Group 1 - Chengdu High-tech Zone Medical Device Innovation and Transformation Association facilitated Qinglan Jichuang Medical Equipment to obtain a credit line of tens of millions from Chengdu Bank, specifically for production line expansion and technology research and development [1] - Anbiping announced that its HPV nucleic acid test kit received a medical device registration certificate from the National Medical Products Administration, capable of detecting 18 high-risk HPV types and further expanding its layout in the tumor screening field [1] - In the first half of 2025, China approved 45 innovative medical devices, a year-on-year increase of 87%, reflecting the continuous policy dividends driving industry technological upgrades [1] Group 2 - The domestic nuclear medicine industry has a high dependence on imported radionuclide raw materials, but domestic technological breakthroughs and capacity releases are expected to enhance the self-supply capability of major isotopes [2] - The nuclear medicine regulatory environment is strict, creating high barriers to entry, with companies like China Radiopharmaceuticals and Dongcheng Pharmaceutical holding a first-mover advantage in the midstream production and distribution sectors [2] - The nuclear medicine market is projected to grow at a compound annual growth rate of over 20% over the next five years, reaching 26 billion yuan by 2030, driven by policy support and increasing medical resource allocation [2] Group 3 - The ChiNext Medical ETF tracks the Chuangyi Medicine Index, which can experience daily fluctuations of up to 20%, reflecting the overall performance of listed companies in the medical manufacturing, medical devices, and medical services sectors on the ChiNext market [2] - The index consists of companies with innovative characteristics and high growth potential, generally characterized by high research and development investment and industry development potential [2]

证券研究报告 | 2025年07月08日 医药生物周报（25 年第 26 周） 优于大市 先通医药招股书梳理，关注放射性配体疗法的发展 本周医药板块表现弱于整体市场，医疗服务板块领涨。本周全部 A 股上涨 1.34%（总市值加权平均），沪深 300 上涨 1.54%，中小板指上涨 1.83%， 创业板指上涨 1.50%，生物医药板块整体上涨 3.64%，生物医药板块表 现强于整体市场。分子板块来看，化学制药上涨 5.03%，生物制品上涨 4.40%，医疗服务上涨 4.47%，医疗器械上涨 2.16%，医药商业上涨 2.47%， 中药上涨 1.27%。医药生物市盈率（TTM）35.12x，处于近 5 年历史估值 的 73.1%分位数。 放射性配体在靶向治疗及诊疗合一领域具有独特优势，先通医药有望成为港 股 18A"核药第一股"。放射性配体药物透过辐射靶向杀伤细胞的独特 机制有助克服其他治疗方式常见的耐药性，并允许诊断性（释放γ射线） 与治疗性（释放α/β射线）放射性核素互换使用，从而实现从诊断到精准 治疗的无缝衔接及治疗效果实时监测。核药领域已出现如 Pluvicto 的"重 磅炸弹"级别药物，行业正处于快速增 ...

证券研究报告：医药生物|深度报告 发布时间：2025-07-04 行业投资评级 强于大市 |维持 行业基本情况 | 收盘点位 | | 7754.01 | | --- | --- | --- | | 52 | 周最高 | 8490.25 | | 52 | 周最低 | 6070.89 | 行业相对指数表现（相对值） 2024-07 2024-09 2024-11 2025-02 2025-04 2025-06 -9% -5% -1% 3% 7% 11% 15% 19% 23% 27% 医药生物 沪深300 资料来源：聚源，中邮证券研究所 研究所 分析师:盛丽华 SAC 登记编号:S1340525060001 Email:shenglihua@cnpsec.com 分析师:陈成 SAC 登记编号:S1340524020001 Email:chencheng@cnpsec.com 近期研究报告 《国家药监局审议通过《关于优化全 生命周期监管支持高端医疗器械创新 发展的举措》，高端医疗器械发展有望 提升》 - 2025.06.30 RDC 引领核药行业快速崛起，开启诊疗一体化时代 l RDC 关注度持续提升，国内核药行 ...

2025年RDC药物最新进展。在医学不断进步的今天，肿瘤治疗领域持续探索更精准、高效且低毒的治疗方法。放射性核素偶联药物（RDC）作为核药领域 的前沿方向，凭借其精准靶向、高效杀伤和诊疗一体化的独特优势，近年来正在全球医药领域掀起创新浪潮。 一、厚积薄发，RDC药物的崛起 自1896年贝克勒尔首次发现放射性物质，开启了放射性核素在医学领域应用的探索之旅，至今已逾一个多世纪。在这漫长的发展历程中，放射性核素在医学 领域的应用范围不断拓展，尤其是在核药领域取得了显著进展。其中，诊断用途的核药在核药应用市场中占据主导地位，占比超过九成。 进入21世纪，传统核药如碘-131（碘化钠）、镭-223（氯化镭）等在临床治疗中得到广泛应用。碘-131自1941年首次用于治疗甲状腺功能亢进取得良好效果 后，1946年又被应用于甲状腺癌的治疗，大量临床研究证实其治疗分化型甲状腺癌转移灶疗效好、操作简便且副作用小。2013年，拜耳的Xofigo（氯化镭 [223Ra]注射液）成功获得FDA批准上市，成为历史上首个治疗用核药，用于治疗前列腺癌骨转移。 放射性药物分类及特点 图片来源：摩熵咨询《中国放射性药物产业白皮书》 近年来，以镥 ...

MELBOURNE, Australia and INDIANAPOLIS, June 23, 2025 (GLOBE NEWSWIRE) -- Telix Pharmaceuticals Limited (ASX: TLX, NASDAQ: TLX, “Telix”, “the Company”) today announces that the United States (U.S.) Food and Drug Administration (FDA) has approved a label expansion for Illuccix® (kit for the preparation of gallium Ga-68 gozetotide, for injection) to include patient selection for radioligand therapy (RLT) in the pre-taxane setting. The update applies to Illuccix’s third indication, for selection of patients who ...

Industry Overview - The Zacks Large Cap Pharmaceuticals industry includes major global companies developing multi-million-dollar drugs across various therapeutic areas such as neuroscience, cardiovascular, metabolism, rare diseases, immunology, and oncology [4] - Continuous innovation and significant investment in R&D are defining characteristics of these companies, with regular mergers and acquisitions being common [4][5] Current Market Conditions - The industry has shown resilience amid broader macroeconomic uncertainties, with a year-to-date performance increase of 3.9%, outperforming the Zacks Medical Sector's decline of 1.5% and the S&P 500's rise of 1.7% [14] - The current forward 12-month price-to-earnings (P/E) ratio for the industry is 15.65X, lower than the S&P 500's 21.89X and the Zacks Medical Sector's 19.31X, indicating potential value [17] Key Players and Performance - **Bayer**: Key drugs like Nubeqa and Kerendia are driving growth, with plans for new drug launches in 2025. The stock has risen 61.9% year-to-date, with 2025 EPS estimates increasing from $1.19 to $1.25 [20][22] - **Pfizer**: Strengthened its oncology position with the acquisition of Seagen. Despite challenges from declining COVID-19 product sales and patent expirations, non-COVID operational revenues are improving. The stock has lost 4.2% year-to-date, but 2025 EPS estimates have risen from $2.98 to $3.06 [25][26][28] - **Novartis**: Following the separation of Sandoz, it has a strong portfolio with drugs like Kisqali and Leqvio. The stock has risen 25.6% year-to-date, with 2025 EPS estimates increasing from $8.46 to $8.74 [31][32] - **AbbVie**: Successfully transitioned from the loss of exclusivity of Humira with new drugs like Skyrizi and Rinvoq. The stock has risen 9.5% year-to-date, with stable 2025 EPS estimates at $12.28 [35][37] - **Sanofi**: Dupixent is a key growth driver, supported by a strong vaccine portfolio. The stock has risen 6.3% year-to-date, with 2025 EPS estimates increasing from $4.43 to $4.56 [40][42] M&A and Innovation Trends - The industry is characterized by aggressive M&A activity, with large pharmaceutical companies acquiring innovative small and mid-cap biotech firms to enhance their pipelines [6][7] - Recent notable M&A activity includes Sanofi's offer to acquire Blueprint Medicines for approximately $9.5 billion, indicating continued robust M&A activity expected throughout the year [8]

Summary of Actinium Pharmaceuticals Conference Call Company Overview - **Company**: Actinium Pharmaceuticals - **Industry**: Biotechnology, specifically focused on targeted radiotherapy for cancer treatment - **Stock Symbol**: ATNM on NYSE American Key Points and Arguments 1. **Targeted Radiotherapy**: Actinium Pharmaceuticals specializes in linking radiation to targeting agents aimed at various cancer targets, utilizing both beta and alpha emitters for treatment across blood cancers and solid tumors [3][4] 2. **Pipeline Overview**: The company has a robust pipeline with over 230 patents, focusing on three key disease areas: hematology (blood cancers), solid tumors, and targeted conditioning for cell and gene therapy [5] 3. **Lead Program - Actemab A**: Actemab A is advancing towards a Phase 2/3 trial, targeting CD33 in blood cancers, particularly acute myeloid leukemia (AML). The drug has shown promising results in combination with chemotherapy [10][12] 4. **Clinical Trials**: Actemab A has been studied in approximately 150 patients across six clinical trials, demonstrating a high overall response rate of over 50% in high-risk patient groups [15][16] 5. **Market Opportunities**: The potential market for Actemab A exceeds 100,000 patients in the US and top five countries, with mutation-agnostic properties making it a versatile treatment option [19][20] 6. **Solid Tumor Expansion**: The company is exploring Actemab A's application in solid tumors, particularly in combination with PD-1 checkpoint inhibitors for head and neck and non-small cell lung cancer [21][24] 7. **New Program - ATNM-400**: A next-generation prostate cancer therapeutic candidate, ATNM-400, is being developed to address a large patient population, showing more potency than existing therapies like Pluvicto [7][25] 8. **Manufacturing Capabilities**: Actinium is focused on establishing in-house manufacturing capabilities for radioisotopes, particularly Actinium-225, to support future clinical trials [9][34] 9. **IMMab ACT Program**: This program targets CD45 for CAR T therapy and sickle cell disease, with promising preclinical data indicating low toxicity and effective outcomes in heavily pretreated patients [28][30] 10. **Financial Outlook**: The company has a cash runway extending into mid-2027, allowing for the advancement of multiple pipeline assets and potential partnerships [34][36] Additional Important Content - **Collaboration with NCI**: Actinium has entered a cooperative research and development agreement with the National Cancer Institute (NCI) to co-develop Actemab A, enhancing its clinical research capabilities [6][18] - **Survival Outcomes**: The trial results indicated a median overall survival of 18 months for patients treated with Actemab A, significantly higher than typical outcomes for similar patient groups [17] - **Regulatory Alignment**: The company has aligned with the FDA on the Phase 2/3 study design for Actemab A, indicating a structured approach to clinical development [18][36] - **Market Growth**: The CAR T therapy market has grown to over $4 billion in annual sales, with significant growth expected in the cell and gene therapy market [32] This summary encapsulates the critical insights from the conference call, highlighting Actinium Pharmaceuticals' strategic focus on targeted radiotherapy and its promising pipeline in the oncology space.

An updated edition of the April 16, 2025, article.The global cancer treatment market is transforming rapidly, driven by an increasing demand for more effective, less toxic therapies. As per the American Cancer Society, the United States alone is expected to see 2,041,910 new cancer cases and 618,120 cancer-related deaths in 2025. While advances in early detection and treatment have contributed to a decline in mortality rates for certain cancers, the overall rise in cancer incidence continues to push global ...

①【三大期指齐跌】截至发稿，道指期货跌0.43%、标普500指数期货跌0.50%、纳指期货跌0.67%。 ⑥【诺华癌症药物临床试验显示强劲结果】当地时间6月2日，诺华表示，其癌症药物Pluvicto在一项针 对早期晚期前列腺癌患者的后期临床试验中显示出积极结果。该药物与标准激素治疗联合使用时，有助 于减缓疾病扩散。 ⑦【赛诺菲将以91亿美元发起收购，Blueprint Medicines涨逾27%】当地时间6月2日，制药巨头赛诺菲 表示，将收购美国上市公司Blueprint Medicines，以获取后者的罕见免疫疾病药物管线。赛诺菲将为 Blueprint每股支付129美元现金，相当于91亿美元的股权价值。截至发稿，赛诺菲上涨0.1%，Blueprint Medicines上涨27.08%。 ⑧【苹果被曝将就欧盟信息共享新规提起上诉】近日，据外媒援引知情人士透露，苹果公司已向欧盟委 员会提起上诉，反对《数字市场法》(DMA)中要求其向第三方开发商开放用户数据访问权限的条款。苹 果表示："这些要求将迫使苹果共享敏感用户数据，甚至包括我们自身都无法获取的私人信息，为欧盟 用户带来巨大隐私风险。"截至发稿，苹果下 ...

Core Insights - Novartis announced positive topline results from the Phase III PSMAddition trial, demonstrating a significant benefit in radiographic progression-free survival (rPFS) for Pluvicto™ in combination with standard of care (SoC) compared to SoC alone in patients with PSMA-positive metastatic hormone-sensitive prostate cancer (mHSPC) [2][4][7] Group 1: Trial Results - The PSMAddition trial met its primary endpoint with a statistically significant and clinically meaningful benefit in rPFS, along with a positive trend in overall survival (OS) [2][4] - The trial involved adult patients with PSMA-positive mHSPC, comparing the efficacy and safety of Pluvicto combined with SoC (androgen receptor pathway inhibitor therapy and androgen deprivation therapy) versus SoC alone [6][7] Group 2: Treatment Context - Most mHSPC patients eventually progress to metastatic castration-resistant prostate cancer (mCRPC), highlighting the need for new treatment options that can delay progression and improve OS [3] - Pluvicto is already approved for mCRPC and shows potential for earlier use in mHSPC, addressing significant unmet needs in hormone-sensitive prostate cancer [4][8] Group 3: Future Plans - Novartis plans to present the trial results at an upcoming medical meeting and will submit data for regulatory review in the second half of the year based on FDA feedback [5][7] - The company is expanding its portfolio of radioligand therapies (RLTs) for various advanced cancers and enhancing manufacturing capabilities to meet growing demand [9]