Various departments such as the Beijing Municipal Medical Security Administration and the Beijing Drug Administration issued a number of measures to support the high-quality development of innovative medicines in Beijing (2024).

Among them, it is proposed to encourage social capital to invest in the construction of research hospitals, support them to cooperate with medical institutions in Beijing to achieve complementary advantages, attract high-level global clinical trials and domestic pioneering iconic clinical research projects, and carry out simultaneous multi-center clinical trials;

Support its in-depth cooperation with innovative pharmaceutical companies, build a verification and demonstration center for innovative pharmaceutical devices, and accelerate the transformation and application of achievements.

Promote the implementation of a national innovation pilot project to “reduce the review time limit for drug supplement applications from 200 days to 60 days, and reduce the time limit for drug clinical trial approval from 60 days to 30 days”.

Recently, the governments of Beijing, Guangzhou, Zhuhai and other places have successively issued favorable policies to support the high-quality development of innovative drugs, and issued corresponding support policies from various industrial chains to promote the development of innovative drugs in all aspects.

Donghai Securities believes that in conjunction with the earlier government work report, which clearly mentioned support for innovative drugs, etc., it can be seen that from the national level to the local level, support for innovative drugs is being strengthened more than ever before, and that innovative drugs, as representatives of new quality productivity, will enter a new period of rapid development.

Innovative drug-related companies include:

BeiGene (06160), Rongchang Biotech (09995), Hehuang Pharmaceutical (00013), Kangfang Biology (09926), Cinda Biotech (01801), Junshi Biotech (01877), China Biopharmaceuticals (01177), etc.

Kangzhe Pharmaceutical (00867): Three innovative drugs were successfully approved for marketing in China and included in the national health insurance catalogue.

Xiansheng Pharmaceutical (02096): As of the date of this announcement, the group has six commercialized innovative drugs and nearly 60 innovative drug development pipelines. It is currently carrying out registered clinical studies on 15 new drug molecules, including 3 new drug molecules in the NDA or phase III clinical research stage, 12 new drug molecules in phase I/II, and about 40 types of pre-clinical drug candidates. Innovative drug forms under development cover monoclonal antibodies, bispecific antibodies, polyantibodies, fusion proteins, ADC and small molecule drugs. The rich pipeline reserves have great clinical and commercial potential, and are expected to help more patients.

Oconvision Bio-B (01477): OT-202, the first novel drug of its kind to treat dry eye, has reached the main clinical end of phase II clinical trials.

Kangzhe Pharmaceutical (00867): Innovative drugs, the highly selective TyK2 inhibitor CMS-D001 and the GnRH receptor antagonist CMS-D002, received approval notices for drug clinical trials.