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呼吸领域再现BD交易,百亿赛道为何火热?生物制剂前景如何?
Xin Lang Cai Jing· 2025-09-12 23:45
Core Insights - Baiyang Pharmaceutical announced a strategic investment in Tianjin Jikun Pharmaceutical, acquiring a 24% stake to secure rights to a novel drug for pulmonary fibrosis and priority purchase rights for global compound rights [1][2] Industry Overview - The respiratory disease sector is gaining attention, with recent business development (BD) transactions highlighting its potential, despite historically lower interest compared to oncology and weight loss markets [2] - Major players in the respiratory market include both domestic companies and multinational corporations like AstraZeneca, Sanofi, GSK, and Kasy, with a mix of common inhalation therapies and advanced biologics [4] Market Potential - The Chinese respiratory drug market is projected to reach approximately $12.8 billion by 2024, driven by a significant patient population, including around 45.7 million asthma patients and nearly 100 million COPD patients [4] - Recent BD transactions, such as the collaboration between Hengrui Medicine and GSK, have sparked interest in the PDE3/4 target, indicating a competitive landscape for future partnerships [2][3] Product Development - Kasy has launched a new inhalation powder for asthma treatment, representing a novel option in the market, while AstraZeneca has received approval for a biologic treatment for severe eosinophilic asthma in children [4] - The ongoing development of biologics is seen as a potential future direction for treating respiratory diseases, although inhalation therapies remain the cornerstone of treatment [5][6]