The GLP-1 investment theme in innovative pharmaceuticals has reached another landmark moment—PEGBIO CO-B (02565) announced that its self-developed weekly GLP-1RA, Vipadpeptide (PegdaCare®), has received approval from China’s National Medical Products Administration for treating type 2 diabetes (T2DM). This breakthrough marks not just a regulatory milestone but potentially a pivotal inflection point for PEGBIO CO-B’s investment value.
The market’s understanding of the GLP-1 sector is undergoing a profound transformation. Initial projections of a $50 billion market are being revised upward to $150 billion (over RMB 1 trillion), driven by three key factors: 1) The actual patient population far exceeds early estimates; 2) Chronic disease management ensures sustained treatment demand; 3) Expanding clinical benefits beyond glucose control and weight loss continue to be validated.
Globally, this sector demonstrates unprecedented growth momentum. Eli Lilly (LLY.US), PEGBIO CO-B’s benchmark, exemplifies this trend. With its focus on metabolic diseases like diabetes and obesity, Lilly’s market cap has soared 10-fold in five years, nearing $1 trillion—a testament to the field’s investment potential.
PegdaCare® distinguishes itself by addressing both glycemic control and weight management, positioning it for exponential valuation growth. Analysts project its market value could quintuple toward the RMB 100 billion threshold as clinical validation progresses.
**Clinical Excellence: Best-in-Class Potential** China’s 140 million diabetes patients (90% T2DM) represent a vast addressable market. While competitors like Innovent Biologics (01801) and United Laboratories (03933) advance in GLP-1 therapies, PegdaCare® overcomes critical limitations of existing treatments—notably gastrointestinal side effects and complex dosing—through proprietary PEGylation technology.
Phase I-III data published in *The Lancet* highlights: 1) **Sustained efficacy**: Only GLP-1RA achieving 52-week stable glucose reduction as monotherapy; 2) **Superior safety**: ≤7% GI adverse events (mostly mild/transient); 3) **Multi-benefit profile**: Improves β-cell function while managing blood pressure, lipids, and body fat.
The drug’s user-friendly autoinjector—featuring hidden needles, no dose titration, and minimal 0.3ml volume—further enhances compliance.
**Global Ambitions: From Product to Tech Exports** PegdaCare®’s robust data supports both domestic competitiveness and international expansion. PEGBIO CO-B plans commercialization in Southeast Asia, the Middle East, and Africa, transitioning from product exports to technology licensing—a model promising recurring revenue streams.
**Investment Thesis: Multiple Catalysts Ahead** 1) **Revenue leap**: PegdaCare® enters a RMB 10 billion+ market; 2) **Pipeline synergy**: GLP-1/GCG dual-target candidates under development; 3) **Global premium**: Tech-transfer model elevates valuation; 4) **Sector tailwinds**: GLP-1 remains biopharma’s golden赛道.
**Valuation Outlook** At its transition from R&D to commercialization, PEGBIO CO-B’s current valuation underrepresents PegdaCare®’s market potential. With sales scaling and global partnerships, the company is poised for a Davis双击—making it a compelling opportunity in high-growth biotech.
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