Core Viewpoint - Semaglutide and Tirzepatide are two commonly used GLP-1 receptor agonists for the treatment of type 2 diabetes and obesity, each with distinct structural and functional differences [2][10]. Mechanism of Action - Semaglutide primarily stimulates insulin secretion from pancreatic beta cells, enhances glucose metabolism, and suppresses glucagon secretion, leading to reduced fasting and postprandial blood glucose levels [3]. - In contrast, Tirzepatide acts as a dual agonist for GLP-1 and GIP, activating GLP-1 receptors while mimicking natural GIP, with a weaker ability to drive GLP-1 receptor internalization compared to Semaglutide [5]. Clinical Efficacy - Clinical studies show that Semaglutide leads to significant weight loss; for instance, in the STEP 1 trial, patients lost an average of 14.9% of their body weight after 68 weeks on a 2.4 mg dose [6]. - Tirzepatide demonstrated even greater weight loss in the SURMOUNT-1 and SURMOUNT-2 phase III trials, with the highest dose group (15 mg) achieving an average weight loss of 20.9%, approximately 22 kg [6]. Side Effects - Both medications can cause similar gastrointestinal side effects, including nausea, diarrhea, vomiting, constipation, abdominal pain, bloating, and indigestion, typically mild to moderate and occurring early in treatment [7]. - However, Tirzepatide may reduce these side effects due to its action on GIP receptors, leading to fewer reported side effects and enhanced satiety [9]. Approved Indications - Semaglutide is approved for the treatment of type 2 diabetes and obesity, including use in adolescents aged 12 and older [10]. - Tirzepatide has been approved in China for weight management in patients with a BMI ≥ 28 kg/m² or those with a BMI between 24-28 kg/m² with at least one comorbidity [10][11]. Administration Method - Both Semaglutide and Tirzepatide are administered via subcutaneous injection once a week, with Semaglutide also available in an oral tablet form (Rybelsus) for patients who prefer not to inject [12]. Conclusion - In summary, Semaglutide and Tirzepatide exhibit unique characteristics in terms of weight loss efficacy, mechanisms of action, side effects, and approved indications, necessitating patient-specific treatment decisions based on health status and medical advice [14].

从归母净利润增速来看，6家企业实现同比增长超100%。8月23日，科兴生物制药股份有限公司公告 称，公司2025年上半年归母净利润实现8034.45万元，同比增长576.45%，成为行业"增速王"；成都圣诺 生物科技股份有限公司（以下简称"圣诺生物"）以308.29%的同比增速位居行业第二；金凯（辽宁）生 命科技股份有限公司（以下简称"金凯生科"）以123.61%的同比增速，位居行业第三。 当前，上市公司2025年半年报正在密集披露中，多家创新药企在营收、归母净利润等核心指标上表现亮 眼，行业整体展现良好发展态势。Wind数据显示，截至8月24日，共计39家创新药企发布2025年半年度 业绩报告，其中27家归母净利润变动幅度实现正增长，占比达69.23%，更有6家企业归母净利润同比增 长超100%。 盘古智库高级研究员江瀚表示，通过这一成绩单可以看出行业已经走出了低谷期，盈利动能显著恢复。 从周期位置判断，利润增长开始兑现，标志着行业正从"投入期"迈入"收获期"，整体进入温和扩张阶 段，景气度处于回升通道。 6家净利同比增长超100% 从营收规模来看，3家企业位处"百亿元梯队"。华东医药股份有限公司（以下简称 ...

整理 | GLP1减重宝典内容团队 Viking Therapeutics 股价周二暴跌，此前公司公布的肥胖症口服药 中国国家药监局药品审评中心（CDE）官网近日公示，安进申报的1类新药AMG获得临床试验默示许可，拟用于 射血分数保留的或轻度降低 的心力衰竭合并肥胖。 | 44 | JXSL2500096 | AMG 133 | Amgen Inc. | 射血分数保留的或轻度 降低的心力衰竭合并肥 | 1 | | --- | --- | --- | --- | --- | --- | | | | | | 胖 | | | 45 | JXSL2500095 | AMG 133 | Amgen Inc. | 射血分数保留的或轻度 降低的心力衰竭合并肥 | 1 | | | | | | 胖 | | | 46 | JXSL2500094 | AMG 133 | Amgen Inc. | 射血分数保留的或轻度 降低的心力衰竭合并肥 胖 | 1 | | 47 | JXSL2500093 | AMG 133 | Amgen Inc. | 射血分数保留的或轻度 降低的心力衰竭合并肥 胖 | 1 | | 48 | JXSL2500 ...

整理 | GLP1减重宝典内容团队 ▍ 一半的人在一年内停止治疗 与安慰剂对照组相比，GLP-1 受体激动剂（如司美格鲁肽和替尔泊肽）分别在治疗 68 周和 72 周后导致体重减轻15%-20%。尽管多项 研究报告了这些减肥药的积极作用， 但由于其不良的胃肠道影响和高成本，长期坚持这些治疗很困难 。多达一半的人在处方的第一年 内停止治疗。 肥胖是一种与体内多余脂肪堆积有关的健康状况。多项研究表明， 肥胖不仅对健康造成多系统性损害，还与多种并发症和合并症密切 相关 ，包括代谢紊乱（如脂肪肝、胆结石、不孕、心脑血管疾病等）、躯体异常（如哮喘、胃食管反流、关节炎等）以及精神健康问 题（如抑郁、焦虑等）。近年来，已经开发出许多治疗方法和减肥计划来减少肥胖。例如，GLP-1 受体激动剂已获得全球监管机构批 准用于治疗肥胖和 2 型糖尿病。已证明 GLP-1 受体激动剂可以减少食欲，从而减少食物摄入量。 减肥的最大挑战之一是维持减肥效果。尽管这些新疗法很有效，但仍然看到很多人在停止治疗后体重反弹。许多研究表明，停用 GLP- 1 受体激动剂会导致体重增加。这些观察结果强调了继续使用 GLP-1 受体激动剂作为长期有利效果 ...

Core Viewpoint - The company reported strong financial performance for the first half of 2025, with significant revenue and profit growth driven by international expansion and improved operational efficiency [1] Financial Performance - In 2025 H1, the company achieved revenue of 549 million yuan (+114.86%) and a net profit attributable to shareholders of 145 million yuan (+1504.3%), with a non-recurring net profit of 123 million yuan (+306.59%) [1] - For Q2 2025, revenue reached 239 million yuan (+127.07%), net profit attributable to shareholders was 76 million yuan (+1919.66%), and non-recurring net profit was 58 million yuan (+232.49%) [1] - The company's international business revenue was 425 million yuan (+272.76%), accounting for 77.40% of total revenue, up from 55.1% in 2024 [1] Business Segments - **Peptide Formulations**: The company is expanding its product matrix and promoting international commercialization of existing products, with 18 varieties passing or deemed equivalent to consistency evaluation [2] - **API (Active Pharmaceutical Ingredients)**: The company is actively pursuing international market expansion, with new production capacities ramping up. As of 2025 H1, the Wuhan subsidiary obtained 33 production licenses for peptide APIs [3] - **Small Nucleic Acids**: The company is positioning itself to benefit from the growing demand for small nucleic acid drugs, with ongoing development of related products and capacities [3] - **CRDMO (Contract Research, Development, and Manufacturing Organization)**: The company has achieved international certifications and is expanding its CRDMO services to provide a comprehensive offering to global clients [3] Future Outlook - The company anticipates revenue growth from 1.099 billion yuan in 2025 to 1.941 billion yuan in 2027, with corresponding net profits expected to rise from 273 million yuan to 576 million yuan [4]

整理 | GLP1减重宝典内容团队 "当使用 GLP-1 受体激动剂的患者体重减轻（甚至增加）时， 了解身体成分的潜在变化非常重要 ，包括内脏和皮下脂肪量、腹部肌肉 体积和质量、骨矿物质密度和器官特性（例如肝脏体积和衰减）"，通讯作者、威斯康星大学医学与公共卫生学院放射学和医学物理系 的医学博士 Perry J. Pickhardt 及其同事解释道。"这些身体成分测量无法从标准临床评估（例如体重、腰围和 BMI）中得出，可作为 心脏代谢疾病、虚弱和死亡风险的生物标志物。" 点击关注，追踪最新GLP-1资讯 ▍ 司美格鲁肽等GLP-1药物不仅能改变人体的外在外观，还能改变身体成分 衡量减肥效果的标准临床指标并不能全面反映减肥效果对整体健康的影响。另一方面，通过 CT 扫描得出的身体成分指标可以从心脏 代谢的角度更深入地了解减肥对身体的影响。研究人员最近在《美国放射学杂志》的新研究中详细描述了司美格鲁肽如何影响身体成 分。 ▍ 使用司美格鲁肽后， 身体成分的所有变化都是积极的，有利于心脏代谢健康 在这项研究中，研究人员分析了 241 名服用司美格鲁肽的患者的 腹部 CT 扫描 ，这些患者在服药前五年和服药后五年都 ...

编者荐语： 日经中文网与36氪开展内容交换合作。将精选36氪的精彩独家财经、科技、企业资讯，与读者分享。 以下文章来源于36氪Pro ，作者胡香赟 36氪Pro . 36氪旗下官方账号。深度、前瞻，为1%的人捕捉商业先机。 文 ｜ 胡香赟 编辑 ｜ 海若镜 封面来源 ｜ 日经中文网 创新药新股"节节高"的表现还在继续。 在注射类GLP-1药物的开发上，更少的用药频次、更好的治疗效果和更强的安全性，已经是公认的竞争方向。尤其是珠玉在前， 后来者如果不在其中的某个指标上形成突出优势，已经很难挤进GLP-1的赛场上。 8月15日，GLP-1（胰高血糖素样肽-1）概念企业银诺医药在港交所挂牌，盘中涨幅一度达300%，最终收涨200%、市值260亿。 上市前一日，公司暗盘涨幅超过270%，且打新环节十分火爆，公开发售部分取得5364倍超额认购，甚至已经超过了蜜雪冰城的 5257倍超购。 司美格鲁肽、替尔泊肽"走红"后这两年，想凭借GLP-1标签上港股的企业不少，比如此前的九源基因、派格生物，在彼时还没有 产品获批的情况下，仅仅是凭借生物类似药或外企原研药的改良版本就成功上市。 相较之下，银诺医药的"硬实力"相对突出，且 ...

行 行业周报 业 业绩密集披露，关注超预期标的 研 究 分析师： 侯雅楠 SAC NO： S1150524120001 2025 年 08 月 22 日 houyn@bhzq.com （1）国家医疗保障局印发《医疗保障按病种付费管理暂行办法》； 医药生物 投资要点： 证券分析师 侯雅楠 行业要闻 022-23839211 （2）司美格鲁肽获美国食品药品监督管理局（FDA）批准治疗 MASH。 研究助理 公司公告 近三月行业指数走势图 （1）恒瑞医药：①公布 2025 年半年度报告；②药品上市许可申请获受理； 证 券 （2）百利天恒：①公布 2025 年半年度报告；②关于 iza-bren（EGFR×HER3 双抗 ADC）用于治疗晚期 EGFR 突变的非小细胞肺癌获得美国 FDA 突破性 疗法认定； 研 （3）荣昌生物：①NMPA 药品审评中心（CDE）授予 RC148 突破性治疗药 物认定用于治疗非小细胞肺癌；②签署授权许可协议； 报 相关研究报告 医疗器械关注度提升，关注相 （4）百奥泰：①公布 2025 年半年度报告；②与 STADA 就 BAT1806（托珠 单抗）注射液签署授权许可与商业化协议；③U ...

整理 | GLP1减重宝典内容团队 ▍ 司美格鲁肽 具有"深远的益处"，可降低因各种原因导致的死亡率 减肥药有望通过减缓衰老过程、让人们活得更长寿、更健康而彻底改变医疗保健。这是在伦敦举行的欧洲心脏病学会会议上发表研究 报告后，顶尖科学家发出的惊人信息。 研究已经发现， 司美格鲁肽 （也称为 Wegovy 和 Ozempic）可以降低肥胖或超重并患有心血管疾病的人的死亡风险。 但最新研究发现，Ozempic 的影响超出了人们最初的想象。研究人员发现， 服用该药的人死于各种原因的几率都较低，而不仅仅是心 血管原因。 " 司美格鲁肽 的益处超出了我们最初的想象，"耶鲁大学医学院的哈兰·克鲁姆霍兹教授说。"它不仅仅是避免心脏病发作。它还能促进 健康。通过这种方式改善人们的健康实际上会减缓衰老过程，这并不令我感到惊讶。" 这项研究来自美国的 Select 试验，该试验研究了 17,604 名 45 岁或以上超重或肥胖且患有心血管疾病但没有糖尿病的人。他们接受了 司美格鲁肽 或安慰剂治疗，并被跟踪了三年多。 点击关注，追踪最新GLP-1资讯 研究期间共有 833 名参与者死亡，其中 58% 与心血管原因有关，42% 与 ...

Core Viewpoint - The article discusses the evolving concept of diabetes remission, highlighting the increasing prevalence of diabetes globally and the need for new management strategies that focus on patient-centered approaches [5][6][19]. Summary by Sections Global Diabetes Prevalence - As of 2021, there are 537 million diabetes patients aged 20-79 worldwide, projected to exceed 783 million by 2045. The global medical expenditure related to diabetes reached $966 billion in 2021 [5]. Evolution of Diabetes Remission Concept - The traditional belief that type 2 diabetes is incurable has been challenged by new findings, particularly a 1992 study showing that 86.5% of patients achieved long-term normal blood sugar levels post metabolic surgery. The medical community reached a consensus in 2021 defining remission as maintaining HbA1c below 6.5% after stopping diabetes medication [8][10]. Controversies and Limitations of Current Standards - The current definition of diabetes remission faces challenges, including: 1. Over-reliance on blood sugar metrics, potentially overlooking other health risks [10]. 2. The requirement to stop medication may be inappropriate given the protective effects of new diabetes drugs [11]. 3. Psychological burdens on patients due to blood sugar fluctuations, leading to feelings of personal failure [12]. Four Scientific Strategies for Diabetes Remission - 1. **Lifestyle Interventions**: Strict dietary management and exercise can lead to remission, but maintaining these changes is challenging [13]. - 2. **Very Low-Calorie Diets**: Short-term diets (800-1200 kcal/day) can lead to significant weight loss and remission rates of 46% within a year, but require high adherence [14]. - 3. **New Medications**: GLP-1 receptor agonists and SGLT2 inhibitors not only control blood sugar but also provide cardiovascular protection, potentially redefining remission standards [15]. - 4. **Metabolic Surgery**: Effective for obese diabetes patients, with a remission rate of 72.3% within two years, but requires ongoing management to prevent weight regain [16]. Future Directions - The standards for diabetes remission need optimization, potentially moving towards: - Personalized definitions based on patient characteristics [17]. - Inclusion of protective medications in remission strategies [18]. - Dynamic assessments of remission as an ongoing process rather than a binary outcome [19].