According to the Zhitong Finance APP, Caitong Securities released a research report stating that China, with 17.4% of the global population, accounts for over 30% of the world's gout patients, with a high number of cases. In terms of uric acid-lowering treatment, there is still unmet demand in the clinical research of URAT1 inhibitors, and competition remains intense. Research on acute phase relief treatment focuses on IL-1β inhibitors, with canakinumab having been approved for market release, which can reduce the risk of recurrence by 90%. Several new innovative drugs have emerged in the field of gout, and it is recommended to pay attention to ApicHope (300723.SZ), LIVZON GROUP (000513.SZ), Hinova (688302.SH), Yifang Biotechnology (688382.SH), and New Element Pharmaceuticals for uric acid-lowering treatment; for acute phase relief, it is recommended to focus on Changchun Gaoxin (000661.SZ) and Sanofi (688336.SH).

The main points of Caitong Securities are as follows:

Gout is caused by persistent hyperuricemia, with a high number of patients

Data from the chronic disease and risk factor monitoring in China from 2018-2019 shows that the prevalence of hyperuricemia among adult residents in China reached 14%. Some hyperuricemia patients may progress to gout. According to the latest research from The Lancet, by 2025, the number of gout patients in China will approach 18 million, with China accounting for over 30% of the world's gout patients with only 17.4% of the global population.

Gout treatment is divided into acute phase relief treatment and stable phase uric acid-lowering treatment

The principle of acute phase treatment is to quickly control joint inflammation and pain. Currently, first-line treatment drugs include colchicine and non-steroidal anti-inflammatory drugs. Commonly used drugs for uric acid-lowering treatment include those that inhibit uric acid synthesis (allopurinol, febuxostat, etc.), drugs that promote renal uric acid excretion (benzbromarone, probenecid, etc.), and drugs that promote uric acid decomposition (pegloticase, rasburicase, etc.).

Research on uric acid-lowering treatment is mainly focused on URAT1 inhibitors, with lesinurad about to be launched, and AR882 showing good efficacy

Lesinurad reduces the hepatotoxicity of benzbromarone through structural modification, and its excellent efficacy and the best safety profile among current URAT1 inhibitors will provide strong support for its promotion in the global market. With the backing of multiple real-world population data in the future, lesinurad is likely to become a first-line medication recommended in domestic and international guidelines. Among the research products, based on existing data, ApicHope and Arthrosi's co-developed AR882 have the best efficacy, but ABP-167, URC102, and others have not yet disclosed more clinical efficacy data. Currently, there is still unmet demand in the clinical research of URAT1 inhibitors, and competition remains intense.

Research on acute phase relief treatment focuses on IL-1β inhibitors, with canakinumab having been approved for market release, which can reduce the risk of recurrence by 90%

IL-1 is a core cytokine in the inflammatory process of gout attacks. Inhibiting its binding to receptors can alleviate gout attacks and reduce the subsequent formation of tophi. On July 2, 2025, Changchun Gaoxin's self-developed canakinumab was approved for market release, becoming the first IL-1β inhibitor approved for sale in China. Its analgesic effect is not inferior to that of compound betamethasone and reduces the risk of first recurrence by over 90% compared to the compound betamethasone group Risk Warning: Research and development failures or progress not meeting expectations; sales not meeting expectations; policy risks in the pharmaceutical industry, etc