Core Insights - The implementation of policies such as "Two Invoice System" and "Volume-based Procurement" has disrupted traditional pharmaceutical distribution models, compressing profit margins for generic drugs and forcing pharmaceutical companies to shift towards specialized marketing services [1][13] - The market size of the Contract Sales Organization (CSO) industry in China is projected to reach 137.5 billion yuan in 2024, representing a year-on-year growth of 17.72%, and accounting for 32.74% of the overall pharmaceutical outsourcing market [1][13] - As competition intensifies in the pharmaceutical industry, companies are expected to focus on research and production, outsourcing sales functions to professional CSO firms to enhance market efficiency [1][13] Industry Overview - Pharmaceutical outsourcing (CXO) involves the professional outsourcing of various stages of drug discovery, clinical research, and commercialization by pharmaceutical companies, categorized into Contract Research Organizations (CRO), Contract Development and Manufacturing Organizations (CDMO), Contract Manufacturing Organizations (CMO), and Contract Sales Organizations (CSO) [2] - CSOs sign sales contracts with drug manufacturers to obtain sales rights and provide services such as market research, project consulting, promotional activities, and clinical discussions, earning revenue from consultation and service fees [3] Development Background - The Chinese government has prioritized the development of the pharmaceutical outsourcing industry, implementing numerous supportive policies that have accelerated growth, particularly in the CSO segment, which benefits from regulatory incentives [6] - Increasing regulatory scrutiny in the pharmaceutical sector has heightened compliance requirements for CSO firms, necessitating adherence to laws governing drug management, anti-competitive practices, and advertising [6] - The aging population in China has led to increased demand for pharmaceutical products, providing significant market opportunities for the CSO industry [6] Market Size and Growth - The CSO industry in China is expected to grow significantly, with a market size of 137.5 billion yuan in 2024, reflecting a 17.72% increase from the previous year [1][13] - The pharmaceutical manufacturing sector is also expanding, with the number of enterprises reaching 9,793 in 2024, a 4.05% increase, and total sales revenue of 25,298.5 billion yuan, a 0.37% increase [11] Competitive Landscape - The CSO industry in China is characterized by a fragmented market with numerous participants, including major players like Yiteng Pharmaceutical, Shanghai Pharmaceuticals, Baiyang Pharmaceutical, and Jiuzhoutong [16] - Jiuzhoutong, leveraging its national distribution network, provides comprehensive promotional services and has established a significant market presence [16][18] - Shanghai Pharmaceuticals is a leading national pharmaceutical distributor with a diverse service platform, reporting total revenue of 275.3 billion yuan in 2024 [20] Future Trends - As competition in the pharmaceutical market intensifies, CSO firms will need to enhance their professional service capabilities in market research, product planning, academic promotion, and compliance management [22] - CSOs are expected to focus on personalized service offerings tailored to the specific needs of different pharmaceutical companies and products, including differentiated marketing strategies for innovative and generic drugs [22]

合并后公司拥有以景助达及GB491治疗晚期或转移性HR+/HER2-乳腺癌的协同专营权。 本文为IPO早知道原创 嘉和生物向亿腾医药股东发行新股作为对价， 亿腾医药、嘉和生物在此次交易中的股权价值分别为 6.77亿美元和1.97亿美元。 亿腾医药股东将持有 合并公司 77.43%的股份，成为 合并公司的 控股 股东，而嘉和生物的股东则持有 其余 的 22.57%股份。 亿腾医药 从一家 CSO发展成综合型生物医药公司， 专注于在中国研究、开发及商业化具有巨大市 场需求的治疗药物。公司通过向跨国公司收购品牌药物资产，以及从全球生物制药公司授权引进创新 专利药物的开发及商业化权利，已建立多元化产品组合 ， 主要覆盖 抗感染、 CVD及呼吸系统 疾病 。 其主要产品包括 3 款 原研药 稳可信、希刻劳 、 亿瑞平 、 2款创新药 Vascepa 、 Mulpleta ， 及 其他产品包括 H景助达、罗可曼均已经实现商业化。 同时 ，亿腾 医药通过 获得跨国公司转让生产设施及管理体系并实施运营，拥有了 符合国际标准 的 制造、供应链管理、技术转移及质量控制体系。 公司在中国 31个省份拥有1000名销售代表，覆盖约1 ...

智通财经APP获悉，据港交所4月15日披露，嘉和生物-B(06998)向港交所递交上市申请书。亿腾医药通过换股方式反向收购嘉和生物，合并后公司更名为"亿 腾嘉和医药集团有限公司"。摩根士丹利和浦银国际为新上市申请联席保荐人。 | 治療領域 | 候還產品 | 檀應症 | 作用機制 | 分類 | 來源 | 搜量 | 產品權利 | IND | I/II期 | 川期 | 新疆 新疆 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 原研產品 | | | | | | | | | | | | | 抗感染 | 穩可信 | JIRSA | 糖肽 | 原研樂 | 收購藥品 | 禮來 | 中國、意大利 | | | | | | | 希刻勞 | 草蘭氏 陽性／陰性 頭孢菌素 細菌感染! | | | 原研藥 收購藥品 | 禮來 | 中國 | | | | | | 呼吸系統 | 億瑞平 | 哮喘 | ICS | | 原研藥 收購藥品 | GSK | 中國、荷蘭 | | | | | | 創新產品 | | | | | | | | | | ...