作为国内中医药产业头部企业，步长制药紧跟政策导向，近年来不断寻找出海突破，使"中国处方"既成 为国际医疗选项，更演变为东方哲学的价值载体。 五部门指导意见赋能 步长制药中药出海驶入"加速度" 目前，步长制药有超过170个产品（含独家和非独家）进入了2025版国家医保目录。独家产品数量为73 个（中成药占63个、化学药占9个、疫苗占1个），步长制药的1类新药注射用艾帕依泊汀α和首款生物 类似药阿达木单抗注射液正在加速冲刺，公司的创新转型不断提速，在产品创新、国际化布局、技术升 级等业务领域持续突破。 如今，从传统制造业的"产品输出"到高端产业的"技术标准输出"，从单一贸易的"走出去"到全球化运营 的"走进去"，中国企业的海外征程已迈入2.0时代。在这其中，中医药作为承载数千年中华文明的独特 产业名片，其企业出海既是文化软实力的具象延伸，更是我国在全球健康产业格局中抢占标准制定权与 价值链顶端的关键战略支点。 近日，山东步长制药股份有限公司控股子公司四川泸州步长生物制药有限公司（以下简称"泸州步长"） 与马来西亚公司MEDISPEC (M) SDN BHD（以下简称"MEDISPEC"）签署《独家供应协议》。根据 ...

如今，从传统制造业的"产品输出"到高端产业的"技术标准输出"，从单一贸易的"走出去"到全球化运营 的"走进去"，中国企业的海外征程已迈入2.0时代。在这其中，中医药作为承载数千年中华文明的独特 产业名片，其企业出海既是文化软实力的具象延伸，更是我国在全球健康产业格局中抢占标准制定权与 价值链顶端的关键战略支点。 目前，步长制药有超过170个产品（含独家和非独家）进入了2025版国家医保目录。独家产品数量为73 个（中成药占63个、化学药占9个、疫苗占1个），步长制药的1类新药注射用艾帕依泊汀α和首款生物 类似药阿达木单抗注射液正在加速冲刺，公司的创新转型不断提速。业绩增长的背后，是公司在产品创 新、国际化布局、技术升级等业务领域的持续突破。 近日，山东步长制药股份有限公司控股子公司四川泸州步长生物制药有限公司（以下简称"泸州步长"） 与马来西亚公司MEDISPEC (M) SDN BHD（以下简称"MEDISPEC"）签署《独家供应协议》。根据协 议，泸州步长将授权MEDISPEC作为马来西亚（目标区域）内独家代理商，负责注射用Efparepoetin alfa （目标产品）在该区域的注册、推广、分销及销售事 ...

Core Viewpoint - The company is facing a lawsuit related to a contract dispute involving approximately 652 million yuan, which may impact its inventory valuation and future profits [1] Group 1: Legal Issues - The company's subsidiary, Shanghai HePu, has filed a lawsuit against Jiemai Shanghai due to a contract dispute over the distribution agreement, with the court accepting the case [1] - The lawsuit involves around 550 million yuan worth of inventory that has not been transferred, posing a risk of inventory impairment [1] Group 2: Financial Performance - The company has experienced a decline in revenue for four consecutive years, with revenues of 160.07 billion yuan in 2020 dropping to an estimated 110.06 billion yuan in 2024 [2] - In the first three quarters of 2025, the company reported total revenue of 8.469 billion yuan, a slight decrease of 0.54% year-on-year, while net profit increased significantly by 177.54% to 868 million yuan [4] Group 3: Strategic Developments - The company plans to acquire six health food products for 7.5 million yuan to expand its presence in the health industry [5] - The acquisition involves obtaining the technical ownership of the products from six different independent entities, ensuring commercial production [6] Group 4: Market Performance - As of December 29, the company's stock price decreased by 1.16% to 16.26 yuan per share, with a total market capitalization of approximately 17.147 billion yuan [6]

Core Viewpoint - Recently, two major products from Buchang Pharma, Xuanfei Baidu Granules and Tongbianling Capsules, successfully passed the Indonesian Ministry of Health's review and obtained drug registration certificates [1] Group 1: Product Registration - Xuanfei Baidu Granules has previously been registered in Canada, Uzbekistan, and Kazakhstan [1] - Along with the new products, eight renewal registration products, including Buchang Stabilizing Granules, Kelu Oral Liquid, and Yangzheng Heji, were also successfully approved [1] Group 2: Market Expansion - Currently, Buchang Pharma has over 20 products listed for sale in Indonesia [1] - The addition of these new products not only enriches Buchang Pharma's product matrix in Indonesia but also represents a solid step in the "internationalization of traditional Chinese medicine" strategy [1] - This move highlights the unique value and broad recognition of traditional Chinese medicine on the international stage [1]

近日，2025年第九届21世纪大健康产业竞争力研究「阳光」案例正式揭晓，步长制药凭借在药物 研发领域的持续突破与在社会公益事业的深耕践行，一举斩获"年度药物研发创新企业"与"年度优 秀公益企业"两项重磅荣誉。 作为大健康产业极具权威性的年度评选，「阳光」案例由数字化智库型财经媒体领跑者《2 1 世 纪 经 济 报 道 》 与 2 1 世 纪 新 健 康 研 究 院 发 起 ， 历 经 九 年 沉 淀 已 成 为 行 业 高 质 量 发 展 的 " 风 向 标"。步长制药的双奖加冕，既印证了其在产业创新与社会责任领域的双重领先地位，也为医 药企业可持续发展提供了生动范本。 第 九 届 2 1 世 纪 大健康产业竞争力 ing t 研究 | 阳光 | 案例 DIE ESG实践 典 范 类 「阳光」年度优秀 必要要亦 * 步长制药 这一战略调整并非简单的业务扩张，而是基于医药产业发展趋势的精准预判。彼时，中国医 药行业正从"仿制药主导"向"创新药突破"跨越，在政策、技术、资本的推动下，创新药实现 快速发展。在这一进程中，步长制药始终与产业发展同频共振。 持 续 的 研 发 投 入 是 创 新 的 关 键 。 2 0 ...

近日，2025年第九届21世纪大健康产业竞争力研究「阳光」案例正式揭晓，步长制药（603858）凭借在 药物研发领域的持续突破与在社会公益事业的深耕践行，一举斩获"年度药物研发创新企业"与"年度优 秀公益企业"两项重磅荣誉。 作为大健康产业极具权威性的年度评选，「阳光」案例由数字化智库型财经媒体领跑者《21 世纪经济 报道》与21世纪新健康研究院发起，历经九年沉淀已成为行业高质量发展的"风向标"。步长制药的双奖 加冕，既印证了其在产业创新与社会责任领域的双重领先地位，也为医药企业可持续发展提供了生动范 本。 步长制药自成立以来，始终坚持以"聚焦大病种、培育大品种"为核心战略，依托脑心同治理论，成功打 造了脑心通胶囊、稳心颗粒和丹红注射液三个独家专利品种，形成了立足心脑血管市场、覆盖中成药传 统优势领域、聚焦大病种、培育大品种的立体产品格局。 未来，步长制药将布局大健康产业，以专利中药为基础，积极开拓化药、生物药、疫苗等领域，逐步构 筑起多维度竞争护城河。 研发驱动转型，构筑全产业创新壁垒 "年度药物研发创新企业"的荣誉，是步长制药三十余载深耕医药产业、以创新为核心发展引擎的必然结 果。 步长制药的创新基因，首 ...

Core Viewpoint - Baicheng Pharmaceutical (301096) is actively engaging in institutional research and has made significant advancements in its subsidiaries and partnerships, particularly in drug development and production capabilities [1][2][3]. Group 1: Company Developments - Baicheng Pharmaceutical's subsidiary, Saimer Pharmaceutical, has a construction area of over 260 acres and has completed 16.3 million square meters of GMP-standard facilities, with 617 projects verified and 461 registered, ranking among the top in the country [2]. - Saimer Pharmaceutical is set to bid for 12 products in the 11th national drug centralized procurement, showcasing its production capacity and market competitiveness, which is expected to accelerate capacity release and increase market share [2]. - The company has established a non-exclusive but close collaboration with the Hangzhou Institute of Advanced Studies, focusing on joint research in the life sciences, particularly in oncology, immunology, and respiratory diseases [3]. Group 2: Core Technology Platforms - The company's core technology platforms include an innovative drug R&D center, a high-end complex formulation platform, and a traditional Chinese medicine and natural product R&D center, with over 15 new drug pipelines covering various therapeutic areas [4]. - The innovative drug R&D center is led by experienced professionals and focuses on developing new drugs for neurological, autoimmune, and oncology indications [4]. - The high-end complex formulation platform addresses unmet clinical needs, while the traditional Chinese medicine center has over 40 projects in development, including a product already launched in Macau [4]. Group 3: Recent Innovations - Baicheng Pharmaceutical has over 15 self-developed new drug pipelines, with notable progress in drugs for daytime sleepiness caused by OS, autoimmune inflammation, and cancer, currently in various clinical and IND stages [5]. - The company has received three IND approvals for its first-class new drugs and is actively pursuing overseas collaborations to enhance growth potential [5]. Group 4: Financial Performance - In the third quarter of 2025, Baicheng Pharmaceutical reported a main revenue of 510 million yuan, a year-on-year decrease of 29.33%, and a net profit of 6.12 million yuan, down 95.68% [6]. - The company's gross profit margin stands at 48.98%, with a debt ratio of 34.49% and investment income of 26.69 million yuan [6]. - Recent institutional ratings indicate a mix of buy and hold recommendations, reflecting varying expectations for future performance [7].

Core Viewpoint - Hangzhou Baicheng Pharmaceutical Technology Co., Ltd. (Baicheng Pharmaceutical) is actively engaging with various investment institutions to discuss its subsidiary, Saimo Pharmaceutical's recent developments, collaborations with the University of Science and Technology of China Hangzhou Institute, and advancements in core technology platforms and innovative drug research [1] Group 1: Saimo Pharmaceutical Developments - Saimo Pharmaceutical has made significant progress in production capacity and has successfully bid in the 11th national centralized drug procurement, with 12 products expected to be awarded, showcasing its competitive market position [2] - The company has established a production facility covering over 260 acres, with 163,000 square meters of GMP-compliant buildings and laboratories, and has completed 617 project verifications and registered 461 projects [2] Group 2: Collaboration with University of Science and Technology of China - Baicheng Pharmaceutical has been collaborating with the University of Science and Technology of China Hangzhou Institute since 2022, focusing on innovative drug development in areas such as biomedicine and respiratory diseases [3] - The partnership includes establishing a research platform, enhancing technical discussions, and sharing resources between academia and industry [3] Group 3: Core Technology Platforms - The company has three main technology platforms: the innovative drug research center, the high-end complex formulation platform, and the traditional Chinese medicine and natural drug research center, promoting multi-field collaborative development [4] - The innovative drug research center is led by experienced professionals and has over 15 new drug pipelines targeting neurology, autoimmune diseases, and oncology [4] Group 4: Innovative Drug Pipeline Progress - Baicheng Pharmaceutical has more than 15 self-developed new drug pipelines, including projects for treating obstructive sleep apnea and autoimmune inflammation, with three class 1 new drugs having received IND approvals [5] - The company plans to accelerate overseas collaborations in innovative drug development and enhance its AI drug platform and organoid platform to improve research efficiency [5]

Group 1: Company Overview - The company is Hangzhou Baicheng Pharmaceutical Technology Co., Ltd., with stock code 301096 and abbreviation Baicheng Pharmaceutical [1] Group 2: Subsidiary Progress - Subsidiary Simmer Pharmaceutical has a construction area of approximately 260 acres, with 163,000 square meters of GMP-standard facilities [2] - Simmer has completed 617 project verifications and registered 461 projects, ranking among the top in the country [2] - In the 11th batch of national drug centralized procurement, Simmer is expected to win bids for 12 products, enhancing its production capacity and market share [2] Group 3: Collaborations - The company collaborates closely with the Hangzhou Institute of Advanced Studies at the University of Science and Technology of China, establishing a joint R&D center since 2022 [3] - The joint laboratory has been recognized as a key laboratory in Zhejiang Province for 2024, focusing on innovative drug development in various fields [3] Group 4: Core Technology Platforms - The company has three main technology platforms: innovative drug R&D center, high-end complex formulation platform, and traditional Chinese medicine and natural drug R&D center [3] - Over 15 new drug pipelines have been established, covering areas such as neurobiology, autoimmune diseases, and oncology [3] Group 5: Innovative Drug Development - The company is advancing over 15 self-developed new drug pipelines, including drugs for OSA-related daytime sleepiness, autoimmune inflammation, and tumors [3] - The drug Bios-0618 for OSA is currently in the clinical phase II enrollment stage, while Bios-0625 for autoimmune inflammation is in the IND application stage [3] - The company has obtained 3 IND approvals for its first-class new drug and is actively pursuing overseas collaborations to enhance growth potential [3]

Group 1 - The article highlights the achievements of Zhao Buchang in the field of traditional Chinese medicine, particularly his contributions to the development of innovative products like brain-heart capsules and stable heart granules [2][4] - It emphasizes the ambition for high-quality development in traditional Chinese medicine, focusing on scientific, clinical, preventive, and economic values to support a healthy China [4][5] - The narrative reflects a commitment to delivering quality medicine to the public and leveraging high technology to enhance the traditional medicine industry, showcasing a vision for the future of Chinese medicine [5] Group 2 - The article mentions the "Step Chang Pharmaceutical 75 Blueprint," indicating a strategic plan for the company's future growth and expansion in the global market [4] - It underscores the importance of addressing cardiovascular diseases through the "brain-heart co-treatment" approach, marking a new era in healthcare [5]