上周，全球减重药物市场迎来双重突破：中国国家药品监督管理局（NMPA）于6月27日正式批准信达生物与礼来制药联合研发的全球首款胰高血糖素 （GCG）/胰高血糖素样肽-1（GLP-1）双受体激动剂玛仕度肽上市。 | 索引号 | XZXK-2025-255 | 主题分类 | | --- | --- | --- | | 标题 | 国家药监局批准玛仕度肽注射液上市 | | | 发布日期 | 2025-06-27 | | 截图来源：NMPA官网 而诺和诺德则在6月26日举行的第85届美国糖尿病协会（ADA）科学年会上公布了其新型GLP-1/胰淀素受体双重激动剂「Amycretin」的Ⅲ期临床试验数据， 相关结果同步发表于《柳叶刀》。 两大创新药物的同期亮相，标志着全球减重治疗正式迈入"双靶点时代"。 一、玛仕度肽：全球首款GCG/GLP-1双靶点药物 4mg剂量组平均减重12.0%，体重降幅≥5%的患者比例达73.5%； 安慰剂组仅减重0.5%。 玛仕度肽的疗效不仅体现在体重数字上，更通过多维度代谢指标改善为患者带来长期健康获益： 肝脏脂肪代谢：6mg剂量组治疗48周后，肝脏脂肪含量（LFC）平均相对降幅达80.24% ...

Core Insights - The company reported a total operating revenue of 1.283 billion yuan in 2024, representing a year-on-year growth of 8.74% [1] - The net profit attributable to shareholders decreased by 6.57% to 189 million yuan [1] - The company continues its dividend policy, proposing a cash dividend of 0.96 yuan per 10 shares, totaling an expected distribution of 40.52 million yuan [2] Revenue Breakdown - Revenue from raw materials reached 988 million yuan, an increase of 11.57% year-on-year [1] - Revenue from formulation products was 161 million yuan, growing by 16.77% year-on-year [1] - Antiviral product revenue decreased by 37.92% due to fluctuations in demand and pricing of oseltamivir [1] - Revenue from antifungal products surged by 60.28% due to increased commercialization demand [1] - Immunosuppressive product revenue grew by 45.72% driven by commercial demand [1] International Expansion - The company experienced a significant 45% increase in overseas revenue, attributed to expanded channels in North America and Europe [1] - The company has established multiple technology platforms to support the development of high-end generics and original new drugs [1] - Products have been registered and authorized for sale in the US, Europe, Japan, South Korea, and countries along the "Belt and Road" initiative, laying a solid foundation for future overseas revenue growth [1] R&D Investment - The company increased its R&D expenditure to 297 million yuan in 2024, a year-on-year increase of 19.65% [2] - Future R&D focus areas include treatments for NASH and dual-target drugs, with a particular emphasis on GLP-1 class drugs in the metabolic field [2] - The company aims to explore new administration methods, multi-target combination therapies, and expand indications to address unmet clinical needs [2] Dividend Policy - The company has maintained a consistent dividend policy since its listing in 2019, with cumulative cash dividends amounting to 246 million yuan over six years [2]