（文章来源：证券日报） 证券日报网讯 1月9日，百克生物在互动平台回答投资者提问时表示，公司在研的阿尔茨海默病治疗性 疫苗，以国际上广泛认可的靶向Aβ和Tau蛋白进行抗原设计，旨在诱导机体产生针对Aβ和Tau的抗体， 以清除脑内产生的病理性Aβ和Tau蛋白，从而延缓疾病的进展。该项目正处于临床前研究阶段。 ...

PresentationLadies and gentlemen, thank you for standing by. [Operator Instructions] Please be advised that today's event is being recorded. I would now like to turn the call over to Helen Rubinstein, Vice President, Investor Relations and Communications at Neumora. Please go ahead.Helen RubinsteinHead of Investor Relations Good morning, everyone, and thank you for joining us today to discuss top line data from the Phase Ib signal-seeking study with NMRA-511 in Alzheimer's disease agitation. Before we begin ...

1.茅台董事长陈华：聚焦"哪里买"，要找到"谁来买" 12月28日，2026年茅台经销商大会召开。茅台集团党委书记、董事长陈华针对新年市场策略进行布局。他 表示，要让渠道更"活"，要聚焦"哪里买"，推动构建线上线下融合、传统现代互补的渠道网络；要找到"谁 来买"，主动拥抱新经济，拓展新客群；要让服务更"优"，增强消费体验，加强渠道生态韧性。 点评：2026茅台要发力了？ 2.ST葫芦娃：因涉嫌信息披露违法违规，收到证监会立案告知书 ST葫芦娃12月28日公告，公司及公司董事长刘景萍于12月26日分别收到证监会下发的《立案告知书》。因 公司及公司董事长刘景萍涉嫌信息披露违法违规，根据《中华人民共和国证券法》《中华人民共和国行政 处罚法》等法律法规，中国证监会决定对公司和刘景萍立案。目前，公司各项生产经营活动正常有序开 展，在立案调查期间，公司将积极配合中国证监会的相关调查工作，并严格按照有关法律法规及监管要求 履行信息披露义务。 3.晚期阿尔茨海默病治疗或有新突破口 记者28日从中国科学院昆明动物研究所获悉，该所近期与云南大学生命科学学院携手，通过研发调控葡萄 糖代谢、修复脑能量危机的新型活性化合物，成功逆转中 ...

阿尔茨海默病一直被认为不可逆转，但美国科学家开展的一项最新研究发现，大脑能量供应失衡是导致 该病恶化的重要因素。动物实验显示，通过药物恢复能量平衡，不仅能修复受损脑组织，甚至能完全恢 复晚期患病小鼠的记忆和认知功能，从而逆转疾病进程。这项突破性发现为治愈阿尔茨海默病带来了可 能，相关成果发表于新一期《细胞医学报告》杂志。 过去一个多世纪，针对阿尔茨海默病的研究大多聚焦于预防或延缓病程，极少尝试逆转已造成的损伤。 尽管投入巨大，全球尚未有任何药物以认知功能恢复为临床试验目标。 为改变这一局面，美国凯斯西储大学与克利夫兰医学中心研究团队利用小鼠模型和人类患者脑组织发 现，患者大脑难以维持一种关键细胞能量分子NAD+的正常水平，这直接推动了阿尔茨海默病的发展。 这一发现不仅为阿尔茨海默病的治疗开辟了新方向——从"延缓衰退"转向"功能恢复"，也为后续人体试 验奠定了基础。 下一步，团队计划深入探索大脑能量平衡中的关键机制，验证该疗法是否适用于其他与年龄相关的神经 退行性疾病，并推动开展严谨的临床试验，以确认其在人类患者中的疗效。 （文章来源：科技日报） 团队使用名为P7C3-A20的药物，恢复了NAD+平衡，结果令人 ...

Core Viewpoint - The Alzheimer's treatment drug, Ganluo Sodium Capsule, is entering a new phase under Fosun Pharma after facing scientific scrutiny and market challenges, with plans for post-marketing confirmatory clinical trials approved by the National Medical Products Administration (NMPA) [1][2]. Group 1: Clinical Development and Market Position - Fosun Pharma has announced a post-marketing confirmatory clinical trial plan for Ganluo Sodium Capsule, with an increased sample size of 1,950 participants, aiming for completion by the end of 2027 and data release in early 2029 [1][2]. - The drug was conditionally approved for marketing in November 2019 and has since benefited hundreds of thousands of patients, with sales exceeding 1 billion yuan since its inclusion in the national medical insurance catalog in 2021 [1][2]. - The price of the drug decreased from 895 yuan to 296 yuan after being included in the national medical insurance catalog, with over 2 million boxes expected to be sold in 2024 alone [1]. Group 2: Scientific and Regulatory Challenges - The drug faced challenges due to the NMPA not approving the extension of its conditional marketing authorization, leading to a supply interruption and various criticisms [2]. - Prior to conditional approval, Ganluo Sodium Capsule completed phase III confirmatory clinical trials with 818 participants across 34 clinical research centers, and real-world studies involving 3,300 participants have been submitted to validate its long-term safety and efficacy [3]. Group 3: Market Demand and Strategic Response - Alzheimer's disease has become a significant public health challenge in China, with nearly 17 million patients reported in 2021, representing 29.8% of global cases [4]. - The existing treatment options are limited and primarily symptomatic, highlighting a substantial unmet clinical need for effective therapies [4][5]. - The Chinese government is encouraging innovation in drug development, aligning with Fosun Pharma's strategic focus on addressing unmet clinical needs in the Alzheimer's treatment space [5]. Group 4: Company Capabilities and Future Outlook - Fosun Pharma's confidence in taking over the Ganluo Sodium project stems from its proven integrated capabilities in research, clinical trials, and commercialization, with ongoing investments in CNS-related products [6]. - The company has successfully launched several innovative drugs in China and is expanding its clinical and commercial teams in the U.S. to support global market entry [6]. - If clinical results are positive, Ganluo Sodium could re-enter the market post-2029, enhancing Fosun Pharma's capabilities in CNS diseases and attracting further collaborations [7].

【#复星医药14.12亿元投资带崩股价##复星医药回应收购AD药物争议# 】或许令复星医药 （600196.SH；02196.HK）没有想到的是，公司上周抛出的拟14.12亿元收购绿谷医药行动，居然会"带 崩"公司股价，且收到了上海证券交易所的《监管工作函》。 12月22日晚间，针对投资绿谷医药具体交易方式、阿尔茨海默病（AD）药物甘露特钠胶囊临床进展及 后续整合等问题，复星医药方面进行了回应。 甘露特钠胶囊是绿谷医药的主要品种，该药曾于2019年11月获国家药监局有条件批准上市，用于轻度至 中度阿尔茨海默病治疗，彼时成为继2002年美金刚（治疗中重度至重度阿尔茨海默型痴呆）获批上市17 年后，全球首个获批上市的AD治疗药物。 ...

■ 上海复星医药（集团）股份有限公司关于回复上海证券交易所对外投资事项监管工作函的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 ●特别风险提示 1、标的公司主要品种甘露特钠胶囊的药品注册证书（有条件批准）于2024年11月到期，该药品在重新 开展商业化生产和销售前，还需（其中主要包括）补充完成目前尚在开展中的上市后确证性临床试验并 通过国家药监局的审评审批、以及获上海药监局的再注册结论。鉴于该临床试验尚在开展中，该临床试 验能否如期完成受试者入组、达成临床研究终点以及该药品能否如期获国家药品审评部门的批准，尚存 在不确定性。 2、截至本回复出具日，甘露特钠胶囊商业化生产和销售已暂停，且未来一段时间该公司仍将处于对该 药品的临床投入阶段，由于目前标的公司无其他在研药品或已上市产品，若尚在开展中的甘露特钠胶囊 上市后确证性临床研究的数据结果未达预期或未获国家药品审评部门的批准，则标的公司对该药品的前 期研发投入将无法收回，预计将对标的公司持续经营能力造成不利影响。 3、甘露特钠胶囊上市后的具体销售情况还可能受到（包括但不限 ...

Core Viewpoint - The acquisition of Green Valley Pharmaceutical by Fosun Pharma is a strategic move to gain control over the Alzheimer's drug "Jiuyiqi" (Mannose Sodium Capsules), which has faced regulatory challenges and production halts, reflecting both potential opportunities and significant risks in the CNS disease market [1][3][4]. Company Summary - Fosun Pharma plans to invest approximately 1.412 billion RMB to acquire a 53% stake in Green Valley Pharmaceutical, which will be consolidated into Fosun's financial statements post-acquisition [1]. - The core asset of this acquisition is the drug "Jiuyiqi," which has been halted from commercial production due to regulatory issues, specifically the expiration of its drug registration certificate in November 2024 [1][4]. - Green Valley's revenue for the first three quarters of 2025 was only 102 million RMB, with a net loss of 67.61 million RMB, indicating a significant decline in its financial health [1][4]. Industry Summary - The Alzheimer's drug market is characterized by high unmet clinical needs, with approximately 17 million patients in China and projected social costs reaching 3.2 trillion RMB by 2030 [9]. - "Jiuyiqi" has been surrounded by controversy regarding its efficacy and regulatory compliance, leading to a halt in its production and a rise in black market activity due to supply shortages [4][5]. - The acquisition is part of Fosun's broader strategy to enhance its portfolio in the CNS disease sector, which includes investments in diagnostic and therapeutic technologies [6][7].

Core Viewpoint - Fosun Pharma announced the acquisition of a 53% stake in Green Valley (Shanghai) Pharmaceutical Technology Co., Ltd. for approximately 1.412 billion yuan, making it a subsidiary of Fosun Pharma. This acquisition is a strategic move to enhance its presence in the central nervous system treatment sector, particularly focusing on Alzheimer's disease [1][2]. Group 1: Acquisition Details - The acquisition aims to integrate Green Valley's core product, Manzhuan Sodium Capsules (brand name "Jiuqi Yi"), into Fosun Pharma's innovative drug pipeline, targeting mild to moderate Alzheimer's disease [1][2]. - Fosun Pharma plans to support the post-marketing confirmatory clinical research for Manzhuan Sodium Capsules to expedite its approval process [1][3]. Group 2: Product and Market Context - Manzhuan Sodium Capsules are derived from marine brown algae and were conditionally approved as a Class 1 new drug by the National Medical Products Administration in November 2019 for improving cognitive function in Alzheimer's patients [2]. - The product was included in the national medical insurance catalog in 2021, but due to incomplete post-marketing confirmatory clinical research, the drug's registration certificate will expire in November 2024, halting commercial production [2]. Group 3: Future Plans and Research - Fosun Pharma intends to enhance its research and development efforts, focusing on comprehensive management treatment solutions that include early screening, medical diagnosis, drug intervention, and non-invasive treatment devices [2]. - The company is committed to conducting the necessary post-marketing confirmatory clinical trials under the guidance of drug regulatory authorities to ensure the quality and integrity of the trial data [3].

证券代码：600196 股票简称：复星医药 编号：临2025-199 上海复星医药（集团）股份有限公司对外投资公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示 ●交易概述： 1、本次收购（包括本次转让、本次认购新增注册资本及阶段性转让）： 为聚焦未被满足的临床需求,进一步丰富本集团中枢神经系统治疗领域的创新产品管线矩阵、完善市场 布局，打造诊疗一体、多技术路径协同的解决方案，控股子公司复星医药产业拟出资共计141,248.1633 万元控股投资绿谷医药，包括： （1）复星医药产业拟出资14,300万元受让转让方（即市隐投资、识璧润咨询）合计持有的标的公司 2,015万元注册资本（即"本次转让"）。 （2）复星医药产业拟出资126,948.1633万元认缴标的公司20,086.7347万元新增注册资本（即"本次认购 新增注册资本"或"本次认购"）。 （3）此外，为妥善处理标的公司存续股权激励计划等安排中的相关退股并由投资方和创始人共同承担 相应成本，拟由标的公司先行向约定范围内的退股员工等支付相应退股款项，同时 ...