东北制药：深化“研发+管理”提升发展韧性

Core Insights - Northeast Pharmaceutical (000597) released its 2025 semi-annual report, showcasing resilience in growth and quality of development amid industry policy adjustments and intensified market competition [1][2] R&D Investment - The company significantly increased its R&D investment, reaching 83.49 million yuan in the first half of the year, a year-on-year growth of 84.09%, focusing on both independent research and external collaborations to accelerate the development of innovative drugs and high-tech generics [1] - Notable breakthroughs in cell therapy were achieved by its subsidiary, including the DCTY1102 injection, which is the first domestic and second globally to enter Phase I clinical trials for targeted KRASG12D TCR-T cell therapy, applicable for advanced pancreatic and colorectal cancer [1] - The DCTY3201 injection is a globally pioneering multi-target next-generation TCR-T product, filling a gap in the field, while the CAR-T product DCTY0801 injection received orphan drug designation from the FDA and its clinical trial application was accepted by the National Medical Products Administration in July [1] Cost Management - The company implemented comprehensive fine management across the entire chain to uncover cost potential, achieving significant results in cost reduction and efficiency enhancement [2] - Utilizing smart manufacturing systems and big data technology, the company automated and visualized key processes, enhancing operational precision and efficiency from raw material procurement to finished product dispatch [2] - Strengthening production and sales coordination, the company maintained reasonable inventory through centralized production and balanced scheduling, while optimizing the supply chain to lower raw material costs [2] Social Responsibility - Northeast Pharmaceutical actively pursued economic benefits alongside social responsibility, advancing rural revitalization projects in Gansu's Linxia Prefecture, which improved project profitability and increased local income [2] - The company donated 10 million yuan in disaster relief materials to the earthquake-affected area in Tibet, demonstrating corporate responsibility and enhancing brand image [2] Future Outlook - Looking ahead, Northeast Pharmaceutical plans to deepen its "R&D + Management" dual-driven strategy, increase efforts in innovative drug development, and further advance fine management while steadily fulfilling social responsibilities to enhance core competitiveness and market influence [2]