Core Viewpoint - Company is expected to achieve a revenue and net profit CAGR of 10% and 15% respectively from 2024 to 2026, driven by the sustained growth of existing major products like Tebiou and Mandi, as well as the rapid market entry of new products [1] Group 1: Existing Core Products - The competitive landscape for the core product Tebiou is favorable, with expectations for continued sales performance exceeding forecasts [2] - Tebiou is the only drug approved for the CIT indication globally, with potential to replace IL-11 class competitors and increase market share [2] - The sales CAGR for Tebiou is projected to reach 11% from 2024 to 2026, with a long-term sales peak expected to reach 7 billion RMB [2] Group 2: Mandi's Growth Potential - Mandi is anticipated to maintain sales growth over a long period, with a peak expected to reach 2.5 billion RMB [3] - The growth is driven by a large and increasingly younger population suffering from hair loss, as well as a dual-channel marketing strategy enhancing brand recognition [3] - The introduction of new products like Winlevi® and semaglutide is expected to leverage Mandi's established brand and commercialization channels for rapid market entry [3] Group 3: Innovation Pipeline - The company is on the verge of a product innovation phase, with 30 products in the pipeline as of Q1 2025, 12 of which are expected to be approved in China by 2025-2027 [4] - The focus is on rapid iteration in key therapeutic areas such as hematology, oncology, autoimmune diseases, and metabolic disorders [4] - A significant licensing agreement with Pfizer for the self-developed PD-1/VEGF dual antibody SSGJ-707, with a total transaction value of up to 6.05 billion USD, underscores the company's drug development capabilities [4]

智通财经APP讯，歌礼制药-B(01672)发布公告，同类首创(first-in-class)、每日一次口服小分子脂肪酸合成酶(FASN)抑制剂地尼法司他(ASC40)治疗中重度寻 常性痤疮的 III期临床试验(NCT06192264)达到所有主要、关键次要及次要终点。 主要、关键次要及次要终点可见表2。主要终点包括治疗成功百分比(治疗成功的定义为在第12周时，研究者总体评估(Investigator's Global Assessment，IGA) 评分较基线下降至少2分，且IGA分级为0分(光洁)或1分(几乎光洁))、总皮损计数相对基线百分比下降，以及炎性皮损计数相对基线百分比下降。第12周时， 地尼法司他治疗组治疗成功百分比为33.2%，而安慰剂组为14.6%，p <0.0001;地尼法司他治疗组总皮损计数相对基线百分比下降是57.4%，而安慰剂组为 35.4%，p <0.0001;以及，地尼法司他治疗组炎性皮损计数相对基线百分比下降是63.5%，而安慰剂组为43.2%，p <0.0001。第12周时，非炎性皮损计数相对 基线百分比下降(关键次要终点)，地尼法司他治疗组为51.9%，而安慰剂组为28.9 ...