一品红参股美国生物技术公司获15亿美元收购要约，痛风创新药成核心资产

Core Viewpoint - Arthrosi Therapeutics, a U.S. biotechnology company in which Yipinhong holds a stake, has received a merger proposal from Sobi's subsidiary, with a total deal value of up to $1.5 billion, including an upfront payment of $950 million and potential milestone payments of up to $550 million [1][2] Group 1: Merger Details - The core asset of the merger is AR882, an innovative gout treatment currently in critical Phase III clinical trials, which has shown promising results in Phase II trials [1][2] - The merger structure includes an upfront payment of $950 million to support further clinical trials and commercialization, with milestone payments linked to clinical progress, regulatory approvals, and sales performance [1][2] Group 2: Clinical Trial and Market Potential - AR882 has demonstrated a complete resolution rate of 43% for gout stones in patients treated with 75mg monotherapy over 12 months, which increases to 57% when combined with allopurinol [1][2] - The global Phase III clinical trial has completed enrollment, with data expected to be disclosed in Q2 2026 for the REDUCE2 trial and in Q4 2026 for the REDUCE1 trial [2] Group 3: Financial Implications for Yipinhong - Yipinhong, through its wholly-owned subsidiary, holds a 13.45% stake in Arthrosi, which translates to approximately 900 million yuan in cash flow from the upfront payment alone [2] - Despite the potential sale of Arthrosi, Yipinhong retains 100% market rights for AR882 in China, ensuring continued access to a significant market opportunity [2]