Investment Rating - The report maintains an investment rating of "Outperform" with a rating of A [6] Core Insights - The global BTK inhibitor market is projected to reach 12.495billionin2024,reflectingayear−on−yeargrowthof16.253.329 billion, with a year-on-year growth of 5.16% [23][26] Weekly New Drug Approval & Acceptance - Three new drugs or new indications were approved for market entry in China this week, with 39 new drugs approved for IND, 33 new drugs accepted for IND, and 10 new drugs accepted for NDA [27][28] Domestic New Drug Industry Highlights - On February 25, 2025, Fosun Pharma's tenapanor, a sodium ion transport protein NHE3 inhibitor, received NMPA approval for controlling hyperphosphatemia in adult patients undergoing dialysis [35] - On February 24, 2025, CanSino Biologics announced a collaboration with Summit Therapeutics for the joint development of the PD-1/VEGF dual antibody injection for various solid tumors [35] - On February 25, 2025, Lino Pharmaceutical's SLN12140 injection for treating primary IgA nephropathy was approved for clinical trials [35]
