一品红出售参股公司股权，涉核心痛风创新药股价大跌

Core Viewpoint - The company Yipinhong (300723) announced its intention to sell its stake in the U.S. company Arthrosi Therapeutics, Inc., which holds the innovative gout drug AR882 currently in Phase III clinical trials. Despite the positive outlook from the company regarding the transaction and a concurrent share buyback plan, its stock price has significantly declined, reaching a six-month low in market capitalization [1][5]. Group 1: Transaction Details - Yipinhong holds a 13.45% stake in Arthrosi through its wholly-owned subsidiary, Ruiteng Bio (Hong Kong) Co., Ltd. The core asset of this transaction is the innovative gout drug AR882, which is a new generation oral URAT1 inhibitor [2][3]. - Arthrosi plans to sign a merger agreement with Sobi US Holding Corp., a subsidiary of Swedish Orphan Biovitrum AB, for a total acquisition price of $950 million (approximately 6.713 billion RMB), including a $550 million (approximately 3.887 billion RMB) milestone payment [2]. - Following the completion of the transaction, Yipinhong will no longer hold any equity in Arthrosi, but it aims to maintain collaboration on the global supply chain and continue clinical development of AR882 in China [3][4]. Group 2: Financial Performance and Market Reaction - Arthrosi is currently in a loss-making position with no sales revenue, reporting a loss of $43.44 million in 2024 and $73.15 million in the first three quarters of the current year [3]. - Yipinhong's stock price fell sharply after the announcement, with a 10.45% drop on December 16, closing at 33.42 RMB per share, resulting in a market capitalization reduction to 15.096 billion RMB [5][6]. - The company is facing significant financial pressure, projecting a net loss of 540 million RMB for 2024, attributed to industry policy changes, market environment shifts, and increased R&D investments [5][6].