Investment Rating - The report maintains an investment rating of "Leading the Market-B" for the chemical pharmaceutical industry [1]. Core Insights - The oral GLP-1 small molecule receptor agonists are positioned as effective treatments for type 2 diabetes and obesity, with advantages such as no dietary restrictions and low chemical synthesis supply difficulties. The oral small molecule GLP-1 RA Orforglipron has reached phase III clinical endpoints and is set to apply for market approval [1][2]. - The potential BIC pipeline from Geely Pharmaceutical shows promising weight loss potential in the U.S. clinical trials, demonstrating superior half-life, drug exposure, and activity compared to Orforglipron [1][3]. - In clinical trials, Orforglipron has shown significant reductions in A1C levels and weight loss, with 65% of patients achieving A1C values ≤6.5% and a weight reduction of -7.9% after 40 weeks of treatment [2]. - In a separate obesity trial, Orforglipron demonstrated a weight loss of -12.4% after 72 weeks, with 59.6% of patients losing ≥10% of their body weight [3]. - ASC30, another oral GLP-1 RA, has shown superior pharmacokinetic and pharmacodynamic characteristics, with a drug exposure 2.2 times higher than Orforglipron and a faster dose titration, which may enhance long-term efficacy [3]. Summary by Sections Market Performance - The chemical pharmaceutical industry has shown a strong market performance over the past year, particularly in the area of innovative drugs [1]. Drug Evaluation - The report highlights the successful clinical outcomes of Orforglipron and ASC30, emphasizing their potential in treating type 2 diabetes and obesity, with favorable safety profiles and tolerability [1][2][3]. Clinical Trial Results - Orforglipron's phase III trials have demonstrated significant efficacy in reducing A1C levels and body weight, while ASC30's early clinical results indicate its potential for superior performance compared to existing treatments [2][3].