Core Insights - Akeso, Inc. has successfully included all five of its self-developed innovative drugs in the updated National Reimbursement Drug List (NRDL) for 2025, effective January 1, 2026, which enhances patient access to these treatments [1][2][3] Group 1: Drug Inclusion Details - All approved indications for Akeso's five independently commercialized drugs are now part of the NRDL, addressing major tumor diseases and autoimmune disorders prevalent in China [1][2] - Ivonescimab, a first-in-class PD-1/VEGF bispecific antibody, has secured inclusion for its new first-line indication for PD-L1-positive non-small cell lung cancer (NSCLC), demonstrating a 49% reduction in disease progression or death compared to pembrolizumab in clinical trials [3][4] - Cadonilimab, another first-in-class bispecific antibody, has successfully negotiated inclusion for first-line indications in gastric and cervical cancers, showing significant clinical benefits across all patient populations [4] - Penpulimab has achieved NRDL inclusion for all four of its approved indications, including treatments for nasopharyngeal carcinoma and classical Hodgkin lymphoma [5] - Ebdarokimab, targeting IL-12/IL-23, has been included for the treatment of moderate-to-severe psoriasis, marking Akeso's first drug in the autoimmune disease sector [7] - Ebronucimab has secured inclusion for both of its approved indications related to hypercholesterolemia, enhancing its market presence [8] Group 2: Strategic Implications - The successful inclusion of these drugs in the NRDL is expected to reduce the financial burden on patients and provide superior treatment alternatives, thereby addressing significant public health challenges in China [2] - The recognition of these drugs in clinical practice prior to NRDL inclusion indicates their breakthrough clinical value and enhances trust among healthcare providers and patients [2] - This achievement lays a solid foundation for accelerating broader clinical adoption and supports Akeso's ongoing commercialization efforts, positioning the company for sustained growth and global expansion [2][3] Group 3: Company Overview - Akeso is a leading biopharmaceutical company focused on the research, development, manufacturing, and commercialization of innovative biological medicines, with a robust pipeline of over 50 assets in various therapeutic areas [12] - The company utilizes an integrated R&D innovation system and has developed a comprehensive drug development platform, which includes bispecific antibody technology [12] - Akeso aims to provide affordable therapeutic antibodies globally while creating significant commercial and social value, striving to become a leading player in the biopharmaceutical industry [12]

Group 1 - Jianyin International raised the target price for Kangfang Biopharma (09926) by 33.3%, from HKD 90 to HKD 120, reflecting improved earnings forecasts and high potential for the company's lung cancer drugs in China and overseas [1] - Kangfang Biopharma's fundamentals are strong, with revenue forecasts for 2025, 2026, and 2027 increased to RMB 3.3 billion, RMB 5.3 billion, and RMB 9.6 billion respectively, and adjusted profit forecasts for 2025, 2026, and 2027 raised to RMB 121 million, RMB 1.2 billion, and RMB 3.9 billion respectively [1] - The approval of Ebdarokimab for moderate to severe plaque psoriasis in China is a significant milestone for Kangfang Biopharma [1] Group 2 - On April 23, Kangfang Biopharma announced that its drug AK112 met the target efficacy in a Phase 3 clinical trial for advanced squamous non-small cell lung cancer, showing superior efficacy compared to Tislelizumab [2] - The independent data monitoring committee confirmed that AK112's efficacy is significantly better than that of Tislelizumab, aligning with previously published Phase 3 clinical data [2] - AK112's performance indicates it outperforms Merck's well-known PD-1 biologic competitor, Keytruda [2]