在这背后，恒瑞医药研发投入不菲。2023年、2024年及2025年上半年，恒瑞医药的研发费用合计达 147.65亿元，这两年半，公司累计盈利150.89亿元。 药企龙头恒瑞医药（600276.SH、01276.HK）又达成一笔创新药对外BD（商务拓展或合作）。 9月24日晚间，恒瑞医药公告，与Glenmark Specialty S.A（下称"Glenmark"）达成协议，将公司具有自 主知识产权的1类创新药瑞康曲妥珠单抗（SHR-A1811），有偿许可给Glenmark。本次交易的首付款和 里程碑款最高可达11.11亿美元。 长江商报记者注意到，9月初，恒瑞医药就达成了一笔对外BD。粗略计算，9月两笔对外授权，交易总 价值最高或达21.99亿美元。 最近两年来，在创始人孙飘扬回归后，恒瑞医药的创新药表现强劲，"借船出海"模式成效显著。2025年 上半年，公司创新药销售及许可收入占营业收入比重达60.66%。 再签11.11亿美元BD大单 恒瑞医药再签创新药BD（对外授权）大单。 9月24日，恒瑞医药发布公告，宣布与Glenmark签署授权许可协议，将其自主研发的1类创新药瑞康曲妥 珠单抗（SHR-A1811 ...

本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据 IPO早知道消息， 加科思药业（ 1167.HK）今日宣布，公司董事长兼首席执行官王印祥博士及 一致行动人于近期累计增持公司股票1105.87万股，增持金额约9634万港元，以实际行动彰显对公 司长期发展前景的坚定信心。 此前发布的 2025年中期业绩中，加科思展示了多项亮眼的研发进展。公司持续聚焦KRAS与iADC 两大研发主线，核心产品均取得积极成果，进一步验证了加科思在全球创新药赛道中的竞争力与成长 潜力。 在 KRAS通路方面，加科思已建立起纵深布局。今年5月，公司KRAS G12C抑制剂戈来雷塞获国家 药监局批准，用于二线单药治疗KRAS G12C突变非小细胞肺癌，并在中国成功上市。这一里程碑不 仅标志着公司实现了在中国市场的首次商业化，也触发了合作伙伴艾力斯支付人民币5000万元的里 程碑款项。同时，戈来雷塞还在与SHP2抑制剂联用，推进一线非小细胞肺癌适应症的开发。 除已上市产品外，公司另一核心项目 pan-KRAS抑制剂JAB-23E73也取得重要进展。在一期临床 剂量爬坡阶段，该项目已观察到多个确认 ...

Core Viewpoint - The approval of the clinical trial for CKBA cream marks a significant breakthrough for the company in the innovative drug development sector, providing new treatment hope for the large patient population suffering from rosacea in China [1] Group 1: Clinical Trial Approval - The company's subsidiary, Jiangsu Bochuangyuan Biopharmaceutical Technology Co., Ltd., received the "Drug Clinical Trial Approval Notification" from the National Medical Products Administration for the CKBA cream targeting rosacea [1] - The approved II/III seamless adaptive clinical trial will effectively accelerate the drug development process [1] Group 2: Innovation and Market Impact - This approval reflects the company's technical strength and project management capabilities in the field of innovative drug development [1] - If the subsequent clinical trials proceed smoothly and receive market approval, CKBA cream will fill the gap for Class I innovative drugs in the domestic rosacea treatment market, providing innovative treatment options for patients [1] - The achievement will further enrich the company's product line and enhance its competitiveness in the treatment of skin diseases, demonstrating the effectiveness of its innovation strategy [1] Group 3: Future Plans - The company plans to initiate clinical trials promptly and aims to achieve drug market launch as soon as possible, while continuing to increase R&D investment to promote the transformation of innovative results [1]

9月23日晚间，苑东生物3.SH，股价58.38元，市值103.06亿元）发布公告称，公司董事会审议通过相关 议案，同意由公司全资子公司苑东生物投资管理（上海）有限公司（以下简称"上海投资公司"）作为投 资主体，以自有资金8571万元对上海超阳药业有限公司（以下简称"上海超阳"）实施增资，增资价格为 2.27元/注册资本。 本次增资完成后，苑东生物间接持有上海超阳的股权比例将由30.68%增加至51.48%。上海超阳将变更 为苑东生物控股子公司，纳入公司合并报表范围。 《每日经济新闻》记者注意到，苑东生物对上海超阳的第一次投资发生在2023年，第二次投资完成于今 年8月。而从8月到最近这次投资，一个月时间，上海超阳的估值实现翻倍增长。不过，上海超阳的在研 项目、临床进展等基本面未发生重大变化。 对于这样一家在研管线还处于早期的创新药研发企业，苑东生物给予了较高估值。公告显示，此次增资 估值以2025年8月31日为基准日，对上海超阳股东全部权益在评估基准日的市场价值进行了评估，评估 结论为上海超阳股东全部权益在评估基准日市场价值为19867.57万元，评估增值17564.90万元，增值率 762.81%。 记者 ...

Group 1 - The core point of the article is that Yabao Pharmaceutical has halted the clinical research of SY-009, an SGLT-1 inhibitor, due to unsatisfactory results from its Phase II clinical trial, marking the second failure in diabetes drug development for the company [1][2][3] - Yabao Pharmaceutical, originally focused on pediatric drugs, aims to transition towards innovative drugs, reducing the proportion of generic drugs from 90% to 40% and increasing investment in innovative drug development [2][3] - The decision to terminate SY-009's clinical research was based on a careful assessment of the investment risks and future market value, leading to a significant write-off of previous R&D investments totaling approximately 87.87 million yuan [3] Group 2 - The global diabetes market is projected to approach $80 billion by 2024, with China's market exceeding 70 billion yuan, indicating a vast potential for diabetes treatment [4] - The competition in diabetes treatment is intense, with ten classes of oral medications available for Type 2 diabetes, but SGLT-1 inhibitors are rarely pursued by companies [4][5] - The focus of major pharmaceutical companies has shifted towards GLP-1 class drugs due to their proven efficacy and market potential, which has led to a changing competitive landscape in diabetes medications since 2019 [6]

Group 1 - The core point of the news is that Guangdong Taiankang Pharmaceutical Co., Ltd. announced that its subsidiary, Jiangsu Bochuangyuan Biopharmaceutical Technology Co., Ltd., received approval from the National Medical Products Administration for the clinical trial of CKBA cream for the treatment of rosacea, marking a significant advancement in innovative drug development [1][2] - CKBA cream has a significant competitive advantage due to its unique chemical structure and independent intellectual property, targeting key enzymes in fatty acid synthesis and metabolism, which helps to reduce inflammation associated with rosacea [1] - The approval of the clinical trial will accelerate the development process of CKBA cream, potentially providing a new and effective treatment option for rosacea patients and enhancing Taiankang's product line in the dermatology field [2] Group 2 - The company aims to advance the research with a scientific and rigorous approach, striving to bring the drug to market as soon as possible to benefit more patients [2] - Taiankang will continue to focus on the innovative drug sector, increasing research and development investment to promote clinical research and the transformation of CKBA's results [2]

Group 1 - China National Petroleum Engineering announced that its wholly-owned subsidiary signed an EPC contract worth $2.524 billion for a seawater pipeline project in Iraq, with a duration of 54 months, expected to positively impact revenue and profit over the next 4-5 years [1] - Pingmei Shenma Group is undergoing a strategic restructuring as directed by the Henan provincial government, which will not significantly affect the company's operations or control [2] - Saisir has received approval from the China Securities Regulatory Commission for the issuance of H-shares, with plans to issue up to 331,477,235 shares [3] Group 2 - Baili Tianheng's drug, iza-bren, has been included in the list of breakthrough therapies for treating advanced or metastatic urothelial carcinoma, marking a significant milestone in its clinical development [4] - Tainkang's subsidiary has received approval for clinical trials of CKBA cream for treating rosacea, a first-class innovative drug in China, addressing an unmet clinical need [6] - Xinnowei's subsidiary has received approval for clinical trials of a biosimilar drug for Alzheimer's disease, being the first of its kind in China to obtain such approval [7][8] Group 3 - Jihong Co. expects a net profit of between 209 million to 222 million yuan for the first three quarters, representing a year-on-year increase of 55% to 65% [9] - Various companies, including Borui Pharmaceutical and Qibin Group, have announced share buyback plans for employee stock ownership or incentive programs [10]

（原标题：2025年21世纪大健康产业竞争力研究「阳光」案例启动征选） 21世纪经济报道记者 韩利明 自2015年深化医改和2018年集采政策实施以来，中国医药企业加速从"仿制"向"创新"转型。历经多年技 术积累与产业沉淀，叠加2021年来生物医药行业"资本寒冬"的洗礼，当前中国创新药械领域已迈入爆发 式增长的关键阶段。 国家药监局统计显示，今年上半年我国共批准创新药43个，同比增长59%，这一数字刷新了历史同期的 最高纪录。与此同时，今年上半年BD（商务合作）已超50起，总金额突破480亿美元，展现出产业链上 下游整合与全球化合作的强劲动能。 进一步从产业根基看，中国在创新药研发管线方面的规模已占全球的四分之一左右，每年开展的临床试 验数量约3000项，这两项关键指标均处于世界前列，标志着中国在全球创新药研发领域已构建起关键竞 争力。 在产业升级进程中，一批企业在创新研发、市场拓展、社会责任履行等多个维度抓住机遇，实现了创新 突破与规模增长。这些企业不仅为大健康产业高质量发展注入强劲动力，更向行业提供了可借鉴、可推 广的实践经验与发展启示。 7.企业健康管理类：聚焦企业健康管理服务体系完整性、用户服务成效、 ...

(编辑：林辰)关键字： 医药 下半年，公司管理层将进一步聚焦现有业务板块发展，加大市场拓展力度，盘活资产，提升经营业绩水 平，为股东创造更大价值。 （上证路演） 9月25日，济民健康举办2025年半年度业绩说明会。会上管理层回应，截至目前，公安机关已初步查明 "何清红等人伪造公司印章"案的基本事实，何清红已由黄岩区检察院批准逮捕，相关案件仍在进一步侦 查中。目前，公司的新药研发项目均按计划稳步推进中，如果新的进展，公司将依照规则进行披露。目 前公司经营正常，各板块稳健发展，公司管理层将努力提升经营管理水平。 此外，管理层还提到，公司将充分利用海南博鳌乐城先行区的创新政策，进一步加强对外合作，加大对 创新药的研发投入，将博鳌国际医院打造成为高水平的临床研究中心和转化医学平台。 公司目前持有博鳌国际医院51%的股权。其他49%的股份包括公司控股股东双鸽集团及其他自然人，涉 及多方利益。公司后续如有相关安排或进展，公司将及时披露相关信息。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 9月25日，重庆华森制药股份有限公司举办了重庆辖区上市公司2025年投资者网上集体接待日暨半年度 业绩说明会活动，吸引了深圳北斗星太空融投资公司等10家机构参与。 本次投资者关系活动类别为特定对象调研及其他（重庆辖区上市公司2025年投资者网上集体接待日暨半 年度业绩说明会活动）。活动时间为2025年9月25日，地点在全景投资者关系互动平台 声明：市场有风险，投资需谨慎。 本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 点击查看公告原文>> 责任编辑：小浪快报 （http://rs.p5w.net）及公司2楼会议室 。参与单位除了上述提及的深圳北斗星太空融投资公司，还有深 圳蓝马资本管理公司、宁波知远投资、广州顺从投资公司、金时 ...