兆科眼科、恒瑞医药争夺第二张“入场券” 阿托品的故事还动听吗

Core Viewpoint - The recent performance of Zhaoke Ophthalmology shows significant revenue growth and a narrowing net loss, while investors are particularly interested in the approval timeline for its key product, low-concentration atropine eye drops [1][4]. Financial Performance - Zhaoke Ophthalmology reported a revenue of 69.32 million HKD for 2024, representing a year-on-year increase of 268.6% [1]. - The company's net loss decreased by 38.3% compared to the previous year [1]. - Cash reserves reached 1.12 billion HKD [1]. Product Approval and Market Potential - Zhaoke Ophthalmology's low-concentration atropine eye drops (NVK002) have been accepted for a simplified new drug application by the National Medical Products Administration [1]. - The target patient group for NVK002 includes children and adolescents aged 3 to 17 [1]. - The market demand for atropine eye drops is believed to be larger than that for PD-1 treatments, indicating significant growth potential [5]. Competitive Landscape - Currently, the only approved low-concentration atropine eye drops are held by Xingqi Eye Medicine, which has faced challenges in meeting sales expectations [2][3]. - Xingqi Eye Medicine's total revenue from eye drops, including atropine, was reported at 512 million CNY, suggesting that the sales of atropine may not reach the previously forecasted 1.5 billion CNY [3]. - Zhaoke Ophthalmology is preparing to scale operations rapidly upon the approval of NVK002, indicating a proactive approach to market entry [5]. Future Outlook - Zhaoke Ophthalmology is targeting three major indications: childhood myopia, dry eye syndrome, and wet age-related macular degeneration, with several products expected to enter the market within the next 1 to 2 years [5].