医药生物行业：创新药专题研究：礼来三季度研发更新

Investment Rating - The report suggests a "Buy" rating for various innovative pharmaceutical companies in the domestic market, including HengRui Medicine, Hansoh Pharmaceutical, and others [3]. Core Insights - Eli Lilly has multiple projects in the fields of metabolism, oncology, rheumatology, and genetic disease gene therapy, indicating a robust pipeline with potential for significant market impact [3][33]. - The report highlights the importance of monitoring the progress of domestic innovative drug companies and their related industrial chain enterprises, as many of them are at similar or slightly advanced stages compared to Eli Lilly's projects [33]. Summary by Sections New and Terminated Projects - In Q3 2024, Eli Lilly added three new drug projects in Phase I research: MAPT siRNA (LY3954068) for Alzheimer's disease, SMARCA2 allosteric inhibitor (LY4050784) for metastatic solid tumors, and SNCA siRNA (LY3962681) for Parkinson's disease [2][10]. - Three projects were terminated: LY3875383 (APOC3 siRNA), DC-806 (IL-17 small molecule inhibitor), and PERESOLIMAB (PD-1 agonist) [2][25]. Important R&D Milestones for the Next Three Years - Significant milestones expected by the end of 2024 include the completion of studies for Tirzepatide (NCT05822830) for obesity, with a primary endpoint of percentage change in weight compared to baseline [19][27]. - For 2025, key projects include Lebrikizumab for atopic dermatitis and Mirikizumab for Crohn's disease, both in Phase III trials [49][73]. Future Research Pipeline - Eli Lilly's future pipeline includes nearly 100 projects across various clinical stages, focusing on oncology, metabolism, rheumatology, and genetic diseases [50]. - Notable upcoming projects include LY4065967 (AT2R antagonist) and LA-ANP for obesity and hypertension, both expected to yield results in 2025 [65][73].