医药生物行业：糖尿病新药怡诺轻开出全国首张处方

Investment Rating - The industry investment rating is maintained at "Overweight" [4] Core Insights - The launch of the innovative drug Yinuo Qing (generic name: Isu-Paglutide α) marks a significant breakthrough in diabetes treatment in China, benefiting a large patient population [6][4] - China has the highest number of diabetes patients globally, with 116.4 million individuals aged 20-79 affected, and this number is expected to rise to 164 million by 2030 [6] - The domestic diabetes drug market is projected to reach 259.2 billion RMB by 2030, driven by improved patient payment capabilities and the development of innovative drugs [6] - Continuous policy support for diabetes prevention and treatment is evident, with initiatives like the "Healthy China 2030" plan elevating diabetes management to a national strategic level [6] Summary by Sections Industry Performance - Over the past 12 months, the industry has shown a relative return of -17.48% compared to the CSI 300 index [2] Recent Developments - The first prescription for Yinuo Qing was issued on February 11, 2025, at Shanghai Sixth People's Hospital and Nanjing Gulou Hospital, indicating a successful market entry [4][6] Market Potential - The innovative drug Yinuo Qing has a long half-life of 204 hours and demonstrates significant efficacy, with a 2.2% reduction in HbA1c after 24 weeks and an average weight loss of 4 kg within 4 weeks [6] - The increasing prevalence of diabetes in China, attributed to urbanization and aging population, underscores the urgent need for effective treatment options [6] Policy Environment - A series of supportive policies are in place to enhance diabetes prevention and treatment, emphasizing the promotion of new technologies and products in the healthcare sector [6]