瞄准过敏性鼻炎新药！济川药业“牵手”普祺医药，后者正冲刺港股IPO

Core Viewpoint - Jichuan Pharmaceutical is focusing on the commercialization of a new drug for allergic rhinitis, PG-011, through a partnership with Beijing Puqi Pharmaceutical Technology Co., Ltd. [2][5] Group 1: Commercialization Agreement - Jichuan Pharmaceutical's subsidiary, Jichuan Pharmaceutical Group Co., Ltd., has signed an exclusive commercialization agreement for PG-011, a nasal spray, in China, including mainland, Hong Kong, Macau, and Taiwan [2] - The company will pay up to 100 million yuan (including tax) for the exclusive commercialization rights [2] Group 2: Product Details - PG-011 is a self-developed JAK1/2 inhibitor aimed at treating allergic rhinitis and is expected to be the world's first JAK inhibitor nasal spray [5] - The clinical trial application for PG-011 was approved by the Chinese National Medical Products Administration on August 2, 2023, and it is currently in Phase III clinical trials [5] Group 3: Financial Implications - Puqi Pharmaceutical, the developer of PG-011, is currently not profitable, with projected net revenues of 11.22 million yuan and 1.158 million yuan for 2024 and the first three quarters of 2025, respectively, alongside losses of 178 million yuan and 125 million yuan [5] - The commercialization agreement is expected to provide significant revenue for Puqi Pharmaceutical, which has high R&D expenditures [5] Group 4: Additional Agreements - Following the agreement with Puqi Pharmaceutical, Jichuan Pharmaceutical also signed an exclusive commercialization rights agreement for Inusimab injection with Jiangsu Jiyuan Pharmaceutical Co., Ltd. and others, paying 80 million yuan (including tax) [7] - Inusimab is a PCSK9 monoclonal antibody used for treating primary hypercholesterolemia and mixed dyslipidemia [7] Group 5: Financial Performance - Jichuan Pharmaceutical reported a revenue decline of 32.27% year-on-year for the first three quarters of 2025, with revenues of approximately 3.932 billion yuan and a net profit decline of 46.27% [7] - The company also experienced a revenue drop of 16.96% in 2024, with revenues around 8.017 billion yuan and a net profit decline of 10.32% [8]