Caitong Securities(SH:601108) Zhi Tong Cai Jing·2025-10-29 03:21Core Insights - Small nucleic acid drugs are considered potential candidates for treating various diseases due to their unique molecular structure and therapeutic mechanisms [1][3] - The global nucleotide market, including oligonucleotides and monomers, is projected to reach a sales figure of $730 million in 2023, with China being the largest production market [3] Group 1: Impact of Phosphoramidite Monomers - Phosphoramidite monomers significantly influence the research and development process of small nucleic acid drugs, serving as a fundamental raw material [1] - These monomers enhance the stability and biological activity of small nucleic acid drugs and drive innovation in their development [1] Group 2: Oligonucleotides as Key Raw Materials - Oligonucleotides are the primary raw materials and major cost source in the production of nucleic acid drugs, with most nucleic acid drugs being composed of oligonucleotides [2] Group 3: Future Demand and Opportunities - The demand for phosphoramidite monomers is expected to grow significantly, benefiting companies within the supply chains of multinational pharmaceutical firms [3] - Approximately 90% of global nucleotides are utilized for nucleic acid drug production, indicating a strong market focus [3] Group 4: Investment Recommendations - Companies to watch in the innovative drug and device sector include Furuya Co., Ltd. (300049.SZ), Anglikang (002940.SZ), and others [4] - In the CXO and raw material sectors, companies such as WuXi AppTec (603259.SH) and Jiuzhou Pharmaceutical (603456.SH) are recommended for attention [5]