【导读】国家医保局通报某医药咨询服务企业涉商业贿赂案，常山药业被"穿透"启动信用评价 事涉商业贿赂，国家医保局最新通报来了！ 近期，国家医保局通报一起医药咨询服务企业涉商业贿赂案。上海海怡莱企业咨询管理合伙企业（以下 简称上海海怡莱）在上海地区开展市场服务过程中，涉嫌实施商业贿赂行为。 上海市药事所接到案源信息后，按规定对涉案配送企业启动信用评价程序，要求配送企业指证失信行为 的实际控制主体。泓健医药公司提供了与河北常山生化药业公司关于涉案产品达肝素钠注射液的销售合 同、发票等信息，后续上海市药事所将对本案穿透至生产企业的河北常山生化药业公司启动信用评价。 对此，常山药业方面表示，已收到相关通知。 具体而言，上海海怡莱与上海泓健医药有限公司签订协议，为其销售"达肝素钠注射液"（产品名称：万 脉宁）在上海地区进行市场推广和信息服务工作。上海海怡莱为能承接到泓健医药公司销售的万脉宁药 品市场营销策划服务业务，向泓健医药公司承诺通过其服务会维持并增加上海地区万脉宁药品的总销 量。 为了让上海市第一妇婴保健院相关医生能多开具万脉宁药品，上海海怡莱的销售推广总监及股东袁某某 承诺生殖免疫科医生顾某开具涉案药品即可给予好 ...

随着下游公司用商业贿赂手段销售药品万脉宁的行为被查处，常山药业也将被启动信用评价。 1月11日，据国家医保局公众号，上海市普陀区市场监督管理局在去年4月发现，上海海怡莱企业咨询管 理合伙企业（下称"上海海怡莱"）涉嫌实施商业贿赂。 智通财经记者 | 黄华 智通财经编辑 | 谢欣 上海海怡莱与上海泓健医药有限公司（下称"泓健医药"）于2023年1月签订协议，为泓健医药在上海销 售达肝素钠注射液（批准文号H20143110，商品名：万脉宁）提供市场推广和信息服务工作，包括市场 信息收集维护、开展学术会议、走访医生等。 期间，上海海怡莱向泓健医药承诺，其服务能够维持并增加万脉宁在上海的销量。经调查发现，上海海 怡莱为了推动上海市第一妇婴保健院相关医生多开具万脉宁，销售推广总监及股东袁某某承诺生殖免疫 科医生顾某，开药即可给予好处费。 经统计，2023年1月至12月期间，袁某通过个人微信转账支付4笔好处费，共计约3.5万元；对应时段 内，医生共开具万脉宁约1.83万支。上海海怡莱从泓健医药公司获取万脉宁2023年度市场推广和信息服 务的业务收入合计约86.87万元。 普陀区市场监督管理局认为，上海海怡莱所采用的手段构 ...

来源：@华夏时报微博 华夏时报记者 赵文娟 于娜 北京报道 常山药业（300255）一则股权转让公告引发市场聚焦。公司实控人高树华以21.28亿元对价，向重庆元素私募基金 协议转让其持有的5.01%股份。而这一交易的背景，是公司股价自2023年9月低点飙升近15倍的疯狂走势，以及基 本面持续承压的鲜明反差。 针对相关问题，《华夏时报》记者向常山药业（300255）致函询问，截至发稿未获回复。 折价转让引关注 据公告，公司实控人高树华拟将所持4600万股（占总股本5.0051%）转让给重庆元素私募证券投资基金管理有限 公司（代表"元素致远行千里一号私募证券投资基金"，下称"元素基金"）。转让单价定为46.25元/股，交易总额 21.275亿元。这一价格较公告当日收盘价56.13元折让约20%，凸显了转让方较强的变现意愿。 本报记者注意到，在本次权益变动前，高树华持有的2.80亿股中，1.55亿股处于质押状态，质押比例超55%，资金 压力可见一斑。事实上，这已是他两年内第二次大规模股权转让，2024年2月其曾以9.2元/股转让5.77%股份，套 现4.88亿元。 | | | | 报告期末普通股股东总数 | | 4 ...

Core Viewpoint - Nanjing Jianyou Biochemical Pharmaceutical Co., Ltd. has received approval from the National Medical Products Administration (NMPA) for its enoxaparin sodium injection to pass the consistency evaluation of generic drug quality and efficacy [1][2]. Drug Basic Information - Drug Name: Enoxaparin Sodium Injection - Indications: Used in surgical procedures to prevent venous thromboembolism in moderate to high-risk situations, treat existing deep vein thrombosis, and in combination with aspirin for unstable angina and non-Q wave myocardial infarction. It is also used to prevent clot formation during hemodialysis [1][2]. - Dosage Forms: Injection (pre-filled syringe products) [2]. - Specifications: 0.3ml: 3075AXaIU and 0.6ml: 6150AXaIU [2]. - Original Drug Approval Numbers: National Drug Approval Number H20194077 and H20191005 [2]. Other Relevant Information - The company has invested approximately RMB 23.56 million in research and development for the consistency evaluation of the enoxaparin sodium injection [3]. - Currently, there are eight companies, including Jianyou, that have launched generic versions of enoxaparin sodium injection in China [3]. Impact on the Company - The approval of the consistency evaluation will provide greater support for the drug in terms of medical insurance payments and procurement by medical institutions. It also qualifies the product for participation in national drug centralized procurement [4]. - The successful evaluation is expected to enhance the market sales and competitiveness of the enoxaparin sodium injection [5].

Group 1 - The core point of the article is that Jianyou Co., Ltd. has received approval from the National Medical Products Administration (NMPA) for its heparin calcium injection products, indicating a successful outcome in the consistency evaluation of generic drug quality and efficacy [2][2][2] Group 2 - The approved products include heparin calcium injection in two dosages: 0.3ml with a potency of 3075 AXaIU and 0.6ml with a potency of 6150 AXaIU, with respective drug approval numbers [2][2][2]

Core Viewpoint - The company, Jianyou Co., Ltd. (603707.SH), has received approval from the National Medical Products Administration (NMPA) for its sodium heparin injection products, indicating a successful completion of the consistency evaluation for generic drug quality and efficacy [1] Group 1: Product Approval - The NMPA has issued a notification for the approval of sodium heparin injection in two dosages: 0.3ml with 3075AⅩaIU and 0.6ml with 6150AⅩaIU [1] - The approved product is intended for use in surgical procedures to prevent venous thromboembolism in patients at moderate to high risk of venous thrombus formation [1] Group 2: Clinical Applications - Sodium heparin injection is used for the treatment of established deep vein thrombosis and in combination with aspirin for unstable angina and non-Q-wave myocardial infarction during the acute phase [1] - The product is also utilized in hemodialysis to prevent clot formation during extracorporeal circulation [1]

Core Viewpoint - The company, Jianyou Co., Ltd. (603707.SH), has received approval from the NMPA for its product, Enoxaparin Sodium Injection in 0.3ml and 0.6ml specifications, which has passed the consistency evaluation of quality and efficacy for generic drugs [1] Group 1 - The approved product, Enoxaparin Sodium Injection, is used for the prevention of venous thromboembolism in surgical procedures and for the treatment of established deep vein thrombosis [1]

Core Viewpoint - The company, Jianyou Co., Ltd. (603707.SH), has received approval from the National Medical Products Administration (NMPA) for its product, Nadroparin Calcium Injection, indicating a successful completion of the consistency evaluation for generic drug quality and efficacy [1] Group 1: Product Approval - The NMPA has issued a supplemental application approval notice for Nadroparin Calcium Injection in two dosages: 0.3ml (3075AⅩaIU) and 0.6ml (6150AⅩaIU) [1] - The product is approved for use in preventing venous thromboembolism in patients at moderate to high risk during surgical procedures [1] - It is also indicated for the treatment of established deep vein thrombosis and in combination with aspirin for unstable angina and non-Q wave myocardial infarction in the acute phase [1] Group 2: Clinical Applications - Nadroparin Calcium Injection is utilized in hemodialysis to prevent clot formation during extracorporeal circulation [1]

Core Viewpoint - The low molecular weight heparin (LMWH) market in China is experiencing steady growth, driven by advancements in medical technology and increasing clinical applications, with a projected market size of approximately 68.07 billion yuan in 2024 and 69.29 billion yuan in 2025 [1][5]. Group 1: Market Size and Structure - The LMWH market in China is expected to reach 68.07 billion yuan in 2024, with the following market share distribution: dalteparin sodium injection (15.47%), low molecular weight heparin calcium injection (7.01%), nadroparin calcium injection (18.22%), enoxaparin sodium injection (26.77%), and other LMWH preparations (32.54%) [1][5]. - By 2025, the market size is projected to be around 69.29 billion yuan, with similar distribution trends among the various LMWH products [1][5]. Group 2: Industry Development and Trends - The LMWH industry has evolved significantly since the discovery of heparin in the early 20th century, with key milestones including the commercialization of heparin in 1938 and the introduction of nadroparin in 1978 [3]. - The Chinese LMWH industry has undergone three stages: crude product export, industrial enhancement, and the establishment of a complete industrial chain [3]. - The global LMWH market is also growing, with a projected increase from 4.334 billion USD in 2020 to 5.876 billion USD in 2024, and an expected market size of 6.2 billion USD in 2025 [4]. Group 3: Production and Demand - The production of LMWH in China is on the rise, with an estimated output of 36,327 million doses in 2024, up from 17,367 million doses in 2020, and expected to exceed 40,000 million doses in 2025 [6][7]. - The demand for LMWH in China is projected to reach approximately 42,523 million doses by 2025, reflecting a growing need for these anticoagulants in clinical settings [5][6]. Group 4: Competitive Landscape - Major companies in the Chinese LMWH market include Jiuyuan Gene, Hongri Pharmaceutical, Chenxin Pharmaceutical, and others, with a concentration of production in eastern coastal regions such as Jiangsu, Shandong, and Guangdong [8]. - In 2024, the market share of imported LMWH products remains above 20%, with notable sales figures for domestic products, including 3.42 billion yuan for Sanofi's enoxaparin sodium injection and 4.12 billion yuan for Qilu Pharmaceutical's LMWH sodium injection [8][9]. Group 5: Technological Advancements - The production technology for LMWH has advanced significantly, moving from traditional chemical degradation methods to modern biotechnological approaches, enhancing product purity and reducing production costs [9][10]. - Future trends in the LMWH industry include a focus on high-efficiency, green, and intelligent production methods, as well as the development of customized LMWH products in response to the rise of personalized medicine [11][12].

Core Insights - The company reported a decline in revenue and net profit for the first half of 2025, with total revenue at 1.384 billion yuan, down 2.6% year-on-year, and net profit attributable to shareholders at 89 million yuan, down 20.7% [1] Financial Performance - Revenue for the nuclear medicine segment reached 503 million yuan, a year-on-year increase of 0.78%, with a gross margin of 67.27% [2] - The core product, 18F-FDG, generated revenue of 212 million yuan, reflecting an 8.72% increase year-on-year [2] - The raw material drug segment reported revenue of 611 million yuan, down 7.02%, primarily due to a decline in heparin sodium sales prices [2] Development Trends - The company has invested in 7 operational nuclear pharmacies focused on single-photon drugs and 22 on positron emission drugs, with 31 nuclear drug production centers currently in operation [2] - The company’s innovative nuclear drug pipeline is progressing, with the approval of sodium fluoride [18F] injection in May 2025 and ongoing clinical trials for several other products [3] Profit Forecast and Valuation - The company maintains its EPS forecast for 2025 and 2026 at 0.32 yuan and 0.40 yuan, respectively, with the current stock price corresponding to a P/E ratio of 55.1 times for 2025 and 43.9 times for 2026 [4] - The target price has been raised by 16.4% to 19.2 yuan, indicating an 8.8% upside potential from the current stock price [4]