--- title: "Cathay Securities and Haitong Securities: The first year of commercialization for domestic innovative weight loss drugs, there are still many catalysts for related companies in the future" type: "News" locale: "en" url: "https://longbridge.com/en/news/251408970.md" description: "CITIC Securities released a research report stating that 2025 will be the first year of commercialization for domestically produced innovative weight loss drugs, with Innovent Bio's Ma Shidu Peptide Injection already issuing the first prescription nationwide. The firm believes that the development of weight loss drugs in China is progressing rapidly, with excellent clinical data and many catalytic factors expected in the future. Companies such as ZHONGSHENGYAOYE, UNITED LAB, and LAEKNA-B have made significant progress in the research and development of weight loss drugs and possess global competitiveness" datetime: "2025-08-04T08:36:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/251408970.md) - [en](https://longbridge.com/en/news/251408970.md) - [zh-HK](https://longbridge.com/zh-HK/news/251408970.md) --- # Cathay Securities and Haitong Securities: The first year of commercialization for domestic innovative weight loss drugs, there are still many catalysts for related companies in the future According to the Zhitong Finance APP, Guotai Junan released a research report stating that 2025 will be the first year for the commercialization of domestically innovative weight loss drugs with global competitiveness. On July 3rd, Innovent Biologics (01801) launched the first prescription in the country for Ma Shidu peptide injection, marking the official implementation of China's innovative weight loss drug research and development results. The firm believes that companies with advanced domestic research and development progress in the weight loss metabolism field, excellent clinical weight loss data, and potential for overseas business development will have many catalysts in the future. ## Guotai Junan's main points are as follows: **Significant progress in the fundamentals of innovative drug research and development in the domestic weight loss field** Including: (1) Zhongsheng Pharmaceutical completed the enrollment of all subjects in the Phase III clinical trial for the obesity indication of RAY1225 dual-target injection on July 31. The first subject was enrolled in June, and the company completed all enrollment work ahead of schedule, demonstrating rapid and efficient progress. The biweekly formulation, administered once every two weeks, shows significant advantages, with Phase II study data indicating an average weight reduction of 15.05% over 24 weeks in the 9mg group. (2) UNITED LAB's UBT37034 received FDA approval for IND licensing. It can reduce weight by selectively acting on the neuropeptide Y2 receptor. Preclinical studies in various animal models show that UBT37034 combined with GLP-1 analogs can significantly reduce weight. For example, when used in conjunction with the marketed GLP-1/GIP dual-target drug Tirzepatide, it can further reduce animal weight, outperforming the concurrently researched Cagrilintide and Petrelintide. (3) LAEKNA received FDA approval for the clinical trial IND application of LAE103 on July 31, with the company fully laying out the ActRIIA+B pathway. (4) GeroCare is expected to obtain 12-week Phase IIa data for ASC30 subcutaneous formulation in Q1 2026. (5) Innovent Biologics' clinical trial application for its small molecule GLP-1 drug IBI3032 was accepted by the NMPA on July 16. (6) Heng Rui Medicine's Phase III trial showed an average weight loss of 19.2% in the 6mg dosage group over 48 weeks, without reaching a plateau, demonstrating good safety similar to other GLP-1 drugs. Heng Rui will submit a new drug application soon. **Since the beginning of this year, several domestic pharmaceutical companies have completed multiple licensing and cooperation transactions related to weight loss drugs.** On July 30, Shiyao Group authorized Madrigal Pharma the global (excluding China) development, production, and commercialization rights for its oral GLP-1 small molecule SYH2086, with a total licensing deal of $2.075 billion, including a $120 million upfront payment. Borui Pharmaceutical and China Resources Sanjiu reached a cooperation agreement for the research, registration, production, and commercialization of BGM0504 injection in mainland China (excluding Hong Kong, Macau, and Taiwan). **Risk Warning** Risks of innovative drug research and development failure, risks of innovative drug commercialization progress not meeting expectations, risks of innovative drug overseas licensing not meeting expectations, risks of domestic medical insurance policy cost control ### Related Stocks - [03933.HK](https://longbridge.com/en/quote/03933.HK.md) - [02105.HK](https://longbridge.com/en/quote/02105.HK.md) - [002317.CN](https://longbridge.com/en/quote/002317.CN.md) - [01801.HK](https://longbridge.com/en/quote/01801.HK.md) ## Related News & Research - [US working with small biotech firm on experimental Ebola treatment, Bloomberg News reports](https://longbridge.com/en/news/287108072.md) - [ZAWYA: Dubai Autodrome, a subsidiary of Union Properties, closes standout season with 88,700+ experiences and major events line-up](https://longbridge.com/en/news/287043713.md) - [Lipocine Showcases Phase 3 Data for Postpartum Depression](https://longbridge.com/en/news/286923466.md) - [09:35 ETOpen Medicine Launches Ahead of ASCO, Introducing "Living Algorithms" for Real-Time Oncology Decision-Making](https://longbridge.com/en/news/286923155.md) - [](https://longbridge.com/en/news/286948461.md)