甘李药业出海模式价值跃升 创新药授权落地拉美市场

Core Viewpoint - Gannee Pharmaceutical has entered into an exclusive licensing and commercialization agreement with Productos Científicos S.A. de C.V. to develop and commercialize its GLP-1 receptor agonist GZR18 in Latin America, marking the company's first international output of self-developed innovative drugs [1] Group 1: Market Potential and Product Advantages - The Latin American GLP-1 receptor agonist market is projected to reach $1.3232 billion in 2024, with expectations to exceed $3.5 billion by 2030, reflecting a compound annual growth rate (CAGR) of 16.8% from 2025 to 2030 [2] - The bi-weekly administration of GZR18 offers significant advantages in terms of convenience and treatment adherence, making it a favorable option in a region with high diabetes and obesity rates [2] Group 2: Clinical Development and Efficacy - GZR18 has shown promising results in clinical trials for both glycemic control and weight loss, potentially becoming the first bi-weekly GLP-1RA to market globally [3] - The company is accelerating the global clinical development of GZR18, with plans for head-to-head trials against Novo Nordisk products starting in 2025 [3] Group 3: International Strategy and Market Growth - The agreement with PC represents Gannee Pharmaceutical's second major breakthrough in the Latin American market, following a long-term supply agreement worth no less than 3 billion RMB with a Brazilian company [4] - The dual strategy of leveraging both mature products and innovative pipelines positions the company for sustained revenue growth and long-term valuation enhancement [4] Group 4: Financial Performance and R&D Investment - Gannee Pharmaceutical is experiencing a dual boost from domestic recovery and international acceleration, with projected sales growth of 55.28% domestically and 74.68% internationally in the first half of 2025 [5] - The company has invested 883 million RMB in R&D in the first three quarters of 2025, supporting the global clinical development of core products like GZR18 [5]