医药行业创新药周报：2024年12月第四周创新药周报

Investment Rating - The report maintains an "Outperform" rating for the pharmaceutical industry [8]. Core Insights - The report highlights three main investment themes for the pharmaceutical industry in 2025: innovation, international expansion, and thematic investments [8]. - The A-share innovative drug sector experienced a decline of 0.38% this week, underperforming the CSI 300 index by 1.74 percentage points, while the biopharmaceutical sector fell by 2.12% [8][21]. - The Hong Kong innovative drug sector rose by 0.66%, lagging behind the Hang Seng Index by 1.21 percentage points [51]. - The XBI index decreased by 0.61% this week, with a cumulative decline of 1.5% over the past six months [25]. Summary by Sections 1. Market Performance - A total of 38 stocks in the innovative drug sector rose, while 70 stocks fell during the last week of December [47]. - The top three gainers were Heptares Therapeutics-B (+34.33%), Terns Pharmaceuticals-B (+17.65%), and Double-Crane Pharmaceutical (+10.76%) [47]. - The top three decliners were Chuangsheng Group-B (-13.64%), Lepu Biopharma-B (-11.74%), and Yipin Hong (-9.81%) [47]. 2. Drug Approval Progress - In December, 11 new drugs were approved in China, with no new indications approved this week [28][61]. - The U.S. saw five NDA approvals and four BLA approvals in December, but no approvals were reported this week [30][61]. - Europe and Japan reported no new innovative drug approvals in December [33][83]. 3. Clinical Trials and Drug Development - The report indicates that there are currently 11 GLP-1 receptor agonist drugs approved for diabetes, with three in the NDA stage and nine in Phase III clinical trials [14]. - For obesity, three GLP-1 receptor agonist drugs are approved, with one in the NDA stage and six in Phase III clinical trials [15]. 4. Sales Performance - The report notes that sales for the drug Tirzepatide (Mounjaro) reached $5.163 billion in 2023, reflecting a 970.1$21.157 billion in 2023, with significant growth in both diabetes and weight loss indications [46].