东北制药经营质量持续向好 布局生物药稳固发展根基

Core Viewpoint - The pharmaceutical industry in China is undergoing a deep adjustment period with intensified competition in the existing market. Northeast Pharmaceutical (000597) has demonstrated strong profitability and operational resilience despite the complex market environment, as evidenced by its financial performance in 2024 [1][2]. Financial Performance - In 2024, Northeast Pharmaceutical achieved a revenue of 7.503 billion yuan and a net profit attributable to shareholders of 410 million yuan, with year-on-year growth rates of 14.34% and 18.97% respectively. The net cash flow from operating activities was 759 million yuan, reflecting a year-on-year increase of 29.32% [1][2]. Operational Quality Improvement - The overall operational quality of Northeast Pharmaceutical has improved, with a significant reduction in total operating costs compared to the previous year. The sales of its main products continue to maintain strong competitiveness, leading to steady profit growth. The company leveraged its "raw material + formulation" integration advantage to enhance market competitiveness and increased export revenue by 26.30% year-on-year [2]. R&D Innovation - Northeast Pharmaceutical is actively investing in research and development to establish a solid foundation for long-term growth. The company focuses on both generic and innovative drugs, implementing a phased R&D management approach. In 2024, it successfully obtained one innovative drug candidate and received production approval for five generic drugs, while also advancing several new products towards market launch [3][4]. Strategic Acquisition - The company has strategically acquired a 70% stake in Beijing Dingcheng Peptide Source Biotechnology Co., Ltd., positioning itself in the emerging field of cell therapy. Dingcheng Peptide Source has developed a comprehensive technology platform for TCR-T and CAR-T cell therapy products targeting various cancers, with ongoing clinical trials for its products [4].