LP周报丨杭州，医药大佬又出手了

Core Viewpoint - The article highlights the recent establishment of a specialized pharmaceutical industry fund by East China Pharmaceutical, emphasizing its strategic alignment with the company's innovation-driven growth and the strengthening of the biopharmaceutical ecosystem in Hangzhou [6][7][10]. Group 1: Company Overview - East China Pharmaceutical is a large pharmaceutical enterprise headquartered in Hangzhou, with business segments including pharmaceutical manufacturing, distribution, medical aesthetics, and industrial microbiology [7]. - The company reported a revenue of 21.675 billion yuan for the first half of 2025, representing a year-on-year growth of 3.39%, and a net profit of 1.815 billion yuan, up 7.01% year-on-year [7]. - The company has significantly increased its investment in innovative drug research and development, with innovative drug revenue growing by 59% year-on-year to 1.084 billion yuan in the first half of 2025 [7]. Group 2: Fund Establishment - On August 19, East China Pharmaceutical announced the establishment of a specialized pharmaceutical industry fund, the Hangzhou Fuguang Hongze Equity Investment Partnership, with a total scale of 2 billion yuan, where East China Pharmaceutical contributed 980 million yuan, accounting for 49% [6][10]. - The fund aims to invest in innovative drugs, medical aesthetics, health, and animal protection, aligning with the strategic development and industrial chain layout of East China Pharmaceutical [11]. - The establishment of the fund reflects the company's long-term strategy to consolidate its leading position in the industry through capital involvement and to reduce the upfront costs and risks associated with innovative projects [7][11]. Group 3: Regional Industry Context - The pharmaceutical industry in Hangzhou's Gongshu District has a strong industrial foundation, with significant investments in high-tech industries growing by 49% year-on-year from January to May 2025 [8]. - The district hosts major pharmaceutical companies, including top 10 Chinese pharmaceutical distribution companies and global leaders like AstraZeneca, contributing to a robust industrial ecosystem [8]. - The establishment of the fund aligns with the broader strategy of the "Yuan Da System," which emphasizes capital deployment in the pharmaceutical sector [8].