched BTK inhibitors in the U.S. market [7]. Group 4: Ongoing Legal Issues - AbbVie has also filed a lawsuit against BeiGene for alleged theft of trade secrets related to BTK degraders, involving the compounds ABBV-101 and BGB-16673 [13]. - BeiGene asserts that its development of BGB-16673 predates AbbVie's patent application and is confident in its compliance with ethical standards [13].

回港中概股午后走强，金山云(03896.HK)涨超13%，百济神州(06160.HK)涨超7%，万国数据(09698.HK) 涨超6%，宝尊电商(09991.HK)、BOSS直聘(02076.HK)涨超2%。 ...

创新药概念持续活跃 百济神州等多股创历史新高 智通财经4月30日电，百济神州、诺诚健华、锦波生物均创出历史新高，科伦药业、益方生物、泽璟制 药、华东医药、恒瑞医药等涨幅靠前。消息面上，2025年一季度，已经出现了超20笔涉及中国药企全球 授权的交易，BD交易有望在今年再创新高。 ...

无需50万，A股账户就能直接买科创板>> 百济神州-U涨幅扩大至6.19%，科创医药指数ETF(588700)持有该股票7.05%，当前涨幅为1.78%，连涨3 天，成交额1481.1万元，近1月份额减少32.21%，减少1.22亿份。 ...

Core Viewpoint - BeiGene's victory in the patent dispute with Pharmacyclics LLC marks a significant milestone for the internationalization of Chinese innovative drugs, indicating progress towards becoming a competitive multinational corporation [1] Group 1: Company Developments - On April 30, 2025, BeiGene announced that the USPTO invalidated the full rights of U.S. Patent No. 11,672,803, which was challenged by the company [1] - Following this announcement, the innovative drug sector saw an initial surge, with the related ETF, the Innovative Drug Shanghai-Hong Kong ETF (517110), rising over 1% and nearly 14% year-to-date [1] Group 2: Industry Trends - The pharmaceutical sector has experienced a prolonged adjustment period, with overall valuations currently at low levels and public fund holdings underweight [1] - As of Q1 2025, the heavy holding ratio of public pharmaceutical and biological funds was 9.05%, an increase of 0.47 percentage points quarter-on-quarter, yet still at a historically low level [1] - The boundaries of the pharmaceutical industry are expanding, with new technologies like "AI+" driving advancements in brain-computer interfaces and smart wearable devices in medical applications [1] - The commercialization of AI in drug development and auxiliary diagnostics is accelerating, alongside the emergence of new business models in "Internet + healthcare" such as remote diagnosis and health monitoring [1]

Group 1 - The Hong Kong innovative drug sector showed strength with the Hong Kong Innovative Drug ETF (159567) rising over 1.20% and trading volume exceeding 1 billion yuan, with a turnover rate above 8% [1] - Key stocks such as BeiGene rose over 6%, along with other companies like Rongchang Bio, CanSino Biologics, and CSPC Pharmaceutical [1] - The Hong Kong Innovative Drug ETF closely tracks the Hong Kong Stock Connect Innovative Drug Index (987018), reflecting the operational characteristics of listed biotech companies in Hong Kong [1] Group 2 - China Galaxy Securities reported that the pharmaceutical sector has undergone a prolonged adjustment, with overall valuations at low levels and public fund holdings underweight, indicating potential marginal improvement in payment under supportive policies for commercial insurance by 2025 [2] - The report suggests that the innovative drug and device sectors are likely to benefit, with a continuous recovery in the pharmaceutical market and structural opportunities remaining [2] - Huafu Securities noted that the first quarter revealed a consensus on increasing positions in innovative drugs, highlighting a significant bottom reversal trend in the pharmaceutical sector after four years of adjustment [2]

公募基金方面，本期较上一期持股增加的公募基金共计29个，主要包括万家优选、工银前沿医疗股票 A、汇添富创新医药混合、平安医疗健康混合A、汇添富医药保健混合等，持股增加占比达0.17%。本 期较上一季度持股减少的公募基金共计79个，主要包括富国精准医疗灵活配置混合A、中信建投医改 A、南方中证1000ETF、华夏稳盛混合、华夏中证1000ETF等，持股减少占比达0.32%。本期较上一季度 新披露的公募基金共计302个，主要包括中欧时代先锋股票A、创新药、易方达医疗保健行业混合A、汇 添富医疗服务灵活配置混合A、汇添富达欣混合A等。本期较上一季未再披露的公募基金共计20个，主 要包括万家臻选混合A、万家新兴蓝筹A、华安匠心甄选混合A、红土创新医疗保健股票、中信建投医 药健康A等。 2025年4月29日，百济神州(688235.SH)发布2024年年度报告。截至2025年4月29日，共有473个机构投资 者披露持有百济神州A股股份，合计持股量达6479.89万股，占百济神州总股本的4.68%。其中，前十大 机构投资者包括香港中央结算有限公司、广州高新区科技控股集团有限公司、中央企业乡村产业投资基 金股份有限公司、交 ...

港股创新药板块盘初拉升，百济神州涨超6%，石药集团、荣昌生物涨超3%，泰格医药（300347）、白 云山、君实生物跟涨。 ...