消息面上，10月28日，荃信生物宣布与罗氏就其自主研发的长效自免双抗QX031N达成全球独家合作与 许可协议。根据协议，罗氏将被授予研究、开发、注册、生产及商业化QX031N的全球独家权益。荃信 生物将获得7500万美元的首付款，以及至多9.95亿美元里程碑付款、潜在未来产品销售的梯度特许权使 用费。 据悉，QX031N注射液是一款同时靶向TSLP和IL-33的长效双抗。中邮证券指出，QX031N属于临床前管 线，尚未进入临床阶段即与MNC达成了高首付的协议，我们认为一方面系对公司创新早研能力的背 书，另一方面亦系对自免领域呼吸赛道市场潜力与靶点选择的认可。从BD金额和合作方来看，本次交 易具备一定稀缺性，QX031N临床价值并不逊色于IBD领域的TL1A双抗，同时亦意味着该靶点组合在全 球中具备领先身位和市场潜力。 荃信生物-B(02509)盘中涨超11%，截至发稿，涨4.78%，报22.82港元，成交额1229.38万港元。 ...

荃信生物-B(02509)盘中涨超11%，截至发稿，涨4.78%，报22.82港元，成交额1229.38万港元。 据悉，QX031N注射液是一款同时靶向TSLP和IL-33的长效双抗。中邮证券指出，QX031N属于临床前管 线，尚未进入临床阶段即与MNC达成了高首付的协议，我们认为一方面系对公司创新早研能力的背 书，另一方面亦系对自免领域呼吸赛道市场潜力与靶点选择的认可。从BD金额和合作方来看，本次交 易具备一定稀缺性，QX031N临床价值并不逊色于IBD领域的TL1A双抗，同时亦意味着该靶点组合在全 球中具备领先身位和市场潜力。 消息面上，10月28日，荃信生物宣布与罗氏就其自主研发的长效自免双抗QX031N达成全球独家合作与 许可协议。根据协议，罗氏将被授予研究、开发、注册、生产及商业化QX031N的全球独家权益。荃信 生物将获得7500万美元的首付款，以及至多9.95亿美元里程碑付款、潜在未来产品销售的梯度特许权使 用费。 ...

智通财经APP获悉，荃信生物-B(02509)高开逾6%，截至发稿，涨6.49%，报26.9港元，成交额240.49万 港元。 消息面上，10月28日，荃信生物宣布与F. Hoffmann-La Roche Ltd（以下简称"罗氏"）就公司自主研发的 长效自免双抗QX031N达成全球独家合作与许可协议。根据协议，罗氏将获授予研究、开发、注册、生 产及商业化QX031N的全球独家权益。作为回报，公司将获得一次性、不可退还且不可抵扣的首付款 7,500万美元，并有资格获得与产品开发、监管批准及商业化相关的至多9.95亿美元里程碑付款，以及潜 在未来产品销售的梯度特许权使用费。 据悉，QX031N注射液是一款同时靶向TSLP和IL-33的长效双抗。QX031N有望被开发成为COPD及哮喘 等呼吸系统疾病的治疗新选择，具备成为First-in-class及Best-in-disease疗法的潜力。荃信生物创始人、 董事会主席兼总经理裘霁宛表示，出海是公司坚定不移的战略目标。与罗氏的重磅合作，是对公司自主 研发平台的充分认可，也有望最大化QX031N的全球价值。 ...

QX031N 注射液是一款同时靶向TSLP 和IL-33 的长效双抗。TSLP和IL-33 参与慢性阻塞性肺病 （COPD）及哮喘等呼吸系统疾病的发生，在炎症进程中发挥重要作用。QX031N 有望被开发成为 COPD 及哮喘等呼吸系统疾病的治疗新选择，具备成为First-in-class 及Best-indisease疗法的潜力。 MNC 背书+高首付款反映公司创新能力，自免双抗价值有望持续兑现。 QX031N 属于临床前管线，尚未进入临床阶段即与MNC 达成了高首付的协议，我们认为一方面系对公 司创新早研能力的背书，另一方面亦系对自免领域呼吸赛道市场潜力与靶点选择的认可。 机构：中邮证券 研究员：盛丽华/徐智敏 事件 10 月28 日，荃信生物与F. Hoffmann-La Roche Ltd（以下简称"罗氏"）就荃信生物自主研发的长效自免 双抗QX031N 达成全球独家合作与许可协议。 投资要点 协议概要：根据协议，罗氏将获授予研究、开发、注册、生产及商业化QX031N 的全球独家权益。作为 回报，荃信生物将获得一次性、不可退还且不可抵扣的首付款7,500 万美元，并有资格获得与产品开 发、监管批准及商业 ...

Group 1: National Drug Procurement - The 11th batch of national drug centralized procurement includes 55 drugs, covering common medications in areas such as anti-infection, anti-allergy, anti-tumor, blood sugar, blood pressure, and blood lipid reduction [1] - The average price difference of selected products has significantly narrowed compared to previous batches, indicating a more competitive environment [1] - Measures such as excluding products with a scale below 100 million yuan from procurement and setting "anchor prices" have been implemented to maintain a reasonable selection rate and promote rational competition among companies [1] Group 2: Xingqi Eye Pharmaceutical - Xingqi Eye Pharmaceutical reported a revenue of approximately 1.904 billion yuan for the first three quarters, a year-on-year increase of 32.27% [2] - The net profit attributable to shareholders reached approximately 599 million yuan, reflecting a substantial year-on-year growth of 105.98% [2] - The increase in revenue is primarily driven by the sales growth of eye drop products, showcasing the company's strong market competitiveness in a challenging environment [2] Group 3: Novartis - Novartis reported a total revenue of 41.196 billion USD for the first three quarters, representing an 11% year-on-year growth [3] - Revenue from the Chinese market for the same period reached 3.2 billion USD, with a year-on-year growth of 5% [3] - The company has ten blockbuster products with cumulative sales exceeding 1 billion USD, indicating solid market competitiveness despite a slowdown in growth in China [3] Group 4: Qianxin Biotech and Roche - Qianxin Biotech announced a global exclusive licensing agreement with Roche for its self-developed long-acting dual antibody QX031N, receiving an upfront payment of 75 million USD [4] - The agreement includes potential milestone payments of up to 995 million USD and tiered royalties on future product sales [4] - This collaboration highlights Qianxin Biotech's R&D competitiveness and the recognition of Chinese innovative pharmaceutical companies by multinational firms, potentially attracting more capital to the Chinese innovation drug sector [4] Group 5: Haili Biotech - Haili Biotech responded to a regulatory inquiry regarding its semi-annual report, explaining the high accounts receivable due to industry pressures and efforts to maintain core customer relationships [5] - The company indicated that the increase in accounts receivable is a strategic move, but it may pose long-term risks if collections are ineffective [5] - Investors are advised to closely monitor the company's accounts receivable management and industry conditions to assess its long-term investment value [5]

Group 1: National Drug Procurement - The 11th batch of national drug centralized procurement includes 55 drugs, covering common medications in areas such as anti-infection, anti-allergy, anti-tumor, blood sugar reduction, blood pressure reduction, and blood lipid reduction [1] - The average price difference of selected products has significantly narrowed compared to previous batches, indicating a more competitive environment [1] - Measures such as excluding products with a scale below 100 million yuan, setting "anchor prices" to prevent extreme low-price impacts, and introducing a revival mechanism have maintained a relatively high selection rate, promoting rational competition and industry innovation [1] Group 2: Xingqi Eye Pharmaceutical - Xingqi Eye Pharmaceutical reported a net profit increase of 105.98% in the first three quarters, with revenue of approximately 1.904 billion yuan, a year-on-year increase of 32.27% [2] - The increase in revenue is primarily attributed to the sales growth of eye drop products, demonstrating strong market competitiveness [2] - This performance is expected to enhance investor confidence and attract more capital into the company [2] Group 3: Novartis - Novartis reported a 5% revenue growth in the Chinese market for the first three quarters, with total revenue of 4.1196 billion USD, a year-on-year increase of 11% [3] - The company has ten blockbuster products with cumulative sales exceeding 1 billion USD each, indicating solid market competitiveness [3] - However, the slowdown in revenue growth in the Chinese market is noteworthy amidst a complex global economic environment [3] Group 4: Qianxin Biotech and Roche - Qianxin Biotech has entered into a global exclusive licensing agreement with Roche for its self-developed long-acting dual antibody QX031N, receiving an upfront payment of 75 million USD and potential milestone payments up to 995 million USD [4] - QX031N targets TSLP and IL-33, showcasing the company's R&D competitiveness and recognition from multinational pharmaceutical companies [4] - This collaboration is expected to attract more capital attention to China's innovative drug sector and promote overall industry development [4] Group 5: Haili Biotech - Haili Biotech responded to regulatory inquiries regarding its semi-annual report, explaining the high accounts receivable due to industry downturn pressures and efforts to maintain core customer relationships by extending payment terms [5] - While this strategy aims to stabilize customer relations, it may increase bad debt risks if accounts receivable are not effectively collected, potentially eroding profits [5] - Investors are advised to closely monitor the company's accounts receivable management measures and changes in the industry environment to assess its long-term investment value [5]