医药行业创新药周报：2024年5月第二周创新药周报（附小专题血友病RNAi疗法研发概况）

Investment Rating - The report maintains an "Outperform" rating for the pharmaceutical industry as of May 12, 2024 [1]. Core Insights - The report highlights the performance of the innovative drug sector in both A-shares and Hong Kong stocks, with 38 stocks rising and 22 falling during the week. Notable gainers include Zai Lab (+26.56%) and WuXi AppTec-B (+26.56%), while Beihai Kangcheng-B (-24.44%) and Dizhe Pharmaceutical-U (-9.48%) were among the biggest losers [2][19]. - A-shares in the innovative drug sector increased by 0.79%, underperforming the CSI 300 index by 0.93 percentage points, while the biopharmaceutical sector rose by 2.5%. Over the past six months, A-shares in the innovative drug sector have declined by 2.51%, lagging behind the CSI 300 index by 4.05 percentage points [2][20]. - The Hong Kong innovative drug sector saw a 7.76% increase, outperforming the Hang Seng Index by 5.12 percentage points. However, over the last six months, the sector has dropped by 4.77%, underperforming the Hang Seng Index by 11.23 percentage points [2][22]. - The XBI index in the US fell by 2.75% this week, but has seen a cumulative increase of 4.38% over the past six months [2][23]. Domestic Key Innovative Drug Progress - In May, eight new drugs were approved for market launch in China, with three new indications also receiving approval. This week alone, three new drugs were approved [3][24]. - The report details the approval of Fitusiran, a targeted siRNA therapy for hemophilia, which has been accepted for review by the NMPA, potentially allowing for its first launch in China [4]. Global Key Innovative Drug Transactions - The report notes 16 significant global transactions this week, including a licensing agreement between Shionogi & Co. and Maze Therapeutics for MZE001, a new candidate for Pompe disease treatment [5]. Summary of New Drug Approvals - The report lists several new drugs approved in May, including: - Anakinra by China National Pharmaceutical Group for non-small cell lung cancer [25]. - Carfilzomib by Amgen for multiple myeloma [27]. - Other notable approvals include drugs for HIV-1 infection and heart failure [27][29]. Market Overview - The total market capitalization of the pharmaceutical industry is approximately 523.17 billion yuan, with a circulating market value of about 512.71 billion yuan. The industry’s price-to-earnings ratio (TTM) stands at 34.0, compared to the CSI 300's TTM of 12.2 [7].