Mei Ri Jing Ji Xin Wen·2025-05-29 14:19Core Viewpoint - The approval of Yipeisheng (益佩生), a long-acting growth hormone injection by Tebao Biopharma, marks a significant shift in the long-acting growth hormone market, breaking the decade-long monopoly held by Jinsai Pharmaceutical [2][4]. Company Summary - Tebao Biopharma's Yipeisheng is designed for weekly administration, targeting growth hormone deficiency in children aged three and above, enhancing patient compliance and reducing treatment burden [2][3]. - The company reported a revenue of 2.817 billion yuan in 2024, a year-on-year increase of 34.13%, and a net profit of 828 million yuan, up 49% year-on-year [6]. - The company has five existing products, with Paigebin being the main revenue driver, generating 2.447 billion yuan, accounting for over 80% of total revenue [6]. Industry Summary - The long-acting growth hormone market has been dominated by Jinsai Pharmaceutical for over ten years, with its product "Jinsai Zeng" being the first globally approved long-acting growth hormone [3][4]. - The market for growth hormone treatment in China is significant, with approximately 6.4 million children affected by growth hormone deficiency, indicating a substantial unmet medical need [3]. - The entry of Yipeisheng is expected to intensify competition in the long-acting growth hormone sector, potentially leading to expanded indications and increased market share for long-acting products [4].