Core Viewpoint - Heng Rui Medicine (600276.SH) has received the acceptance notice from the National Medical Products Administration for its drug application of injectable tofenamic acid remimazolam, indicating progress in its drug development pipeline [1] Group 1: Drug Information - Tofenic acid remimazolam is a benzodiazepine drug and a short-acting GABAa receptor agonist, which produces sedative and anesthetic effects by inhibiting neuronal activity [1] - The advantages of tofenamic acid remimazolam include rapid onset, short recovery time, and minimal impact on respiratory and cardiovascular systems [1] Group 2: Market Context - The drug was developed by PAION AG and has been approved in Japan in January 2020, in the United States in October 2020, and in China in July 2020 [1] - The global sales of remimazolam are projected to reach approximately $59.22 million in 2024 [1] Group 3: R&D Investment - The cumulative research and development investment for injectable tofenamic acid remimazolam has reached approximately 184 million yuan [1]

Core Viewpoint - Heng Rui Medicine has received acceptance notification from the National Medical Products Administration for its drug application of injectable remimazolam tosylate, indicating progress in its market entry [1] Group 1: Product Information - Remimazolam tosylate is a short-acting GABAa receptor agonist belonging to the benzodiazepine class, which produces sedative and anesthetic effects by inhibiting neuronal activity [1] - The advantages of remimazolam tosylate include rapid onset, short recovery time, and minimal impact on respiratory and cardiovascular systems [1] Group 2: Market Context - The drug was developed by PAION AG and has been approved for sale in Japan, the United States, and China in 2020 [1] - The global sales for remimazolam tosylate are projected to reach approximately $59.22 million in 2024 [1] Group 3: R&D Investment - The cumulative research and development investment for injectable remimazolam tosylate has reached approximately 184 million yuan [1]

Investment Rating - The industry investment rating is "Positive" and is maintained [6]. Core Viewpoints - The report highlights that Renfu Pharmaceutical is undergoing a core restructuring, focusing on optimizing assets and enhancing innovation capabilities. The company has established itself as a leader in the anesthetics market, particularly with its Yichang Renfu subsidiary, which holds a dominant position in the fentanyl series [3][11]. - The report emphasizes the continuous growth of Renfu's product lines, with a significant number of products achieving over 100 million yuan in sales. The company is also expanding its research and development efforts, particularly in oral formulations and pain management applications [17][21]. - The report notes that the pharmaceutical and biotechnology sector has seen a 1.9% increase this week, outperforming the CSI 300 index by 0.21 percentage points, with the medical R&D outsourcing sector showing the largest gains [4][38]. Summary by Sections 1. Renfu Pharmaceutical: Core Restructuring and Innovation Pipeline - Renfu Pharmaceutical is advancing its core restructuring strategy, focusing on optimizing its asset portfolio and enhancing innovation. The company has established a strong foundation in the anesthetics market through its Yichang Renfu subsidiary, which leads the fentanyl series with approximately 90% market share [3][11]. - The company has a robust pipeline of innovative drugs, including pUDK-HGF, which has completed Phase III clinical trials for severe lower limb ischemia, and several differentiated innovative pipelines targeting pain, solid tumors, and inflammatory bowel disease [3][22]. 2. Market Performance - The pharmaceutical and biotechnology sector has increased by 1.9% this week, ranking 19th among 31 sub-industries. The medical R&D outsourcing sector experienced the highest growth at 8.29% [4][38]. - The report indicates that Renfu Pharmaceutical's commercial capabilities are reflected in its sales performance, with 16 products exceeding 100 million yuan in sales in 2024, showcasing the company's strong market presence [17][18]. 3. Investment Recommendations - Recommended stocks in the pharmaceutical and biotechnology sector include Heng Rui Pharmaceutical, East China Pharmaceutical, Sanofi Pharmaceutical, Renfu Pharmaceutical, and others. The report also highlights key players in the CXO and research service sectors [5].