（文章来源：每日经济新闻） 每经AI快讯，9月12日，Moderna、辉瑞、BioNTech SE短线下挫，跌至盘中低点。 ...

Key Takeaways Pfizer has advanced oncology drugs like vepdegestrant, atirmociclib and sigvotatug vedotin.The company expects eight or more oncology blockbusters in its portfolio by 2030.Pfizer gained nine FDA approvals in 2023 and added a gene therapy approval in 2024.Pfizer (PFE) has strengthened its R&D pipeline through M&A deals and clinical trial success over the past decade.Pfizer has particularly advanced its oncology pipeline with several candidates entering late-stage development. Key oncology candi ...

Core Viewpoint - The U.S. government, led by President Trump, is pressuring major pharmaceutical companies to lower drug prices in the U.S. by adhering to the "most-favored-nation" (MFN) pricing policy, which aims to align U.S. drug prices with the lowest prices in other developed countries [1][2][3] Group 1: Government Actions - President Trump has set a deadline of September 29 for pharmaceutical companies to comply with the MFN policy [2] - Multiple federal departments are being mobilized to support this initiative, indicating a coordinated effort to enforce the price reductions [2][3] Group 2: Pharmaceutical Companies Involved - Major pharmaceutical companies receiving Trump's letter include Eli Lilly (LLY.US), Pfizer (PFE.US), Merck (MRK.US), Gilead (GILD.US), Bristol-Myers Squibb (BMY.US), Johnson & Johnson (JNJ.US), Regeneron (REGN.US), Amgen (AMGN.US), AbbVie (ABBV.US), and several European firms such as Merck KGaA, Sanofi (SNY.US), GlaxoSmithKline (GSK.US), AstraZeneca (AZN.US), Novo Nordisk (NVO.US), Roche (RHHBY.US), and Novartis (NVS.US) [1] Group 3: Implications of High Drug Prices - The long-term high drug prices in the U.S. create significant pressure on both public welfare and government finances, making the MFN policy a direct and quantifiable approach to reduce costs [3] - The lack of price regulation in the U.S. compared to other countries contributes to higher drug prices, as U.S. pharmaceutical companies can raise prices without negotiation [3]

文｜胡香赟 受消息影响，9月11日，A股、H股创新药概念集体走低，百济神州、荣昌生物等多只个股走弱；港股多 家药企跌超10%。伴随着对消息的进一步解读，昨日午间，创新药板块局部回暖，涨幅收窄。12日上午 创新药板块震荡走强，盘中恒生生物科技指数大幅拉升。 BD交易是当下中美药企之间的核心合作形式，仅今年上半年，中国创新药License-out总金额达608亿美 元，首付款26亿美元。而特朗普之所以推出这项草案，也是因为近两年跨国药企大量购买中国的创新药 管线，"却对研发同类型药物的美国生物科技公司不屑一顾"，引起了部分美国投资者的不满。 不过，由于该草案牵涉的利益方过于复杂，行业内主流观点对该草案能否落地存疑。有披露过大额BD 交易的药企人士表示：如今中国创新药出海的"主要亮点就是BD"，若草案真的落地，"不会是好事"。 但是，限制中国药企做BD，本质也会限制美国大型药企的发展，相当于"杀敌一千自损八百"。 植德律所投资并购部合伙人郭晓兴认为，消息中提到的部分限制领域"令人意外"；但考虑各方利益博 弈，即使法案最终落地，可能也只是涉及细胞治疗、人类遗传资源利用等最敏感的领域，其他交易仍有 望正常进行。 草案拟 ...

Core Viewpoint - BridgeBio Pharma is competing with Pfizer and Alnylam Pharmaceuticals in the heart disease treatment market, claiming its drug is more effective and cost-efficient while accusing competitors of using "controversial strategies" [1][2]. Group 1: Competition Overview - The competition centers around the treatment of ATTR cardiomyopathy, which has significant market potential, attracting both large pharmaceutical companies and innovative startups [2]. - Pfizer's drug Vyndamax, approved in 2019, is projected to generate approximately $6.6 billion in revenue this year [2]. - BridgeBio's drug Attruby is expected to surpass $300 million in sales this year, with projections of reaching $2.1 billion by 2030 [3]. Group 2: Claims and Counterclaims - BridgeBio's CEO Neil Kumar criticized Pfizer's presentation of data as unfair, comparing it to contrasting the best performance of one runner with the worst of another [1][2]. - Pfizer responded to accusations regarding misleading information, claiming the video in question was a "misplay" and asserting that their data presentation is accurate [2][3]. Group 3: Regulatory and Market Dynamics - The FDA's Office of Prescription Drug Promotion (OPDP) oversees drug advertising, but it often only becomes aware of issues through complaints from competitors or doctors [5]. - There are concerns about OPDP's capacity to handle complaints due to significant staff reductions earlier this year [5]. Group 4: Research and Data Presentation - Kumar expressed dissatisfaction with a study published in the New England Journal of Medicine regarding Alnylam's drug Amvuttra, arguing that the data presented was adjusted in a misleading way [6]. - Alnylam's research head defended the adjustments made to the data, stating they were intended to clarify drug efficacy [7].

Investment Strategy - The company focuses on spotting high-potential winners before they break out, emphasizing asymmetric opportunities with an upside potential of 2-3 times outweighing the downside risk [1] - The investment methodology includes identifying high-conviction opportunities through leadership and management analysis, market disruption and competitive positioning, financial health and risk management, valuation, and portfolio construction [1] Leadership & Management Analysis - Proven track record in scaling businesses is essential, along with smart capital allocation and insider ownership [1] - Consistent revenue growth and credible guidance are critical factors for evaluation [1] Market Disruption & Competitive Positioning - A strong technology moat and first-mover advantage are key competitive advantages [1] - Network effects that drive exponential growth and market penetration in high-growth industries are prioritized [1] Financial Health & Risk Management - Sustainable revenue growth with efficient cash flow is a focus area [1] - Maintaining a strong balance sheet and long-term survival runway is crucial, along with avoiding excessive dilution and financial weakness [1] Valuation & Asymmetric Risk/Reward - Revenue multiples compared to peers and DCF modeling are used for valuation [1] - Institutional backing and market sentiment analysis are considered to ensure downside protection with significant upside potential [1] Portfolio Construction & Risk Control - Core positions (50-70%) consist of high-confidence, stable plays, while growth bets (20-40%) are high-risk, high-reward opportunities [1] - Speculative investments (5-10%) are allocated to moonshot disruptors with massive potential [1]

Pfizer Inc. (NYSE:PFE) is one of the best growth stocks under $50 to buy now. On September 8, Pfizer Inc. (NYSE:PFE) and BioNTech SE announced positive topline results from an ongoing Phase 3 clinical trial cohort “evaluating the safety, tolerability, and immunogenicity of a 30-µg dose of the LP.8.1-adapted monovalent COMIRNATY® 2025-2026 Formula in adults aged 65 and older and in adults aged 18 through 64 with at least one underlying risk condition for severe COVID-19.” Pfizer’s (PFE) Breakthrough Medici ...

整理 | GLP1减重宝典内容团队 特朗普政府一直在讨论对中国药品实施严格限制，若该政策落地，可能颠覆美国制药行业，影响从仿制药到尖端疗法等各类药物的可及性。 潜在打压措施的核心是一份拟议的行政命令，威胁切断中国研发的实验性治疗药物的输送渠道。大型制药公司一直在收购中国研发的癌症、肥 胖症、心脏病和克罗恩病药物的专利权。 这项行政命令草案(《纽约时报》已获得副本)的出台前景，引发了两个立场截然对立且各自涉及数十亿美元利益的集团展开激烈的幕后游说活 动。 据四位了解游说内情并要求匿名讨论私下谈话的人士透露，与白宫关系密切的知名投资者和企业高管——包括科技亿万富翁彼得·蒂尔、谷歌 联合创始人谢尔盖·布林、科赫家族以及特朗普总统女婿贾里德·库什纳所运营投资公司的员工都主张采取果断打压措施，他们认为中国生物技 术对美国构成了生存威胁。 这些投资者面临资金风险，因为他们持有难以变现的美国初创企业投资，这些企业一直难以跟上中国蓬勃发展的生物技术行业步伐。 另一方则是包括辉瑞和阿斯利康在内的全球大型制药企业。近年来它们在中国大肆收购低价实验药物，冷落了正在研发同类药物的美国小型生 物技术公司。 民主党和共和党均认为美国在药 ...

The drug and biotech sector is facing multiple headwinds. President Trump has warned of heavy tariffs, as high as 250%, on pharmaceutical imports. Trump’s repeated threats to impose tariffs on pharmaceutical imports are aimed at pushing American pharma companies to shift pharmaceutical production back to the United States, primarily from European and Asian countries. Trump has said that drugmakers have about one to one and a half years to bring production back to the United States before the new tariffs are ...

Pfizer Inc. (NYSE:PFE) is among the undervalued wide moat stocks to buy now. Olema Pharmaceuticals has announced its collaboration and supply agreement with Pfizer Inc. (NYSE:PFE) in the treatment of metastatic breast cancer. Under the clinical trial partnership, both companies will examine the palazestrant-atirmociclib combination in approximately 35 patients, anticipated to begin in H2 2025. With Olema leading the study, Pfizer Inc. (NYSE:PFE) will serve as the supplier of atirmociclib for use in the Ph ...