Group 1 - The Hong Kong stock market opened with fluctuations on June 10, with the innovative drug sector leading the gains. The Hong Kong innovative drug index component stocks saw significant increases, with Jingtai Holdings rising over 16%, and others like 3SBio, CanSino Biologics, Lepu Biopharma-B, and Luye Pharma rising over 6% [1] - The Hong Kong innovative drug ETF (159567) increased by over 4%, with real-time transaction volume exceeding 2.1 billion, indicating high market enthusiasm [1] - A recent policy document emphasizes improving the basic medical insurance drug catalog adjustment mechanism and developing a commercial health insurance innovative drug catalog to better meet the multi-level medication needs of the public, which is seen as a key issue in enhancing China's healthcare industry ecosystem [1] Group 2 - The innovative drug ETF (159992) tracks the innovative drug index, which includes leading companies in the innovative drug industry chain, benefiting from AI-enabled innovation, domestic innovative drug exports, and the introduction of a Class B drug catalog for high-priced innovative drugs [2] - According to Shenwan Hongyuan, the investment value of the innovative drug sector is becoming increasingly prominent in the current industry environment, with the pharmaceutical sector experiencing its first profit upturn in three years in Q1 2025, showing a 0.7% year-on-year increase in net profit attributable to shareholders [2] - The innovative drug sector is achieving breakthroughs in R&D, leading to new product approvals and significant value release through external licensing transactions, with several large-scale BD transactions in the first half of 2025 amounting to tens of billions of dollars, indicating the growing competitiveness of domestic innovative drug companies in the global market [2]

证券研究报告·公司深度研究·化学制药 华东医药（000963） 白马药企转型创新，开启发展新阶段 2025 年 06 月 09 日 买入（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 40,624 | 41,906 | 45,915 | 49,414 | 52,228 | | 同比（%） | 7.71 | 3.16 | 9.57 | 7.62 | 5.69 | | 归母净利润（百万元） | 2,839 | 3,512 | 4,032 | 4,555 | 5,154 | | 同比（%） | 13.59 | 23.72 | 14.81 | 12.96 | 13.17 | | EPS-最新摊薄（元/股） | 1.62 | 2.00 | 2.30 | 2.60 | 2.94 | | P/E（现价&最新摊薄） | 27.06 | 21.88 | 19.05 | 16.87 | 14.91 | [Table_Tag] [Tabl ...

众生药业分析师会议 调研日期：2025年06月09日 调研行业：中药 参与调研的机构：平安证券股份、深圳创华启盛顾问咨询、远东 宏信等 / | Gallia | | | --- | --- | | 11 2 12 200 2 110 | | | 1:给我们 = 影片面临官 = | | | 阿里巴巴佩尼 | | | 钢铁机之题。 8 | 图纸制图: 23 | | 20GB Millio Aller 19 | | | 海双集团 | | | 1 1 80.0 0 | 总机构建 23 | | LOGA: REGH, KETA: 1986 | | | 小麦具日 | | | 的研究次数:8 | 上机构馆:23 | | 定年代的:用者点击:我要的中:主要原因 | | | START SHILL CARD | | | 颜的集团 | | | 例体位次数 4 | 24/40 33 | | FININ EXIAN, BENN, LEWI | | | 極力集团 | | | · 例计以上的 8 | 品机构管 23 | 调研基本情况 调研对象：众生药业 所属行业：中药 接待时间：2025-06-09 上市公司接待人员：公司董事会秘书 杨 ...

华森制药分析师会议 调研日期：2025年06月09日 / 机构调研pro小程序 DJvanbao.com 洞见研报 出品 : 机构调研pro小程序致力于为金融证券投资者提供最新最全的调研会议纪要。 来机构调研pro小程序，了解最新的：行业投资风向、热门公司关注、权威机构分析... 权威完善的信息持续更新! 更多精彩的机构调报告请移步机构调研pro小程序~ 调研行业：中药 参与调研的机构：中庚基金、国金医药等 一解投资机构行业关注度。 频判市场 | Gallia | | | --- | --- | | 11 2 12 200 2 110 | | | 1:给我们 = 影片面临官 = | | | 阿里巴巴佩尼 | | | 钢铁机之题。 8 | 图纸制图: 23 | | 20GB Millio Aller 19 | | | 海双集团 | | | 1 1 80.0 0 | 总机构建 23 | | LOGA: REGH, KETA: 1986 | | | 小麦具日 | | | 的研究次数:8 | 上机构馆:23 | | 定年代的:用者点击:我要的中:主要原因 | | | START SHILL CARD | | | 颜的 ...

Group 1 - The innovative drug sector has recently become a leader in both A-shares and H-shares, with significant market activity observed, particularly on June 9, where the STAR 200 Index rose by 1.79%, reaching a new high since March 24 [1][2] - The current market focus on innovative drug companies is primarily on those in clinical phases I and II, indicating that the profitability of some companies remains uncertain despite rising valuations [1][5] - The Wind Innovative Drug Index has increased by 27.62% year-to-date, with over 20 stocks in the sector rising more than 10% [2][5] Group 2 - Recent large-scale business development (BD) transactions and positive data from the ASCO conference have stimulated strong performance in the innovative drug sector, with significant cross-border collaborations reported [2][4] - The low interest rate environment is beneficial for innovative drug companies, as it reduces financing costs and allows for increased investment in research and development [4][5] - The majority of innovative drugs currently in development are in the clinical I phase, which accounts for 58% of the pipeline, suggesting a long timeline before potential market entry [5][6] Group 3 - Companies like HaiChuang Pharmaceutical and YiFang Bio have seen significant stock price increases, with HaiChuang's stock rising by 13.3% and YiFang reaching a historical high of 32.8 yuan [5][6] - The innovative drug sector's active market has led to increased trading volumes and a spillover effect into related sub-sectors such as in vitro diagnostics and raw materials [6][7] - Analysts note that while some non-innovative drug companies have experienced volatility due to the hype around individual innovative drug pipelines, core innovative drug stocks have remained relatively stable [7]

Group 1 - The stock of Zhejiang Anglikang Pharmaceutical Co., Ltd. (stock code: 002940) experienced an abnormal trading fluctuation, with a cumulative closing price increase exceeding 20% over two consecutive trading days (June 6, 2025, and June 9, 2025) [1] - The company's board of directors conducted an investigation into the abnormal trading situation and confirmed that there were no undisclosed significant information or major changes affecting the company [1][2] - The only ongoing project is ALK-N001, which received clinical trial approval in April 2025 and is currently in Phase I clinical trials, highlighting the long cycle, high investment, and uncertainty associated with innovative drug development [1][2] Group 2 - The board confirmed that there are no undisclosed matters that should be disclosed according to the Shenzhen Stock Exchange listing rules, nor any significant information that could impact the stock price [2] - The company emphasizes the importance of rational decision-making for investors, given the inherent risks in the long and costly drug development process [2]

[Table_Main] 行业研究|医疗保健 证券研究报告 医疗保健行业周报 2025 年 06 月 09 日 [Table_Title] ASCO 会议召开，创新药迎来重要催化 ——医药生物行业周报（2025.6.2-2025.6.6） [Table_Summary] 报告要点： 医药板块本周小幅跑赢沪深 300 指数 2025 年 6 月 2 日至 6 月 6 日，申万医药生物指数上涨 1.13%，跑赢 沪深 300 指数 0.25pct，在 31 个申万一级行业指数中排名第 17。2025 年初至今，申万医药生物指数上涨 7.81%，跑赢沪深 300 指数 9.36pct， 涨跌幅在 31 个申万一级行业指数中排名第 5。截至 2025 年 6 月 6 日，医药板块估值为 28.02 倍（TTM 整体法，剔除负值），相对于沪 深 300 估值溢价率为 151.44%。 本周易明医药、万邦德和昂利康等表现较好 涨幅排名前十的个股分别为：易明医药（+33.09%）、万邦德 （+32.59%）、昂利康（+30.28%）、新诺威（+21.36%）、海辰药业 （+21.00%）、赛伦生物（+20.48%）、迈威生 ...

证券代码：002317 编号：2025-006 广东众生药业股份有限公司投资者关系活动记录表 证券代码：002317 编号：2025-006 化相关生物标志物也有降低趋势，提示其具有改善肝脏炎症、 坏死的潜力及抗纤维化的作用，研究结果已在自然杂志子刊 《Nature Communications》发表。该项目正在开展 IIb 期临 床试验，参与者入组工作已完成。 呼吸系统研发管线，口服单药抗新冠病毒 3CL 蛋白酶抑 制剂来瑞特韦片（商品名：乐睿灵®）已于 2023 年 3 月获得 国家药品监督管理局附条件批准上市，并已纳入 2023 年国家 医保目录，有望惠及更多患者，为患者提供经济、安全、可及 的用药选择。乐睿灵®从基础机制研究到临床试验的学术研究 成 果 已 经 陆 续 发表于 国 际 顶 刊 自 然杂志 子 刊 《 Nature Microbiology 》 和 国 际 权 威 期 刊 柳 叶 刀 杂 志 子 刊 《eClinicalMedicine》。2024 年，来瑞特韦片列入《抗新型 冠状病毒小分子药物临床应用专家共识》抗新冠病毒药物重 点选择之一，其有效性和安全性获得专家认可，尤其推荐用于 老 ...

证券代码：002907 证券简称：华森制药 答：公司目前的销售终端仍然以公立医院为主，院内市场 大约七成。同时，带动基层医院、私立医院、零售连锁药店及 电商平台五大渠道协同发展，深耕存量市场、开拓增量市场并 提高存量市场占有率。公司也将积极布局包括但不限于零售连 锁药店、三终端（门诊、诊所、村卫生站和单体药店等）以及 电商平台，以提升院外市场占比。 3.在创新药方面，请问目前研发的情况如何？ 答：2025 年 5 月，华森英诺通过对华森制药参股创新药企 业成都奥睿药业有限公司（以下简称"奥睿药业"）的增持控 股，全面整合奥睿药业的研发管线、团队以及设备设施，进一 步提升华森英诺小分子创新药研发能力。 通过与奥睿药业整合，目前华森英诺已经拥有 7 个自主立 项的 1.1 类创新药在研项目，潜在适应症覆盖肿瘤及自免性疾 病领域，适应症及潜在适应症包含嗜血细胞综合征（HLH）、青 光眼、肿瘤免疫以及肺癌、乳腺癌、结直肠癌、胰腺癌等多种 实体瘤。 其中进度最靠前的注射用盐酸 ORIC-1940 正在进行临床 Ia/Ib 期的研究。注射用盐酸 ORIC-1940 靶点作用机制明确，效 价高，安全性好，可能将是我国首个用 ...

今日，创新药继续表现活跃，板块指数创出历史新高。 多只个股涨停，星昊医药涨超27%，创2018年1月以来新高，常山药业、海辰药业、睿智医药、舒泰神20CM涨停，热景生物涨超18%，圣诺生物涨超17%， 泰恩康、海创药业涨超13%，一品红、罗欣药业、联化科技、昂利康、众生药业等涨停。 | 名称 | 现价 | 张唱歌 | 年初至今 | | --- | --- | --- | --- | | 星昊医药 | 25.19 | +27.29 | +82.40% | | 常山药业 | 52.09 | +20.00 | +160.58% | | 海辰药业 | 41.06 | +19.99 | +104.69% | | 舒泰神 | 34.94 | +19.99 | +371.53% | | 睿智医药 | 11.65 | +19.98 | +81.46% | | 执导生物 | 161.15 | +18.15 | +160.59% | | 圣诺生物 | 48.55 | +17.58 | +89.13% | | 泰恩康 | 35.30 | +13.80 | +138.67% | | 海创药 -U | 57.40 | +13.30 | ...