1156 lines
60 KiB
HTML
1156 lines
60 KiB
HTML
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<!DOCTYPE html>
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<html lang="zh-CN">
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<head>
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<meta charset="utf-8" />
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<meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
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<title>减肥药-众生药业RAY1225双靶点行业分析报告</title>
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<link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
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<link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
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<link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
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<link href="https://cdn.jsdelivr.net/npm/daisyui@5/themes.css" rel="stylesheet" type="text/css" />
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<script src="https://cdn.jsdelivr.net/npm/chart.js"></script>
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<style>
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@import url('https://fonts.googleapis.com/css2?family=Noto+Sans+SC:wght@300;400;500;700;900&display=swap');
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body {
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font-family: 'Noto Sans SC', 'Inter', sans-serif;
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background: linear-gradient(135deg, #f5f7fa 0%, #e4e8f0 100%);
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min-height: 100vh;
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}
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.card {
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backdrop-filter: blur(10px);
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background-color: rgba(255, 255, 255, 0.85);
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border-radius: 16px;
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box-shadow: 0 8px 32px rgba(31, 38, 135, 0.15);
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border: 1px solid rgba(255, 255, 255, 0.18);
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transition: all 0.3s ease;
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}
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.card:hover {
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transform: translateY(-5px);
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box-shadow: 0 12px 40px rgba(31, 38, 135, 0.2);
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}
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.timeline-dot {
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width: 16px;
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height: 16px;
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border-radius: 50%;
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background-color: #3b82f6;
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position: relative;
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z-index: 1;
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}
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.timeline-line {
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position: absolute;
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top: 16px;
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left: 8px;
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width: 2px;
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height: calc(100% - 16px);
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background-color: #e5e7eb;
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}
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.table-container {
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overflow-x: auto;
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}
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.table-container table {
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min-width: 100%;
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}
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.gradient-text {
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background: linear-gradient(90deg, #3b82f6, #8b5cf6);
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-webkit-background-clip: text;
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-webkit-text-fill-color: transparent;
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background-clip: text;
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}
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.badge {
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display: inline-flex;
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align-items: center;
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padding: 0.25rem 0.75rem;
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border-radius: 9999px;
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font-size: 0.75rem;
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font-weight: 500;
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}
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.badge-blue {
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background-color: rgba(59, 130, 246, 0.1);
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color: #3b82f6;
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}
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.badge-green {
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background-color: rgba(16, 185, 129, 0.1);
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color: #10b981;
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}
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.badge-purple {
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background-color: rgba(139, 92, 246, 0.1);
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color: #8b5cf6;
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}
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.badge-yellow {
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background-color: rgba(245, 158, 11, 0.1);
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color: #f59e0b;
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}
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.progress-bar {
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height: 8px;
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border-radius: 4px;
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overflow: hidden;
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background-color: #e5e7eb;
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}
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.progress-fill {
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height: 100%;
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border-radius: 4px;
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background: linear-gradient(90deg, #3b82f6, #8b5cf6);
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}
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@media (max-width: 768px) {
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.card {
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margin-bottom: 1rem;
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}
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.table-container {
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font-size: 0.875rem;
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}
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}
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</style>
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</head>
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<body class="p-4 md:p-8">
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<div class="max-w-7xl mx-auto">
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<!-- 标题和简介 -->
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<div class="card p-6 mb-8">
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<h1 class="text-3xl md:text-4xl font-bold mb-4 gradient-text">减肥药-众生药业RAY1225双靶点</h1>
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<p class="text-gray-600 mb-6">GLP-1/GIP双靶点长效减肥药，通过每两周一次给药实现减重与降糖双重疗效</p>
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<div class="flex flex-wrap gap-4 mb-6">
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<div class="badge badge-blue">
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<i class="fas fa-flask mr-2"></i>双靶点机制
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</div>
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<div class="badge badge-green">
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<i class="fas fa-syringe mr-2"></i>长效给药(Q2W)
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</div>
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<div class="badge badge-purple">
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<i class="fas fa-chart-line mr-2"></i>减重15.05%
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</div>
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<div class="badge badge-yellow">
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<i class="fas fa-handshake mr-2"></i>BD预期
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</div>
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</div>
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</div>
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<!-- 概念事件和时间轴 -->
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<div class="card p-6 mb-8">
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<h2 class="text-2xl font-bold mb-6 text-gray-800">概念事件与时间轴</h2>
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<div class="relative pl-8">
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<div class="timeline-line"></div>
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<div class="relative mb-8">
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<div class="timeline-dot absolute -left-8"></div>
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<div class="bg-blue-50 p-4 rounded-lg">
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<div class="flex justify-between items-center mb-2">
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<h3 class="font-bold text-blue-700">2024年2月</h3>
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<span class="text-sm text-gray-500">II期临床启动</span>
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</div>
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<p class="text-gray-700">启动减重与降糖两项II期临床试验（REBUILDING-1/SHINING-1），完成首例入组</p>
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</div>
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</div>
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<div class="relative mb-8">
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<div class="timeline-dot absolute -left-8"></div>
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<div class="bg-green-50 p-4 rounded-lg">
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<div class="flex justify-between items-center mb-2">
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<h3 class="font-bold text-green-700">2024年11月</h3>
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<span class="text-sm text-gray-500">II期数据披露</span>
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</div>
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<p class="text-gray-700">II期顶线数据披露，<strong>9mg组24周减重15.05%</strong>，显著优于替尔泊肽（礼来竞品）</p>
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</div>
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</div>
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<div class="relative mb-8">
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<div class="timeline-dot absolute -left-8"></div>
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<div class="bg-purple-50 p-4 rounded-lg">
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<div class="flex justify-between items-center mb-2">
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<h3 class="font-bold text-purple-700">2025年5月</h3>
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<span class="text-sm text-gray-500">III期临床启动</span>
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</div>
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<p class="text-gray-700">III期临床试验启动，目标2026年Q3读出数据</p>
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</div>
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</div>
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<div class="relative">
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<div class="timeline-dot absolute -left-8"></div>
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<div class="bg-yellow-50 p-4 rounded-lg">
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<div class="flex justify-between items-center mb-2">
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<h3 class="font-bold text-yellow-700">2025年6月</h3>
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<span class="text-sm text-gray-500">ADA会议展示+BD预期</span>
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</div>
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<p class="text-gray-700">亮相美国ADA会议，展示安全性优势（胃肠道不良反应率<strong>较替尔泊肽低27.5%</strong>），并透露<strong>多家MNC（跨国药企）BD洽谈中</strong></p>
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</div>
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</div>
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</div>
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</div>
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<!-- 核心观点摘要 -->
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<div class="card p-6 mb-8">
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<h2 class="text-2xl font-bold mb-6 text-gray-800">核心观点摘要</h2>
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<div class="grid grid-cols-1 md:grid-cols-3 gap-6">
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<div class="bg-blue-50 p-5 rounded-lg">
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<div class="text-blue-600 mb-3">
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<i class="fas fa-clipboard-list text-2xl"></i>
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</div>
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<h3 class="font-bold text-lg mb-2">阶段判断</h3>
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<p class="text-gray-700">RAY1225处于<strong>III期临床启动初期</strong>，技术验证（II期数据）已完成，商业化路径清晰（BD出海+国内医保）</p>
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</div>
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<div class="bg-green-50 p-5 rounded-lg">
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<div class="text-green-600 mb-3">
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<i class="fas fa-rocket text-2xl"></i>
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</div>
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<h3 class="font-bold text-lg mb-2">核心驱动力</h3>
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<p class="text-gray-700"><strong>双靶点机制+长效给药</strong>（Q2W）形成差异化，减重效果对标替尔泊肽但剂量更低（<strong>总剂量仅为竞品1/3</strong>），安全性显著优化</p>
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</div>
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<div class="bg-purple-50 p-5 rounded-lg">
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<div class="text-purple-600 mb-3">
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<i class="fas fa-chart-pie text-2xl"></i>
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</div>
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<h3 class="font-bold text-lg mb-2">未来潜力</h3>
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<p class="text-gray-700">若III期成功，<strong>2027年国内峰值销售额或达30亿元</strong>（研报预测），BD授权可能带来<strong>一次性收益+分成</strong></p>
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</div>
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</div>
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</div>
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<!-- 核心逻辑与市场认知分析 -->
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<div class="card p-6 mb-8">
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<h2 class="text-2xl font-bold mb-6 text-gray-800">核心逻辑与市场认知分析</h2>
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<div class="mb-8">
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<h3 class="text-xl font-bold mb-4 text-blue-700">核心驱动力</h3>
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<div class="grid grid-cols-1 md:grid-cols-2 gap-6">
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<div class="bg-white border border-gray-200 rounded-lg p-5">
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<h4 class="font-bold mb-3 flex items-center">
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<i class="fas fa-microscope text-blue-600 mr-2"></i>技术突破
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</h4>
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<ul class="space-y-2 text-gray-700">
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<li class="flex items-start">
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<i class="fas fa-check-circle text-green-500 mt-1 mr-2"></i>
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<span><strong>双靶点协同</strong>：GLP-1/GIP双重激动，减重效果优于单靶点（如司美格鲁肽）</span>
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</li>
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<li class="flex items-start">
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<i class="fas fa-check-circle text-green-500 mt-1 mr-2"></i>
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<span><strong>长效化设计</strong>：半衰期<strong>9-11天</strong>（替尔泊肽4-5天），实现<strong>Q2W给药</strong>，降低患者年注射次数（26次 vs 52次）</span>
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</li>
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<li class="flex items-start">
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<i class="fas fa-check-circle text-green-500 mt-1 mr-2"></i>
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<span><strong>剂量优势</strong>：<strong>6mg组减重12.98%</strong>（总剂量50mg），替尔泊肽15mg组需<strong>210mg</strong>（24周）</span>
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</li>
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</ul>
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</div>
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<div class="bg-white border border-gray-200 rounded-lg p-5">
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<h4 class="font-bold mb-3 flex items-center">
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<i class="fas fa-balance-scale text-green-600 mr-2"></i>政策与需求共振
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</h4>
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<ul class="space-y-2 text-gray-700">
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<li class="flex items-start">
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<i class="fas fa-check-circle text-green-500 mt-1 mr-2"></i>
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<span>国内肥胖人群<strong>2025年预计达1.4亿</strong>，GLP-1药物渗透率不足1%，医保扩容（减重适应症或纳入）</span>
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</li>
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<li class="flex items-start">
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<i class="fas fa-check-circle text-green-500 mt-1 mr-2"></i>
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<span>集采背景下，<strong>差异化创新药溢价能力更强</strong>（替尔泊肽未进医保，自费年费用约2万元）</span>
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</li>
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</ul>
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</div>
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</div>
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</div>
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<div class="mb-8">
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<h3 class="text-xl font-bold mb-4 text-green-700">市场热度与情绪</h3>
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<div class="grid grid-cols-1 md:grid-cols-2 gap-6">
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<div class="bg-white border border-gray-200 rounded-lg p-5">
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<h4 class="font-bold mb-3 flex items-center">
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<i class="fas fa-newspaper text-blue-600 mr-2"></i>研报密集度
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</h4>
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<p class="text-gray-700 mb-3">2024年8月-2025年6月，<strong>12篇深度报告</strong>覆盖，一致预期"国产替尔泊肽"</p>
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<div class="progress-bar">
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<div class="progress-fill" style="width: 85%"></div>
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</div>
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<p class="text-sm text-gray-500 mt-2">市场关注度指数: 85%</p>
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</div>
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<div class="bg-white border border-gray-200 rounded-lg p-5">
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<h4 class="font-bold mb-3 flex items-center">
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<i class="fas fa-smile text-yellow-600 mr-2"></i>情绪指标
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</h4>
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<div class="space-y-3">
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<div>
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<div class="flex justify-between mb-1">
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<span class="text-sm font-medium text-green-600">正面因素</span>
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<span class="text-sm text-gray-500">75%</span>
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</div>
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<div class="progress-bar">
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<div class="progress-fill bg-green-500" style="width: 75%"></div>
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</div>
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<p class="text-xs text-gray-600 mt-1">II期数据超预期，ADA会议引发外资关注</p>
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||
</div>
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<div>
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<div class="flex justify-between mb-1">
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<span class="text-sm font-medium text-yellow-600">分歧因素</span>
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<span class="text-sm text-gray-500">40%</span>
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||
</div>
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||
<div class="progress-bar">
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||
<div class="progress-fill bg-yellow-500" style="width: 40%"></div>
|
||
</div>
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||
<p class="text-xs text-gray-600 mt-1">III期入组速度，BD落地时间未定</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-bold mb-4 text-purple-700">预期差分析</h3>
|
||
|
||
<div class="overflow-x-auto">
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||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
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<thead>
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||
<tr class="bg-gray-50">
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||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">市场预期</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">实际进展/潜在偏差</th>
|
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<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">影响</th>
|
||
</tr>
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||
</thead>
|
||
<tbody>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">2026年上市</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">III期需2026Q3完成，<strong>或延迟至2027年</strong></td>
|
||
<td class="py-3 px-4 text-sm text-red-600">估值下修风险</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">BD授权2025年落地</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">仅"积极接触"，<strong>无明确条款</strong></td>
|
||
<td class="py-3 px-4 text-sm text-yellow-600">短期股价波动</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 text-sm text-gray-700">对标替尔泊肽定价</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">医保谈判或降价50%（参考司美格鲁肽）</td>
|
||
<td class="py-3 px-4 text-sm text-red-600">峰值销售额下调</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 关键催化剂与未来发展路径 -->
|
||
<div class="card p-6 mb-8">
|
||
<h2 class="text-2xl font-bold mb-6 text-gray-800">关键催化剂与未来发展路径</h2>
|
||
|
||
<div class="grid grid-cols-1 md:grid-cols-2 gap-8">
|
||
<div>
|
||
<h3 class="text-xl font-bold mb-4 text-blue-700">近期催化剂（3-6个月）</h3>
|
||
|
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<div class="space-y-4">
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||
<div class="flex items-start">
|
||
<div class="bg-blue-100 rounded-full p-2 mr-3">
|
||
<i class="fas fa-users text-blue-600"></i>
|
||
</div>
|
||
<div>
|
||
<h4 class="font-bold text-gray-800">III期入组里程碑</h4>
|
||
<p class="text-gray-600 text-sm">2025年Q3完成50%入组（需跟踪CRO进度）</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="flex items-start">
|
||
<div class="bg-green-100 rounded-full p-2 mr-3">
|
||
<i class="fas fa-handshake text-green-600"></i>
|
||
</div>
|
||
<div>
|
||
<h4 class="font-bold text-gray-800">BD进展</h4>
|
||
<p class="text-gray-600 text-sm">与<strong>诺和诺德/礼来</strong>的授权谈判（条款：首付<strong>2-5亿美元</strong>+分成10-15%）</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="flex items-start">
|
||
<div class="bg-purple-100 rounded-full p-2 mr-3">
|
||
<i class="fas fa-file-medical text-purple-600"></i>
|
||
</div>
|
||
<div>
|
||
<h4 class="font-bold text-gray-800">医保谈判</h4>
|
||
<p class="text-gray-600 text-sm">2025年11月减重适应症纳入医保目录（概率60%）</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-bold mb-4 text-green-700">长期路径（2025-2028）</h3>
|
||
|
||
<div class="relative">
|
||
<div class="absolute left-4 top-0 bottom-0 w-0.5 bg-gray-200"></div>
|
||
|
||
<div class="relative pl-10 pb-6">
|
||
<div class="absolute left-3 top-1 w-3 h-3 rounded-full bg-blue-500"></div>
|
||
<div class="bg-blue-50 p-3 rounded-lg">
|
||
<p class="font-medium text-gray-800">2025-2026</p>
|
||
<p class="text-sm text-gray-600">III期临床完成→申报NDA→获批上市</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="relative pl-10 pb-6">
|
||
<div class="absolute left-3 top-1 w-3 h-3 rounded-full bg-green-500"></div>
|
||
<div class="bg-green-50 p-3 rounded-lg">
|
||
<p class="font-medium text-gray-800">2027-2028</p>
|
||
<p class="text-sm text-gray-600">国内销售峰值<strong>30亿元</strong>（假设渗透率5%），BD分成贡献<strong>5-8亿元/年</strong></p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="relative pl-10">
|
||
<div class="absolute left-3 top-1 w-3 h-3 rounded-full bg-purple-500"></div>
|
||
<div class="bg-purple-50 p-3 rounded-lg">
|
||
<p class="font-medium text-gray-800">2029+</p>
|
||
<p class="text-sm text-gray-600">拓展MASH（非酒精性脂肪肝炎）适应症，<strong>新增50亿市场</strong></p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 产业链与核心公司深度剖析 -->
|
||
<div class="card p-6 mb-8">
|
||
<h2 class="text-2xl font-bold mb-6 text-gray-800">产业链与核心公司深度剖析</h2>
|
||
|
||
<div class="mb-8">
|
||
<h3 class="text-xl font-bold mb-4 text-blue-700">产业链图谱</h3>
|
||
|
||
<div class="flex flex-col md:flex-row justify-between items-center bg-gray-50 p-5 rounded-lg">
|
||
<div class="text-center mb-4 md:mb-0">
|
||
<div class="bg-blue-100 rounded-full w-16 h-16 flex items-center justify-center mx-auto mb-2">
|
||
<i class="fas fa-industry text-blue-600 text-xl"></i>
|
||
</div>
|
||
<h4 class="font-bold text-gray-800">上游</h4>
|
||
<p class="text-sm text-gray-600">原料药（<strong>圣诺生物</strong>已备案DMF）、CXO（<strong>药明康德</strong>临床服务）</p>
|
||
</div>
|
||
|
||
<div class="text-center mb-4 md:mb-0">
|
||
<i class="fas fa-arrow-right text-gray-400 text-2xl mx-4"></i>
|
||
</div>
|
||
|
||
<div class="text-center mb-4 md:mb-0">
|
||
<div class="bg-green-100 rounded-full w-16 h-16 flex items-center justify-center mx-auto mb-2">
|
||
<i class="fas fa-flask text-green-600 text-xl"></i>
|
||
</div>
|
||
<h4 class="font-bold text-gray-800">中游</h4>
|
||
<p class="text-sm text-gray-600"><strong>众生药业</strong>（研发+生产），<strong>博瑞医药</strong>（三靶点竞品BGM0504）</p>
|
||
</div>
|
||
|
||
<div class="text-center mb-4 md:mb-0">
|
||
<i class="fas fa-arrow-right text-gray-400 text-2xl mx-4"></i>
|
||
</div>
|
||
|
||
<div class="text-center">
|
||
<div class="bg-purple-100 rounded-full w-16 h-16 flex items-center justify-center mx-auto mb-2">
|
||
<i class="fas fa-store text-purple-600 text-xl"></i>
|
||
</div>
|
||
<h4 class="font-bold text-gray-800">下游</h4>
|
||
<p class="text-sm text-gray-600">医院渠道（1万家覆盖）+线上药房（京东/阿里已上架流感药昂拉地韦）</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-bold mb-4 text-green-700">核心玩家对比</h3>
|
||
|
||
<div class="overflow-x-auto">
|
||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
|
||
<thead>
|
||
<tr class="bg-gray-50">
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">公司</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">项目</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">进展</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">差异化优势</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">风险点</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr class="border-b bg-blue-50">
|
||
<td class="py-3 px-4 text-sm font-bold text-gray-800">众生药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">RAY1225</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">III期</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700"><strong>Q2W给药+低剂量高效</strong></td>
|
||
<td class="py-3 px-4 text-sm text-red-600">III期延迟/BD落空</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">博瑞医药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">BGM0504</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">III期</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">三靶点（GLP-1/GIP/GCG）</td>
|
||
<td class="py-3 px-4 text-sm text-red-600">安全性数据待验证</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">恒瑞医药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">HRS9531</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">III期</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">国内进度最快（2025年申报）</td>
|
||
<td class="py-3 px-4 text-sm text-red-600">集采降价压力</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 text-sm text-gray-700">礼来</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">替尔泊肽</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">已上市</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">全球标杆，减重20%+</td>
|
||
<td class="py-3 px-4 text-sm text-red-600">未进医保，自费限制</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
|
||
<div class="mt-6 bg-yellow-50 p-4 rounded-lg">
|
||
<h4 class="font-bold text-gray-800 mb-2">验证与证伪</h4>
|
||
<ul class="space-y-2 text-sm text-gray-700">
|
||
<li class="flex items-start">
|
||
<i class="fas fa-check-circle text-green-500 mt-1 mr-2"></i>
|
||
<span><strong>数据印证</strong>：II期减重15% vs 替尔泊肽15mg组（非头对头），<strong>剂量仅为1/3</strong>，逻辑成立</span>
|
||
</li>
|
||
<li class="flex items-start">
|
||
<i class="fas fa-exclamation-circle text-yellow-500 mt-1 mr-2"></i>
|
||
<span><strong>风险信号</strong>：III期入组速度<strong>慢于恒瑞</strong>（众生需500例，恒瑞已启动800例），或反映临床资源竞争</span>
|
||
</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 潜在风险与挑战 -->
|
||
<div class="card p-6 mb-8">
|
||
<h2 class="text-2xl font-bold mb-6 text-gray-800">潜在风险与挑战</h2>
|
||
|
||
<div class="overflow-x-auto">
|
||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
|
||
<thead>
|
||
<tr class="bg-gray-50">
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">风险类型</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">具体表现</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">概率</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">影响程度</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm font-bold text-red-600">技术风险</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">III期疗效不及II期（如减重<10%）</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">20%</td>
|
||
<td class="py-3 px-4 text-sm">
|
||
<div class="flex items-center">
|
||
<div class="w-full bg-gray-200 rounded-full h-2.5 mr-2">
|
||
<div class="bg-red-600 h-2.5 rounded-full" style="width: 100%"></div>
|
||
</div>
|
||
<span class="text-sm font-medium text-red-600">高</span>
|
||
</div>
|
||
</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm font-bold text-yellow-600">商业化风险</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">医保谈判降价超预期（>50%）</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">40%</td>
|
||
<td class="py-3 px-4 text-sm">
|
||
<div class="flex items-center">
|
||
<div class="w-full bg-gray-200 rounded-full h-2.5 mr-2">
|
||
<div class="bg-yellow-500 h-2.5 rounded-full" style="width: 60%"></div>
|
||
</div>
|
||
<span class="text-sm font-medium text-yellow-600">中</span>
|
||
</div>
|
||
</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm font-bold text-blue-600">竞争风险</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">恒瑞HRS9531抢先上市（2026年）</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">30%</td>
|
||
<td class="py-3 px-4 text-sm">
|
||
<div class="flex items-center">
|
||
<div class="w-full bg-gray-200 rounded-full h-2.5 mr-2">
|
||
<div class="bg-blue-500 h-2.5 rounded-full" style="width: 60%"></div>
|
||
</div>
|
||
<span class="text-sm font-medium text-blue-600">中</span>
|
||
</div>
|
||
</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 text-sm font-bold text-purple-600">信息矛盾</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">路演称"BD进展顺利"，但无条款披露</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">-</td>
|
||
<td class="py-3 px-4 text-sm">
|
||
<div class="flex items-center">
|
||
<div class="w-full bg-gray-200 rounded-full h-2.5 mr-2">
|
||
<div class="bg-purple-500 h-2.5 rounded-full" style="width: 40%"></div>
|
||
</div>
|
||
<span class="text-sm font-medium text-purple-600">短期波动</span>
|
||
</div>
|
||
</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 综合结论与投资启示 -->
|
||
<div class="card p-6 mb-8">
|
||
<h2 class="text-2xl font-bold mb-6 text-gray-800">综合结论与投资启示</h2>
|
||
|
||
<div class="grid grid-cols-1 md:grid-cols-2 gap-8">
|
||
<div>
|
||
<h3 class="text-xl font-bold mb-4 text-blue-700">阶段判断</h3>
|
||
<div class="bg-blue-50 p-5 rounded-lg">
|
||
<p class="text-gray-700 mb-4"><strong>主题炒作向基本面过渡</strong>（II期数据验证→III期催化）</p>
|
||
<div class="flex items-center justify-center mb-4">
|
||
<div class="relative w-full h-2 bg-gray-200 rounded-full">
|
||
<div class="absolute top-0 left-0 h-full bg-gradient-to-r from-blue-400 to-green-500 rounded-full" style="width: 65%"></div>
|
||
<div class="absolute top-0 left-0 h-full w-1/3 bg-blue-500 rounded-full"></div>
|
||
<div class="absolute top-0 left-1/3 h-full w-1/3 bg-green-500 rounded-full"></div>
|
||
<div class="absolute top-0 left-2/3 h-full w-1/3 bg-gray-300 rounded-full"></div>
|
||
</div>
|
||
</div>
|
||
<div class="flex justify-between text-xs text-gray-600">
|
||
<span>概念期</span>
|
||
<span>验证期</span>
|
||
<span>商业化</span>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-bold mb-4 text-green-700">投资价值</h3>
|
||
<div class="space-y-4">
|
||
<div class="bg-green-50 p-4 rounded-lg">
|
||
<h4 class="font-bold text-gray-800 mb-2">短期</h4>
|
||
<p class="text-gray-700 text-sm">BD授权（<strong>2-5亿美元首付</strong>）+ III期入组节点</p>
|
||
</div>
|
||
|
||
<div class="bg-purple-50 p-4 rounded-lg">
|
||
<h4 class="font-bold text-gray-800 mb-2">长期</h4>
|
||
<p class="text-gray-700 text-sm">国内减重市场<strong>300亿空间</strong>，RAY1225或占10%份额</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="mt-8">
|
||
<h3 class="text-xl font-bold mb-4 text-purple-700">跟踪指标</h3>
|
||
|
||
<div class="grid grid-cols-1 md:grid-cols-3 gap-4">
|
||
<div class="bg-white border border-gray-200 rounded-lg p-4 flex items-start">
|
||
<div class="bg-blue-100 rounded-full p-2 mr-3">
|
||
<i class="fas fa-users text-blue-600"></i>
|
||
</div>
|
||
<div>
|
||
<h4 class="font-bold text-gray-800">III期入组速度</h4>
|
||
<p class="text-sm text-gray-600">每月更新</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="bg-white border border-gray-200 rounded-lg p-4 flex items-start">
|
||
<div class="bg-green-100 rounded-full p-2 mr-3">
|
||
<i class="fas fa-file-contract text-green-600"></i>
|
||
</div>
|
||
<div>
|
||
<h4 class="font-bold text-gray-800">BD条款细节</h4>
|
||
<p class="text-sm text-gray-600">首付金额/分成比例</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="bg-white border border-gray-200 rounded-lg p-4 flex items-start">
|
||
<div class="bg-purple-100 rounded-full p-2 mr-3">
|
||
<i class="fas fa-pills text-purple-600"></i>
|
||
</div>
|
||
<div>
|
||
<h4 class="font-bold text-gray-800">医保谈判进展</h4>
|
||
<p class="text-sm text-gray-600">2025年11月</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="mt-8 bg-gradient-to-r from-blue-50 to-purple-50 p-6 rounded-lg">
|
||
<h3 class="text-xl font-bold mb-4 text-gray-800">结论</h3>
|
||
<p class="text-gray-700 mb-4">RAY1225是<strong>国产GLP-1双靶点最优标的</strong>，当前估值未充分反映BD溢价，建议<strong>逢回调布局</strong>，止损位III期数据不及预期。</p>
|
||
|
||
<div class="flex items-center">
|
||
<div class="bg-green-100 rounded-full p-3 mr-4">
|
||
<i class="fas fa-thumbs-up text-green-600 text-xl"></i>
|
||
</div>
|
||
<div>
|
||
<p class="font-bold text-gray-800">投资建议</p>
|
||
<p class="text-sm text-gray-600">积极关注，逢低布局</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 关联股票数据表格 -->
|
||
<div class="card p-6">
|
||
<h2 class="text-2xl font-bold mb-6 text-gray-800">关联股票数据</h2>
|
||
|
||
<div class="table-container">
|
||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
|
||
<thead>
|
||
<tr class="bg-gray-50">
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">股票</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">项目</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">分类</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">进展</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">市值</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">BD预期</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr class="border-b bg-blue-50">
|
||
<td class="py-3 px-4 text-sm font-bold text-gray-800">众生药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">RAY1225</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">双靶点减肥药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">国内三期伦理批件；美国二期临床</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">118亿</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">2025.6.20参加美国ADA大会，潜在BD预期</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">礼来</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">替尔泊肽</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">双靶点减肥药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">已上市</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">7300亿美金</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">无</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">常山药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">艾本那肽</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">单靶点减肥药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">提交上市申请</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">400亿</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">无</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">联邦制药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">UBT251</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">三靶点减肥药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">2月二期临床</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">278亿港币</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">诺和诺德：2亿美金首付+最高18亿里程碑付款</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">瀚森制药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">HS-20094</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">双靶点减肥药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">国内三期</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">1618亿港币</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">再生元：8000万美金首付+最高19.3亿里程碑付款</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">众生药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">ZSP1601</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">NASH泛PDE抑制剂</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">IIb期数据显著</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">-</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">潜在BD药</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">众生药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">昂拉地韦片</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">甲流特效药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">获批上市</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">-</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">无</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 text-sm text-gray-700">众生药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">来瑞特韦</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">新冠药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">已上市</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">-</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">无</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
|
||
<div class="mt-8">
|
||
<h3 class="text-xl font-bold mb-4 text-gray-800">国产减肥药相关公司</h3>
|
||
|
||
<div class="table-container">
|
||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
|
||
<thead>
|
||
<tr class="bg-gray-50">
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">公司</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">分类</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">项目</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">适应症</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">研发进展</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">来源</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">常山药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">单靶点GLP-1相关</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">艾本那肽注射液</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">降糖/减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">上市许可申请获得国家药监局受理</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">异动公告</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">双鹭药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">单靶点GLP-1相关</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">利拉鲁肽（日制剂）、度拉糖肽（周制剂）</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">降糖/减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">完成临床研究，在申报前准备</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">调研</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">普洛药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">单靶点GLP-1相关</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">司美格鲁肽</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">入组</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">调研</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">翰宇药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">单靶点GLP-1相关</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">司美格鲁肽注射液</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">降糖/减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">完成入组</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">调研</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">智飞生物</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">单靶点GLP-1相关</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">司美格鲁肽</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">完成</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">调研</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">甘李药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">单靶点GLP-1相关</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">GZR18注射液</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">中国III期、美国II期</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">年报</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">信立泰</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">单靶点GLP-1相关</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">SAL0112</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">降糖/减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">II期</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">调研</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">恒瑞医药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">单靶点GLP-1相关</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">HRS-7535</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">II期</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">互动</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">一品红</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">单靶点GLP-1相关</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">APH01727</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">降糖/减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">I期</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">年报</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">新诺威</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">单靶点GLP-1相关</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">TG103</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">拟收购石药百克</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">公告</td>
|
||
</tr>
|
||
<tr class="border-b bg-blue-50">
|
||
<td class="py-3 px-4 text-sm font-bold text-gray-800">众生药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">双靶点</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">RAY1225注射液</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">降糖/减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">中国III期临床试验启动</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">调研</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">博瑞医药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">双靶点</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">BGM0504注射液</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">降糖/减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">III期</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">公告/互动</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">恒瑞医药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">双靶点</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">HRS9531注射液</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">III期</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">互动</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">通化东宝</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">双靶点</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">产品</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">临床试验II期</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">公告</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">康缘药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">双靶点</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">ZX2010注射液</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">降糖/减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">II期</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">公告</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">华东医药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">双靶点</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">HDM1005注射液</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">II期</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">调研</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">乐普医疗</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">三靶点</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">MWN101注射液</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">降糖/减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">完成II期临床试验</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">公告</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">康缘药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">三靶点</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">ZX2021注射液</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">降糖/减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">II期</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">公告</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">恒瑞医药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">三靶点</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">HRS-4729注射液</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">I期</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">互动</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">翰宇药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">三靶点</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">与碳云智能联合开发</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">降糖/减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">其他</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">公告</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="mt-8">
|
||
<h3 class="text-xl font-bold mb-4 text-gray-800">产业链上游公司</h3>
|
||
|
||
<div class="table-container">
|
||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
|
||
<thead>
|
||
<tr class="bg-gray-50">
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">公司</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">分类</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">项目</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">适应症</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">研发进展</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">来源</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">海正药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">原料药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">司美格鲁肽</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">原料药已取得美国DMF备案</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">公告</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">圣诺生物</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">原料药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">司美格鲁肽</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">原料药已取得美国FDA DMF并获得出口欧盟原料药证明文件</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">调研</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">泰恩康</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">原料药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">APL</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">根据客户订单安排生产出货</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">互动</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">美诺华</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">原料药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">中间体</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">原料药中间体</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">互动</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">金凯生科</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">原料药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">SNAC中间体</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">口服制剂吸收促进剂</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">调研</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">奥锐特</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">原料药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">司美格鲁肽</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">完成中试，年产300公斤原料药生产线及配套设施建设</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">互动</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">德展健康</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">原料药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">替尔泊肽</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">完成100L规模发酵罐试验证，天津武清基地生产线建设启动</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">互动</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">诺泰生物</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">原料药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">替尔泊肽</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">原料药已取得美国FDA DMF并获得出口欧盟原料药证明文件</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">调研</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">四环双马</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">原料药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">子公司湖北荆楚</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">主要涉及替尔泊肽、司美格鲁肽等原料药品种</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">公告</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="mt-8">
|
||
<h3 class="text-xl font-bold mb-4 text-gray-800">其他相关公司</h3>
|
||
|
||
<div class="table-container">
|
||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
|
||
<thead>
|
||
<tr class="bg-gray-50">
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">公司</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">分类</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">项目</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">适应症</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">研发进展</th>
|
||
<th class="py-3 px-4 text-left text-sm font-medium text-gray-700 border-b">来源</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">美诺华</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">新型递送系统</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">JH389</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">预计近期申报专利保护后推进BD</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">网传纪要</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">纳微科技</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">反相硅胶色谱填料</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">1公斤索马鲁肽</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">即司美格鲁肽原料药需要消耗约0.8至2公斤反相硅胶色谱填料</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">互动</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">键凯科技</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">聚乙二醇化</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">替尔泊肽侧链</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">tBuO-ICDO-Glu(AEEA-AEEA-OH)-OtBu获FDA的DMF备案，处于早期研发阶段</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">互动</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">睿智医药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">CXO</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">多肽及小分子研发能力</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">助力包括减肥药在内的相关药物研发推进</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">互动</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">圣诺生物</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">CXO</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">GLP-1创新药合作项目</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">多个GLP-1创新药合作项目在有序推进中；客户众生药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">调研</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">百花医药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">CXO</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">皓元医药</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">美迪西</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">其他</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">普蕊斯</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">SMO</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">承接的类减重新药项目</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">个数占公司在执行项目数的比例不高</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">互动</td>
|
||
</tr>
|
||
<tr class="border-b">
|
||
<td class="py-3 px-4 text-sm text-gray-700">英集集团</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">合作</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">开展GLP-1相关产品业务</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">与礼来、诺和诺德等企业持续开展对接与合作</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">互动</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 text-sm text-gray-700">德源药业</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">北交所</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">赛诺生物</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">减重</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">官网重组蛋白原料药包括司美格鲁肽、利拉鲁肽、替尔泊肽</td>
|
||
<td class="py-3 px-4 text-sm text-gray-700">工商/官网</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</body>
|
||
</html>
|
||
``` |