上海医药公告，下属正大青春宝药业有限公司自主研发的"芪苓颗粒"收到国家药品监督管理局核准签发 的《药物临床试验批准通知书》。芪苓颗粒为颗粒剂，用于痛风发作间歇期湿浊瘀阻证的临床试验。芪 苓颗粒处方源自杭州市中医院的临床验方，由青春宝自主研发，拥有核心知识产权。截至本公告披露 日，该项目已累计投入研发费用约1142万元人民币。 ...

Market Overview - The pharmaceutical commercial sector declined by 1.0% on January 28, with Renmin Tongtai leading the drop [1] - The Shanghai Composite Index closed at 4151.24, up 0.27%, while the Shenzhen Component Index closed at 14342.9, up 0.09% [1] Stock Performance - Notable gainers in the pharmaceutical sector included: - China Medicine (600056) with a closing price of 11.21, up 2.28% and a trading volume of 531,600 shares, totaling 593 million yuan [1] - Yixin Pharmacy (002727) closed at 14.09, up 0.64% with a trading volume of 220,100 shares, totaling 311 million yuan [1] - Major decliners included: - Renmin Tongtai (600829) closed at 12.35, down 4.93% with a trading volume of 432,700 shares, totaling 537 million yuan [2] - Saili Medical (603716) closed at 23.29, down 4.71% with a trading volume of 157,600 shares, totaling 374 million yuan [2] Capital Flow - The pharmaceutical commercial sector experienced a net outflow of 528 million yuan from institutional investors, while retail investors saw a net inflow of 603 million yuan [2] - The capital flow for key stocks showed: - China Medicine had a net inflow of 32.15 million yuan from institutional investors, but a net outflow of 15.57 million yuan from retail investors [3] - Shanghai Pharmaceutical (601607) had a net inflow of 9.01 million yuan from institutional investors, with a significant net outflow of 32.51 million yuan from retail investors [3]

Core Insights - The aging population in China is leading to an increase in cardiovascular diseases, with rising prevalence of chronic conditions such as hypertension and hyperlipidemia, driving demand for cardiovascular drugs [1][8] - There is a significant increase in health awareness among residents, leading to earlier screening and treatment of cardiovascular diseases, which expands the applicable population for cardiovascular medications [1][8] - The implementation of centralized drug procurement policies is causing a downward trend in drug prices, putting pressure on the overall market size, which is projected to decline to 954.1 billion yuan for traditional Chinese medicine and 1,415.8 billion yuan for chemical drugs by 2025 [1][8] Market Overview - Cardiovascular diseases encompass both cardiovascular and cerebrovascular diseases, primarily caused by conditions like hyperlipidemia, blood viscosity, atherosclerosis, and hypertension [2] - Cardiovascular drugs are classified into two main categories: cardiovascular system drugs and cerebrovascular system drugs, targeting various heart and brain-related conditions [2] Policy Environment - The pharmaceutical manufacturing industry, including cardiovascular drugs, is a key focus of national policy support, with various regulations aimed at correcting malpractices and promoting industry development [3][4] Industry Chain - The upstream of the cardiovascular drug industry includes chemical raw materials, traditional Chinese medicinal materials, and pharmaceutical packaging materials, while the midstream involves research, production, and registration processes [4][5] Demand Dynamics - Cardiovascular diseases are the leading cause of death in China, with hypertension cases expected to reach 370 million and coronary heart disease cases at 30 million by 2025, indicating a growing demand for cardiovascular medications [6][8] Competitive Landscape - The market has developed a dual competitive structure, with foreign companies dominating the chemical drug sector and local companies leading in traditional Chinese medicine, creating a competitive environment [10] - Notable domestic players include Shijiazhuang Pharmaceutical Group and Shandong Buchang Pharmaceutical, which have established strong market positions through unique products and effective distribution networks [10][11] Development Trends - The industry is shifting from reliance on generic drugs to innovation, focusing on high-value drug development, including targeted and biological drugs [12] - There is a growing integration of chronic disease management with digital tools, enhancing patient adherence and treatment precision [13] - Policy reforms are reshaping market dynamics, emphasizing high clinical value drugs and expanding the market for basic medications in primary healthcare [14] - The industry is moving towards a collaborative ecosystem, with increased internationalization efforts and participation in global clinical trials [15]

Core Viewpoint - Shanghai Pharmaceuticals (601607.SH) has received a drug registration certificate from the Health Sciences Authority (HSA) of Singapore for its Pregabalin capsules, allowing the product to be marketed [1] Group 1: Product Approval and Indications - Pregabalin capsules are primarily used for the treatment of postherpetic neuralgia, diabetic peripheral neuropathy, fibromyalgia, spinal cord injury-related neuropathic pain, and as an adjunctive treatment for epilepsy [1] - The product's research and development were completed by Changzhou Pharmaceutical Factory in October 2019, and it received approval from the U.S. Food and Drug Administration in July 2021 [1] Group 2: Market Expansion and Investment - The drug has also been approved for market entry in Thailand by June 2025, indicating a strategic expansion into Southeast Asian markets [1] - The company has invested approximately RMB 2.19 million in research and development for the product's launch in Southeast Asia, which includes Thailand, Singapore, Malaysia, and the Philippines [1]

Group 1 - Shanghai Pharmaceuticals has received approval for the production of Avatrombopag Maleate Tablets from the National Medical Products Administration [1][2] - The drug is indicated for adult patients with chronic liver disease-related thrombocytopenia undergoing elective diagnostic procedures or surgery, and for adults with chronic primary immune thrombocytopenia (ITP) who have had inadequate responses to previous treatments [3] - The company has invested approximately RMB 9.8961 million in the research and development of this drug as of the announcement date [3] Group 2 - The drug's approval is expected to enhance market share and competitiveness, benefiting from greater support in medical insurance and procurement due to its new registration classification [5] - The total procurement amount for Avatrombopag Maleate Tablets in hospitals in mainland China is projected to be RMB 566.56 million in 2024 [4] Group 3 - Shanghai Pharmaceuticals' subsidiary, Changzhou Pharmaceutical Factory, has received a drug registration certificate for Pregabalin Capsules from the Health Sciences Authority of Singapore, allowing it to market the drug in Singapore [8][9] - Pregabalin Capsules are indicated for the treatment of neuropathic pain and as an adjunct therapy for epilepsy, with a total investment of approximately RMB 2.19 million in R&D for the Southeast Asian market [9] - The sales revenue for Pregabalin Capsules in Singapore is estimated to be USD 2 million in 2024 [11]

Core Viewpoint - Shanghai Pharmaceuticals announced that its subsidiary, Changzhou Pharmaceutical Factory, received a drug registration certificate from the Health Sciences Authority (HSA) of Singapore for the drug Pregabalin capsules, which has been approved for market launch [1]. Group 1 - The drug Pregabalin capsules have been officially approved for sale in Singapore [1]. - The approval was granted by the Health Sciences Authority (HSA) of Singapore [1].

Core Viewpoint - Shanghai Pharmaceuticals has received approval from the Singapore Food and Drug Administration for the marketing of Pregabalin capsules, indicating a significant milestone for the company in expanding its product offerings in the international market [1]. Group 1 - The approved Pregabalin capsules are primarily used for treating postherpetic neuralgia, diabetic peripheral neuropathy, fibromyalgia, and neuropathic pain due to spinal cord injury, as well as for adjunctive treatment of epilepsy [1].

Core Viewpoint - The recent policy document issued by multiple government departments aims to promote high-quality development in the pharmaceutical retail industry, leading to a surge in stock prices of major pharmacy chains in the A-share market [1][3]. Group 1: Policy Measures - The policy document outlines 18 specific measures to enhance the pharmaceutical retail sector, focusing on professionalization, digitalization, and regulatory compliance [1]. - Key initiatives include improving pharmacy service capabilities, supporting mergers and acquisitions among retail pharmacies, and fostering a fair competitive market environment [2]. Group 2: Market Impact - The policy is expected to drive mergers and acquisitions, increasing industry concentration and facilitating the transition of pharmacies from "drug sales" to "comprehensive services" [2]. - Leading pharmacy chains such as Yifeng Pharmacy and Dacelins have seen significant stock price increases, with Yifeng's store count projected to exceed 14,666 by September 2025, and Dacelins operating 17,385 stores [3]. Group 3: Benefits to Other Companies - Other pharmaceutical companies like Shanghai Pharmaceuticals, China Resources Pharmaceutical, and Jiuzhoutong are anticipated to benefit from the integration of wholesale and retail operations, enhancing their revenue potential [3]. - The policy encourages retail pharmacies to enhance their service capabilities, which may benefit digital and supply chain service providers in the healthcare sector [4].

Core Viewpoint - Shanghai Pharmaceuticals (02607.HK) announced that its subsidiary, Changzhou Pharmaceutical Factory, has received a drug registration certificate from the Health Sciences Authority (HSA) of Singapore for Pregabalin capsules, which have been approved for market launch [1] Group 1 - The approved drug, Pregabalin capsules, is primarily used for the treatment of postherpetic neuralgia, diabetic peripheral neuropathy, fibromyalgia, and neuropathic pain due to spinal cord injury, as well as for adjunctive treatment of epilepsy [1]

香港交易及結算所有限公司和香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 上 海 醫 藥 集 團 股 份 有 限 公 司 Shanghai Pharmaceuticals Holding Co., Ltd. * 承董事會命 上海醫藥集團股份有限公司 楊秋華 董事長 中國上海，2026 年 1 月 24 日 於本公告日期，本公司的執行董事為楊秋華先生、沈波先生、李永忠先生及董明 先生；非執行董事為張文學先生；以及獨立非執行董事為顧朝陽先生、霍文遜先 生、王忠先生及萬鈞女士。 * 僅供識別 （於中華人民共和國註冊成立的股份有限公司） （股份代碼：02607） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條而作出。 茲載列上海醫藥集團股份有限公司（「本公司」）在上海證券交易所網站(http://www.sse.com.cn) 刊登的《上海醫藥集團股份有限公司關於普瑞巴林膠囊獲得新加坡藥品註冊證書的公告》、 《上海醫藥集團股份有限公司關於馬來酸阿伐曲 ...