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长风药业通过聆讯 CF017商业化推广成功 为中国销量最高的吸入药物类别
Zhi Tong Cai Jing·2025-09-23 07:13

Core Viewpoint - Changfeng Pharmaceutical Co., Ltd. is advancing its listing process on the Hong Kong Stock Exchange, with a focus on inhalation technology and respiratory disease treatments, amidst a growing global market for respiratory medications [1][3]. Company Overview - Established in 2007, Changfeng Pharmaceutical specializes in the research, production, and commercialization of inhalation drugs targeting respiratory diseases [3]. - The company has developed a robust market presence with its first approved product, CF017, a budesonide suspension for treating bronchial asthma, which has captured approximately 16% of the Chinese market for budesonide inhalation drugs by volume in 2024 [3][4]. Market Potential - The global respiratory drug market is projected to grow from an estimated $99.9 billion (approximately RMB 729.2 billion) in 2024 to $157.2 billion (approximately RMB 1,147.4 billion) by 2033, reflecting a compound annual growth rate (CAGR) of 5.2% [3]. - Nearly 2.5 billion people worldwide suffer from chronic respiratory diseases, indicating a significant and expanding market opportunity [3]. Product Development and Pipeline - Changfeng Pharmaceutical is actively developing over 20 candidate products for global markets, including the U.S., Europe, and emerging markets in Southeast Asia and South America [6]. - The company is exploring innovative inhalation formulations and new therapeutic areas, including CNS diseases and anti-infection treatments, alongside developing novel therapies for serious conditions like IPF and PAH [6]. Financial Performance - The company's revenue is expected to grow from RMB 349.1 million in 2022 to RMB 607.8 million in 2024, representing a CAGR of 31.9% [7]. - Gross profit is projected to reach RMB 491.4 million in 2024, with a year-on-year growth of approximately 7.2% [7]. - Operational efficiency is expected to improve due to economies of scale, with administrative expenses as a percentage of revenue anticipated to decline as the business expands [7].