整理 | GLP1减重宝典内容团队 2025年最新兴奋剂目录已正式发布，共收录400种/类药物，与2024年相比新增9种，其中包括： 蛋白同化制剂：95种（无新增） 肽类激素：75种（新增2种） 麻醉药品：14种（无新增） 刺激剂（含精神药物）：84种（新增2种） 易制毒化学药品：3种（无新增） 医疗用毒性药品：1种（无新增） 刺激剂新增2种分别为： 序号241：米多君 序号265：替索芬辛 其他药品新增5种分别为： 序号323：艾拉司群 其他药品：128种（新增5种） 肽类激素新增的2种分别为： 序号159：S519 序号160：S597 序号351：MOTS-c 序号375：S-107 序号376：S48168 序号400：希帕胺 司美格鲁肽是否属于兴奋剂？ 近期有多篇公众号文章称司美格鲁肽属于兴奋剂，但这一说法并不准确。2025年目录中并未列入司美格鲁肽。 原因如下： 目录中胰岛素类位于肽类激素部分，编号为142号。 司美格鲁肽属于GLP-1受体激动剂，而2025年目录并未涉及GLP-1或其类似物。目录中唯一相关的是141号"胰岛素样生长因子1（IGF- 1，美卡舍明）及其类似物"。 IGF-1（ins ...

Investment Rating - The report maintains an "Outperform" rating for the industry [1] Core Insights - There is an unmet clinical need in HR+/HER2- breast cancer (BC), which accounts for approximately 60-70% of all breast cancer cases globally [2][8] - New mechanism drugs are expected to extend chemotherapy-free survival for HR+/HER2- BC patients, with a focus on overcoming resistance to endocrine therapy (ET) and enhancing the efficacy of CDK4/6 inhibitors [2][40] - The report highlights the potential of various new target molecules and mechanisms to improve patient outcomes and expand market size [2][40] Summary by Sections 1. Unmet Clinical Needs in HR+/HER2- BC - HR+/HER2- BC is the most common subtype of breast cancer, with significant unmet clinical needs, especially for patients with specific mutations [2][8] - Current treatment options, including ET and CDK4/6 inhibitors, are limited for patients who progress after first-line therapy [2][40] 2. Endocrine Therapy: New Mechanism Molecules to Overcome Resistance - New generation oral SERDs and ER PROTACs are promising in overcoming resistance caused by ESR1 mutations [2][40] - The estrogen signaling pathway plays a critical role in breast cancer, and targeting this pathway is essential for effective treatment [13][48] 3. CDK Inhibitors: Partners in ET to Extend Treatment Duration - CDK4/6 inhibitors significantly improve progression-free survival (PFS) when combined with ET in first-line treatment [14][25] - There is a need for new mechanism molecules targeting the CDK-cyclin pathway to address resistance after first-line therapy [2][40] 4. Other New Target Molecules: Potential to Extend Chemotherapy-Free Survival - Activation of the PI3K/AKT/mTOR pathway is a common resistance mechanism in HR+/HER2- BC, with several products already approved for treatment [2][40] - New targets such as KAT6i and ADCs are expected to show advantages over chemotherapy and occupy significant positions in treatment sequences [2][40] 5. Company Analysis - Companies leading in the development of new mechanism drugs include BeiGene, Hansoh Pharmaceutical, Kelun-Botai Biopharmaceutical, and China National Pharmaceutical Group [2][40]