Group 1: Rise of RDC Drugs - The development of Radiopharmaceutical Drug Conjugates (RDC) is gaining momentum in the field of oncology, driven by the need for more precise, effective, and less toxic treatment methods [1][2] - The history of radioactive substances in medicine dates back to 1896, with significant advancements in nuclear medicine applications, particularly in diagnostics, which dominate over 90% of the market [2] - Traditional nuclear medicines like Iodine-131 and Radium-223 have been widely used in clinical treatments, with Iodine-131 being effective for thyroid conditions since 1941 and Radium-223 approved by the FDA in 2013 for prostate cancer bone metastases [2] Group 2: Mechanism and Composition of RDC - RDCs combine targeting molecules with radioactive isotopes to create a new type of integrated diagnostic and therapeutic drug, allowing for precise localization of diseased tissues and simultaneous treatment [7][10] - The key components of RDC include targeting ligands, linkers, chelators, and radioactive isotopes, each serving specific functions to ensure effective delivery and action against cancer cells [9][10] - The unique ability of RDCs to integrate diagnosis and treatment makes them a versatile tool in clinical applications, with common isotopes used for diagnosis being Gallium-68 and for treatment being Lutetium-177 [10] Group 3: Global R&D Landscape of RDC - The RDC sector has seen significant R&D achievements, with 11 RDC drugs currently on the market, including 9 diagnostic and 2 therapeutic agents, focusing on targets like PSMA and SSTR for prostate and neuroendocrine tumors [11][12] - Novartis leads the international market with strategic acquisitions, including AAA and Endocyte, resulting in flagship products Lutathera and Pluvicto, with Pluvicto projected to achieve $1.392 billion in sales by 2024 [12][16] - Other major pharmaceutical companies such as Roche, Eli Lilly, Bayer, and AstraZeneca are investing heavily in RDC development, each committing over $1 billion to find promising pipelines [16] Group 4: Domestic Market Dynamics in China - Over 120 Chinese companies are involved in RDC R&D, with leading firms like Yuan Da Pharmaceutical developing innovative products targeting various cancers [17] - Heng Rui Pharmaceutical is also a key player with multiple pipelines, including three RDCs in Phase III clinical trials, targeting PSMA and SSTR [17][18] - New entrants like Xiantong Pharmaceutical and Yunhe Pharmaceutical are emerging, with innovative products entering clinical trials, indicating a growing competitive landscape in the domestic RDC market [20][23]