THDB(SH:600867) Zheng Quan Shi Bao·2025-10-10 19:35Core Viewpoint - Tonghua Dongbao has received marketing approval for its insulin glargine injection from the Ministry of Health of the Republic of the Union of Myanmar, which is expected to enhance its international market presence and product line [2][4]. Group 1: Product Development and Market Expansion - The company focuses on research and development in diabetes and endocrine-related medications, aiming to provide comprehensive solutions for patients [2]. - Tonghua Dongbao's insulin analogs saw over 200% year-on-year sales growth in the domestic market during the first half of 2025, leveraging new procurement policies to expand market share [3]. - The company is accelerating the overseas commercialization of multiple products, with overseas market revenue reaching 110 million yuan, a nearly 187% increase year-on-year in the first half of 2025 [2][3]. Group 2: Market Demand and Demographics - As of August 2025, Myanmar has a population of approximately 51.3 million, with increasing healthcare demands driven by aging, urbanization, and rising chronic disease prevalence [3]. - The International Diabetes Federation (IDF) projects that the number of diabetes patients aged 20-79 in Myanmar will rise to 2.3658 million in 2024, with a prevalence rate of 6.4% among adults in that age group [3]. Group 3: Strategic Implications - The approval of insulin glargine is expected to enrich the company's international product line, enhance brand image, and facilitate market entry in emerging markets [4]. - The company has initiated preparatory work for product sales, although actual sales may be influenced by market demand, policy changes, and competition, introducing an element of uncertainty [4].