Core Viewpoint - Changfeng Pharmaceutical (02652) has received acceptance for its application for the marketing authorization of Budesonide nasal spray from the National Medical Products Administration of the People's Republic of China [1] Product Pipeline - The nasal spray is a complex formulation with high technical barriers, and the company has established a comprehensive product matrix covering various indications and full-course management of respiratory and rhinitis conditions [1] - Existing products in the company's portfolio include: - Fluticasone furoate nasal spray (Shu Fei Min): The first antihistamine-steroid combination nasal spray in China, included in the National Medical Insurance Drug List in 2023 [1] - Mometasone furoate nasal spray: A first-line medication for allergic rhinitis in adults and children aged 3 and above [1] - Budesonide nasal spray (the product in question): Suitable for patients aged 6 and above, targeting seasonal acute episodes, perennial maintenance treatment, and nasal polyps [1] - Olopatadine/Mometasone nasal spray: For moderate to severe allergic rhinitis symptoms in adolescents aged 12 and above and adults [1] Strategic Intent - The acceptance of the Budesonide nasal spray application further enriches the company's product pipeline in the allergic rhinitis field, demonstrating the company's commitment and capability to deepen its layout in the respiratory inhalation treatment sector, providing quality treatment options for patients [1] - The company will actively communicate with the NMPA and advance subsequent review procedures according to regulatory requirements [1]