
Market Performance - The pharmaceutical sector experienced a slight decline of -0.07% on August 20, 2025, underperforming the CSI 300 index by 1.21 percentage points, ranking 31st among 31 sub-industries in the Shenwan classification [1] - Among sub-industries, hospitals (+0.63%), blood products (+0.30%), and medical research outsourcing (+0.29%) showed positive performance, while other biopharmaceuticals (-1.02%), in vitro diagnostics (-0.46%), and medical consumables (-0.38%) lagged behind [1] - Top three gainers in individual stocks were Huabang Health (+10.11%), Jimin Health (+10.02%), and Tianmu Pharmaceutical (+10.01%), while the biggest losers were Xintian Pharmaceutical (-10.01%), Fuyuan Pharmaceutical (-10.00%), and Chengyi Pharmaceutical (-9.99%) [1] Industry News - Madrigal announced that the European Commission has conditionally approved its drug Rezdiffra (resmetirom) for treating adult patients with moderate to severe liver fibrosis due to non-alcoholic steatohepatitis (MASH) [2] - Resmetirom is a "first-in-class" oral thyroid hormone receptor (THR)-β selective agonist targeting the underlying causes of MASH [2] - This approval marks the first MASH therapy to receive EU approval, based on results from the pivotal MAESTRO-NASH Phase 3 clinical trial, which showed that 25.9% and 29.9% of patients in the 80mg and 100mg Resmetirom groups, respectively, achieved symptom resolution without worsening liver fibrosis at week 52, compared to 9.7% in the placebo group (P<0.001) [2] Company News - Heng Rui Medicine (600276) reported a revenue of 15.761 billion yuan for the first half of 2025, a year-on-year increase of 15.88%, with a net profit attributable to shareholders of 4.450 billion yuan, up 29.67% [3] - Lizhu Group (000513) posted a revenue of 6.272 billion yuan for the first half of 2025, a slight decline of 0.17%, while net profit attributable to shareholders increased by 9.40% to 1.281 billion yuan [3] - Te Bao Biological (688278) achieved a revenue of 1.511 billion yuan, reflecting a growth of 26.96%, with a net profit of 428 million yuan, up 40.60% [3] - Zhong Yao Holdings (000950) reported a revenue of 41.188 billion yuan, a growth of 3.54%, and a net profit of 282 million yuan, increasing by 18.56% [3]