CONBA(SH:600572) Ge Long Hui·2025-10-29 19:03Core Insights - Hangzhou Kang En Bei Pharmaceutical's application for the generic version of Finerenone has been accepted, with 30 companies currently competing for the first generic approval [1][7][10] - Finerenone, originally developed by Bayer, is used for treating type 2 diabetes-related chronic kidney disease (CKD) and heart failure, showing strong market performance with sales exceeding 410 million yuan in the first half of 2025, a 135.98% year-on-year increase [4][10] - The original patent for Finerenone is set to expire in February 2028, with 23 companies currently filing for a type 3 patent declaration, indicating they cannot market the product until the patent expires [10][13] Company Developments - Kang En Bei Pharmaceutical has successfully obtained approvals for over 50 products, with several being the first to pass consistency evaluations, including Sulfamethoxazole and Amisulpride solutions [16] - The competition for Finerenone has intensified, with 37 companies having completed bioequivalence (BE) trials and over 20 more currently conducting BE trials [13][16] Market Dynamics - The strong sales performance of Finerenone has attracted numerous domestic pharmaceutical companies to enter the market, leading to a competitive landscape [4][7] - The ongoing patent challenges and the competitive nature of the generic drug market suggest a dynamic environment for both original and generic manufacturers [10][13]