医药生物行业周报（3月第4周）：创新药大额海外BD热度持续上升

Investment Rating - The report does not explicitly state an investment rating for the industry [2] Core Insights - The pharmaceutical and biotechnology sector saw a weekly increase of 0.98%, outperforming the Wind All A index, which decreased by 1.29%, and the CSI 300 index, which remained flat at 0.01% [4][9] - The report highlights the continuous rise in large overseas business development (BD) activities for innovative drugs, indicating an acceleration in the domestic innovative drug pipeline and an enhancement in global competitiveness [4][13] - A new policy from the Sichuan Provincial Health Commission aims to streamline the clinical application of innovative drugs, addressing barriers to hospital admission and clinical use [4][12] Market Weekly Review - The pharmaceutical and biotechnology sector increased by 0.98% from March 24 to March 28, outperforming the Wind All A index (-1.29%) and the CSI 300 index (0.01%) [9] - The chemical preparations sector led the gains with a 4.59% increase, while hospitals (-3.58%), pharmaceutical distribution (-0.99%), and medical devices (-0.94%) experienced declines [9][10] - Top-performing stocks included Yihe Jiaye (28.58%), Rundu Co. (21.83%), and Zhixiang Jintai (18.34%), while the largest declines were seen in Xiangxue Pharmaceutical (-40.82%), Innovation Medical (-22.74%), and Dongfang Ocean (-22.34%) [9][12] Industry News and Key Company Announcements Important Industry Events - On March 26, a notification was issued by the Sichuan Provincial Health Commission and other departments to promote the clinical application of innovative drugs, outlining nine measures to facilitate the process [4][12] Industry News - On March 25, Heng Rui Medicine announced an exclusive licensing agreement with Merck for its oral small molecule project HRS-5346, with an upfront payment of $200 million and potential milestone payments of up to $1.77 billion [4][13] - On March 24, Federated Pharmaceuticals signed an exclusive licensing agreement with Novo Nordisk for UBT251, a long-acting GLP-1R/GIPR/GCGR triple agonist, with similar financial terms [4][14] Company Announcements - Maiwei Bio signed a supplementary agreement with Junshi Biosciences regarding the marketing rights for Adalimumab injection in mainland China [4][14] - Notai Bio expects a net profit of 130 million to 170 million yuan for Q1 2025, representing a year-on-year increase of 96% to 156% [4][14] - Mai Pu Medical received EU MDR certification for its dura mater medical glue, enhancing its product offerings in neurosurgery [4][14]