在研管线方面，截至2025年9月底，上海医药提交临床试验申请获得受理及进入后续临床试验阶段的新 药管线共计57项，含创新药管线45项。其中，BCD-085作为创新型重组人源抗白介素-17(IL-17)单克隆 抗体，针对强直性脊柱炎的新药上市申请已于报告期内提交；拟用于治疗轻、中度脊髓型颈椎病的中药 1.1类新药参芪麝蓉丸的三期临床试验已完成全部受试者入组；靶向CD19和CD22的CAR-T注射液 B019，其针对儿童急性淋巴细胞白血病、成人淋巴瘤的一期临床试验已完成部分受试者入组，针对难 治性系统性红斑狼疮的临床试验申请已获批准。 推动中药走向世界方面，公司旗下和黄药业的正气片和胆宁片均已成功出口至加拿大，其中，胆宁片成 为我国首个由生产企业自主持证、以西医适应症药品身份进入加拿大市场的中药复方制剂。 展望未来，上海医药表示，将坚持创新引领，深入探索以全产业链为支撑的可持续发展模式，在服 务"健康中国"战略的同时，为股东、患者及社会进一步创造不断增长的长期价值。 本报讯(记者金婉霞)10月30日，上海医药（601607）集团股份有限公司(以下简称"上海医药")发布2025 年第三季度报告。数据显示，今年前三季 ...

Core Insights - Shanghai Pharmaceuticals reported a revenue of 215.07 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 2.6% [1] - The company achieved a net profit attributable to shareholders of 5.15 billion yuan, marking a significant increase of 26.96% year-on-year [1] Financial Performance - Total revenue for the first three quarters: 215.07 billion yuan [1] - Pharmaceutical manufacturing sales: 18.16 billion yuan [1] - Pharmaceutical commercial sales: 196.91 billion yuan [1] - Net profit attributable to shareholders: 5.15 billion yuan [1] - Year-on-year net profit growth: 26.96% [1] Research and Development - R&D investment for the first three quarters: 1.73 billion yuan [1] - Total new drug pipeline: 57 items, including 45 innovative drugs [1] - NDA submission for BCD-085, an innovative monoclonal antibody for ankylosing spondylitis [1] - Completion of subject enrollment for the Phase III clinical trial of a traditional Chinese medicine for cervical spondylotic myelopathy [1] - Ongoing Phase I clinical trial for CAR-T injection B019 targeting pediatric acute lymphoblastic leukemia and adult lymphoma [1] Brand and Market Strategy - Shanghai Pharmaceuticals is focusing on brand rejuvenation to meet young consumer demands [2] - Launch of the "Ten Complete Series" food paste under the Lei's brand and the "Zero Snack Nourishment" concept under the Shenxiang brand [2] - Successful export of traditional Chinese medicine products to Canada, including the first self-certified compound preparation [2] - Strategic partnerships with companies like Baxter China and others to provide comprehensive health solutions [2]

Core Insights - Shanghai Pharmaceuticals reported a revenue of 215.07 billion yuan for the first nine months of 2025, a year-on-year increase of 2.60%, with pharmaceutical manufacturing sales at 18.16 billion yuan and pharmaceutical commerce sales at 196.91 billion yuan, up 2.91% year-on-year [1] - The company achieved a net profit attributable to shareholders of 5.15 billion yuan, reflecting a significant year-on-year growth of 26.96% [1] R&D Investment and Pipeline Progress - The company maintained a high level of R&D investment at 1.73 billion yuan, accounting for 9.52% of pharmaceutical manufacturing sales, with R&D expenses at 1.51 billion yuan [2] - As of the reporting period, the company had 57 new drug pipelines accepted for clinical trials, including 45 innovative drugs [2] - Notable advancements include the NDA submission for BCD-085, a monoclonal antibody for ankylosing spondylitis, and the completion of patient enrollment for the Phase III trial of a traditional Chinese medicine for cervical spondylotic myelopathy [2] Traditional Chinese Medicine Business - The traditional Chinese medicine segment achieved breakthroughs through "innovation while maintaining integrity," with key clinical studies completed for several core products [3] - The company successfully exported its traditional Chinese medicine products to Canada, marking a significant step in internationalization [3] Rare Disease Initiatives - The company views rare disease treatment as a key aspect of its corporate social responsibility, focusing on R&D, supply chain, and ecosystem development [4] - A dedicated rare disease R&D team has been established, with multiple pipelines under development, including SRD4610 for amyotrophic lateral sclerosis [4] - The company has 51 products for rare diseases, covering 67 different rare disease conditions [4] Pharmaceutical Commerce Growth - The pharmaceutical commerce segment continued to grow through innovation, with strategic partnerships with companies like Baxter China and others [5] - The innovative drug business saw sales revenue of 40.7 billion yuan, a year-on-year increase of over 25%, while the import agency business generated 27.6 billion yuan, up over 14% [5] New Retail Strategy and Digital Transformation - The company is advancing its new retail strategy focused on "hospital-side pharmacies + DTP specialty pharmacies," leveraging AI to enhance traditional business operations [6] - The digital upgrade of pharmaceutical services through Shenyang Health aims to provide comprehensive health management services for patients [6]

10月30日晚，上海医药（601607）集团股份有限公司(601607.SH；02607.HK；以下简称"上海医 药"或"公司")发布2025年第三季度报告。2025年1—9月，公司实现营业收入2150.72亿元(人民币，下 同)，同比增长2.60%，其中：医药工业销售收入181.64亿元，医药商业销售收入1969.08亿元，同比增长 2.91%。公司实现归母净利润51.47亿元，同比增长26.96%，其中：工业板块贡献利润16.65亿元，商业 板块贡献利润26.53亿元，主要参股企业贡献利润3.24亿元。2025年1—9月，公司经营性现金流净流入 23.50亿元，持续保持高质量发展。 上海医药始终将罕见病防治视为践行企业社会责任的重要方向，为破解患者用药难题、完善罕见病防治 生态，公司从研发、供应、生态构建三大维度持续发力。 研发投入保持高水平，新药管线稳步推进 研发创新作为公司发展的核心驱动力，持续释放活力。公司坚持高水平研发投入，2025年1—9月研发投 入17.29亿元，占医药工业销售收入的9.52%。其中：研发费用15.15亿元。 截至报告期末，公司提交临床试验申请获得受理及进入后续临床试验阶段的新 ...