创新药商业模式有望整体改善

Core Viewpoint - The Xi'an Municipal Government has released the "Implementation Plan for Promoting the Capacity Enhancement of the Biopharmaceutical Industry (2025-2027)", aiming to advance drug research and development in key areas such as stem cell drugs and peptide drugs, while also enhancing the competitiveness of enterprises in the innovative drug sector [1][2]. Industry Development Goals - By 2027, the biopharmaceutical industry in Xi'an is expected to reach a scale of 40 billion yuan, with specific targets for traditional Chinese medicine, chemical drugs, biological drugs, medical devices, and consumer healthcare [1]. - The plan aims for the approval of 1 clinical drug and 1 production drug in the innovative drug sector, as well as 40 Class III medical devices and 400 Class II medical devices by 2027 [2]. Innovation and Collaboration - The plan emphasizes breakthroughs in core technologies for drug development, particularly in stem cell and peptide drugs, and encourages collaboration between pharmaceutical companies and academic institutions for research and development [2][3]. - A full-chain collaborative system covering research, clinical trials, approval, manufacturing, and market access is to be established to facilitate innovation in the pharmaceutical industry [2]. Focus on Cell Therapy - The plan includes a specific initiative for the industrialization of cell therapy technologies, focusing on stem cell therapy, immune cell therapy, and cell-derived therapies [3][4]. - It supports partnerships with universities and medical institutions to advance clinical research in areas such as gastric and liver cancer [3]. Policy Support Across Regions - Multiple cities, including Beijing, Shanghai, Chongqing, and Sichuan, have introduced policies to support the innovative drug industry, indicating a new cycle of policy support for the pharmaceutical sector [4][5]. - Specific measures include reducing clinical trial approval times and providing financial support for innovative drug development [5]. Market Outlook - Analysts note that the pharmaceutical industry is experiencing a new cycle of policy support, with a focus on "hard innovation" assets and those with strong international potential [6]. - The Chinese innovative drug sector is positioned to maintain competitive advantages in emerging technologies and disease targets, with a focus on "innovation + internationalization" as a core strategy moving forward [6].