Core Insights - The article highlights the rapid growth and commercialization of biopharmaceutical companies listed under the fifth set of standards on the STAR Market, with 90% of their drugs approved for market release [1][2]. Group 1: Market Overview - As of mid-July 2025, 20 biopharmaceutical companies have raised a total of 42.871 billion yuan through IPOs, contributing to a total A-share market capitalization exceeding 320 billion yuan [1]. - The STAR Market's fifth set of listing standards has facilitated the entry of high-growth, unprofitable tech companies, particularly in the biopharmaceutical sector, which has become a cornerstone of China's pharmaceutical innovation [1][2]. Group 2: Company Performance - Among the 20 companies, 19 have successfully launched 45 self-developed drugs/vaccines, with one company's product application currently under review [2]. - In 2024, these companies collectively achieved a revenue of 14.339 billion yuan, marking a 45% year-on-year increase and a compound annual growth rate of 61.33% since 2019 [4]. - Notably, 16 of these companies reported revenues exceeding 100 million yuan, with four surpassing 1 billion yuan, indicating a significant shift from pre-IPO zero revenue to substantial sales figures [4]. Group 3: Innovation and Product Development - The companies have introduced 20 first-class innovative drugs that have not been marketed domestically or internationally, with nine new additions since 2024 [2]. - An example of innovation is the drug Shuwotini by Dizhe Pharmaceutical, which is the first Chinese innovative drug to receive breakthrough therapy designation in both China and the U.S. for lung cancer treatment [3].
科创板开市6周年丨科创板第五套标准赋能生物医药企业加速成长:近半数公司“摘U” 步入研发成果兑现、商业化阶段
Zhong Guo Jing Ying Bao·2025-07-22 09:29