医药生物行业周报：ADA大会拉开帷幕，关注GLP-1赛道-20250620

Investment Rating - The industry investment rating is "Overweight (Maintain)" [1] Core Viewpoints - The report highlights the significant rise in the global obesity population, with the adult overweight/obesity rate reaching 46% in 2025 and projected to rise to 54% by 2035. In China, the overweight/obesity population aged 25 and above reached 402 million by 2021, expected to exceed 627 million by 2050 [2] - The report emphasizes the increasing demand for treatments related to metabolic diseases, particularly the GLP-1 class of drugs, which is projected to surpass $50 billion in global sales by 2024, with semaglutide contributing $25 billion and tirzepatide $16 billion [2] - Domestic pharmaceutical companies are actively developing GLP-1 drugs, with several clinical research results expected to be presented at the upcoming ADA conference, showcasing advancements in obesity and diabetes treatments [3] Summary by Sections Industry Overview - The report notes that the ADA conference is expected to elevate the focus on GLP-1 drugs, with long-acting, oral, multi-target combination therapies, and fat loss without muscle loss being key areas of interest [4] Market Trends - The report indicates that the prescription volume of GLP-1 drugs in the U.S. has been rapidly increasing, with GLP-1 drugs accounting for over 50% of the total market share for weight loss medications as of April 2025 [2] Company Focus - The report suggests monitoring companies such as Heng Rui Medicine, Zhong Sheng Pharmaceutical, and Innovent Biologics, as they are well-positioned in the GLP-1 drug market [4]