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寃곕줎: 諛붿씠???쒖“쨌湲곗닠?댁쟾 ??웾? ?덉쑝?? EPO 吏묒쨷怨??뱀씤 由ъ뒪?ш? ?щ떎
?ъ젨? EPO 怨꾩뿴 諛붿씠?ㅼ쓽?쏀뭹???쒖“쨌?먮ℓ?섍퀬, ?명룷二셋룸같?뫢룹젙??湲곗닠??湲곕컲?쇰줈 CDO쨌CMO? ?⑤갚吏?移섎즺??湲곗닠?댁쟾??異붿쭊?쒕떎. 諛붿씠?ㅼ쓽?쏀뭹? ?먮즺? 怨듭젙???쇨??? ?덉쭏愿由? GMP, 援??蹂??덇?媛 ?꾩슂?섎?濡??쇰컲 ?섏빟???좏넻蹂대떎 吏꾩엯?λ꼍???믩떎. 2026??1遺꾧린?먮뒗 EPO ?섏빟??留ㅼ텧???遺遺꾩쓣 李⑥??덇퀬 ?섏텧????35.16?듭썝, 援?궡媛 ??2.15?듭썝?댁뿀??
1. ?꾩옱 ?댁씡? EPO ?쒗뭹 ?먮ℓ媛 ?ㅻ챸?쒕떎
| 2026??1遺꾧린 留ㅼ텧 | 湲덉븸 | 鍮꾩쨷 諛??섎? |
|---|---|---|
| EPO ?섏빟???섏텧 | 34.74?듭썝 | ?댁쇅 ?쒗뭹 ?먮ℓ???듭떖 |
| EPO ?섏빟??援?궡 | 1.16?듭썝 | 援?궡 ?먮ℓ |
| 湲고? | 1.41?듭썝 | ?쒗뿕쨌湲고? 留ㅼ텧 |
| CDO쨌CMO쨌濡쒖뿴?? | 怨듭떆???좎쓽誘명븳 留ㅼ텧 ?놁쓬 | ?뚯씠?꾨씪???깃꺽 |
| ?⑷퀎 | 37.32?듭썝 | ?섏텧 35.16?듭썝, 援?궡 2.15?듭썝 |
?뚯궗 怨듭떆?먮뒗 2026??3??留?湲곗? EPO ?섏텧 二쇰Ц 珥앹븸 ??78.36?듭썝 以?34.74?듭썝???댄뻾?먭퀬 ??43.62?듭썝???⑥븘 ?덈뒗 寃껋쑝濡?湲곗옱?섏뼱 ?덈떎. 援?궡 EPO 二쇰Ц??珥?5.55?듭썝 以???1.16?듭썝???댄뻾?섍퀬 ??4.38?듭썝???⑥븘 ?덈떎. ?대뒗 ?④린 留ㅼ텧 媛?쒖꽦???믪씠???먮즺吏留? 二쇰Ц?붽퀬???⑺뭹쨌寃?샕룻뿀媛쨌?섏쑉 議곌굔???곕씪 ?ㅼ젣 留ㅼ텧怨??꾧툑?먮쫫?쇰줈 ?꾪솚?섎뒗 ?쒖젏???щ씪吏????덈떎.
2. 怨듭젙쨌?덉쭏怨??덇?媛 ?듭떖 ?댁옄??
EPO? ?⑤갚吏?移섎즺?쒕뒗 ?명룷二?媛쒕컻, 諛곗뼇, ?뺤젣, 遺꾩꽍, ?덉젙??愿由ш? ?④퍡 ?꾩슂?섎떎. ?ъ젨???먯껜 湲곗닠怨??쒖“ 湲곕컲??媛뽰텛怨?CDO쨌CMO瑜??뺤옣?섎젮??寃껋? 怨좉컼???꾩긽쨌?덇? ?④퀎?먯꽌 ?몃? ?쒖“ ?뚰듃?덈? ?쎄쾶 援먯껜?섍린 ?대졄?ㅻ뒗 ?먯쓣 ?쒖슜?섎뒗 ?꾨왂?대떎. 湲곗닠?댁쟾 怨꾩빟??以묎뎅 Beijing Tide, Beijing Northland, ?고궎 VEM ?깃낵 泥닿껐?섏뼱 ?덈떎.
?ㅻ쭔 怨꾩빟 泥닿껐怨??곸뾽 留ㅼ텧? 援щ텇?댁빞 ?쒕떎. 以묎뎅 ?⑤갚吏?移섎즺??怨꾩빟? ?꾩긽 1???먮뒗 IND ?④퀎?닿퀬, Factor VII 怨꾩빟? ?꾩엫???④퀎?? ?고궎 EPO 怨꾩빟? ?덈ぉ ?덇?瑜?諛쏆븯?ㅺ퀬 湲곗옱?섏?留? 濡쒖뿴?곗? ?κ린 留ㅼ텧? ?ㅼ젣 ?먮ℓ 洹쒕え???곕씪 ?щ씪吏꾨떎. 湲곗닠猷뙿룸쭏?쇱뒪?ㅒ룸줈?댄떚媛 諛섎났?곸씤 ?댁씡?쇰줈 ?먮━ ?↔린 ?꾧퉴吏???뚯씠?꾨씪??媛移섎? ?ш쾶 ?좊컲?곹븯湲??대졄??
3. 留ㅼ텧? ?섏뿀吏留?遺꾧린 ?섏씡?깆? ??븘議뚮떎
2025??留ㅼ텧? 134.17?듭썝, ?곸뾽?댁씡? 15.06?듭썝?댁뿀?? 2025??1遺꾧린? 2026??1遺꾧린瑜?諛섏쁺??TTM 留ㅼ텧? ??137.07?듭썝, ?곸뾽?댁씡? ??12.88?듭썝, ?곸뾽?댁씡瑜좎? ??9.39%??
| 援щ텇 | 2025??1遺꾧린 | 2026??1遺꾧린 | 蹂?? |
|---|---|---|---|
| 留ㅼ텧 | 34.41?듭썝 | 37.32?듭썝 | +8.4% |
| ?곸뾽?댁씡 | 7.01?듭썝 | 4.82?듭썝 | -31.2% |
| ?곸뾽?댁씡瑜? | 20.36% | 12.92% | -7.44%p |
?섏텧 二쇰Ц怨??붽퀬??湲띿젙?곸씠吏留? 留ㅼ텧 利앷?蹂대떎 ?댁씡 媛먯냼??씠 而몃떎. ?쒗뭹 誘뱀뒪, ?쒖“?먭?, ?먭?鍮? 湲곗닠?댁쟾쨌媛쒕컻鍮꾧? ?곹뼢??以ъ쓣 ???덈떎. CDO쨌CMO媛 ?ㅼ젣 留ㅼ텧濡??뺣??섎㈃ ?앹궛?쒖꽕 ?쒖슜?꾩? ?섏씡?먯씠 ?ㅻ??붾맆 ???덉?留? ?꾩옱 遺꾧린?먮뒗 EPO ?먮ℓ ???ъ뾽??寃쎌젣??湲곗뿬媛 ?쒗븳?곸씠??
?먯닔 洹쇨굅
| ??ぉ | ?먯닔 | ?먮떒 |
|---|---|---|
| 吏꾩엯?λ꼍 | 66 | 諛붿씠???쒖“怨듭젙쨌GMP쨌?덇?쨌?덉쭏愿由??꾩슂 |
| ?꾪솚鍮꾩슜 | 51 | 怨좉컼???쒖“怨듭젙 寃利앷낵 蹂寃쏀뿀媛 遺?댁씠 議댁옱 |
| 釉뚮옖??IP | 59 | ?먯껜 ?명룷二셋룸떒諛깆쭏 ?앹궛湲곗닠怨?湲곗닠?댁쟾 怨꾩빟 |
| ?ㅽ듃?뚰겕?④낵 | 4 | 怨좉컼怨??뚰듃?덇? ?섏뼱??吏곸젒?곸씤 ?ㅽ듃?뚰겕 媛移섎뒗 ?쒗븳?? |
| 媛寃⑷껐?뺣젰 | 38 | ?섏빟??寃쎌웳怨?蹂댄뿕쨌援щℓ???묒긽?μ쑝濡?媛寃?諛⑹뼱媛 ?쏀븿 |
| 留덉쭊異붿꽭 | 39 | TTM ?묒옄?대굹 理쒓렐 遺꾧린 留덉쭊怨??곸뾽?댁씡???섎씫 |
理쒖쥌 50?먯? ?쒖“쨌湲곗닠?댁쟾???좎옱?μ쓣 ?몄젙?섎㈃?쒕룄, ?꾩옱 ?ㅼ쟻???쒗뭹 吏묒쨷怨??꾩긽쨌?덇? 遺덊솗?ㅼ꽦???ш쾶 諛섏쁺???먯닔??
비판적으로 봐야 할 것
?듭떖 由ъ뒪?? 湲곗닠?댁쟾 怨꾩빟怨?二쇰Ц?붽퀬媛 ?곸뾽??諛섎났 ?댁씡??蹂댁옣?섏? ?딅뒗??
- 1.EPO 留ㅼ텧 吏묒쨷: 2026??1遺꾧린 留ㅼ텧 ?遺遺꾩씠 EPO ?섏빟?덉씠?? ?뱀젙 ?쒗뭹??寃쎌웳, ?덇?, 怨좉컼 ?섏슂???ㅼ쟻??醫뚯슦?????덈떎.
- 2.*?덇?쨌?꾩긽 吏??: 以묎뎅 ?뚰듃?덈뱾???쒗뭹? ?꾩긽 ?먮뒗 IND ?④퀎?대ʼn, ?꾩엫??怨꾩빟???덈떎. 媛쒕컻쨌?덇? ?쇱젙??吏?곕릺硫?留덉씪?ㅽ넠怨?濡쒖뿴?곌? ??뼱吏꾨떎.
- 3.二쇰Ц?붽퀬 ?꾪솚: 怨듭떆???붽퀬??湲띿젙?곸씠吏留??⑺뭹쨌寃?샕룹닔異?議곌굔怨?怨좉컼???ш퀬 議곗젙???곕씪 ?ㅼ젣 ?몄떇 ?쒖젏???щ씪吏꾨떎.
- 4.留덉쭊 ?뺣컯: 留ㅼ텧? ?섏뿀吏留?2026??1遺꾧린 ?곸뾽?댁씡瑜좎? ?꾨뀈 ?숆린蹂대떎 7.4%p ??븘議뚮떎. ?쒖“?먭?? 媛쒕컻쨌?덇? 鍮꾩슜??而ㅼ?硫??댁씡 ?덈쾭由ъ?媛 ?쏀빐吏꾨떎.
- 5.*CDO쨌CMO ?뺤옣??: ?몃? 怨좉컼???앹궛쨌?쒗뿕 ?섏＜媛 ?좎쓽誘명븳 洹쒕え濡?諛섎났?섏? ?딆쑝硫??쒖꽕怨??몃젰??怨좎젙鍮?遺?댁씠 ?⑤뒗??
?ㅼ쓬 ?됯??먯꽌??EPO 怨좉컼蹂?留ㅼ텧怨??붽퀬 ?댄뻾瑜? ?쒗뭹蹂??먭?쨌留덉쭊, CDO쨌CMO ?섏＜? 媛?숇쪧, 湲곗닠?댁쟾 怨꾩빟???④퀎蹂?留덉씪?ㅽ넠쨌濡쒖뿴???섏랬瑜??뺤씤?댁빞 ?쒕떎.
총평
珥앺룊: 50????諛붿씠???쒖“ ?뚮옯?쇱쓽 媛?μ꽦? ?덉쑝?? ?꾩옱?????쒗뭹怨?媛쒕컻 ?쇱젙??誘쇨컧?섎떎
?ъ젨? EPO ?섏빟?덇낵 諛붿씠???쒖“怨듭젙??湲곕컲?쇰줈 ?쒕떎. ?명룷二셋룸같?뫢룹젙?쑣룻뭹吏덇?由???웾怨?GMP ?쒖“ 寃쏀뿕, 以묎뎅쨌?고궎 ?뚰듃?덉???湲곗닠?댁쟾 怨꾩빟? ?쇰컲 ?쒖빟 ?좏넻?щ낫???믪? 吏꾩엯?λ꼍??留뚮뱺?? 2026??3??留?EPO ?섏텧쨌援?궡 二쇰Ц?붽퀬???④린 留ㅼ텧 媛?쒖꽦???꾩???以??
洹몃윭???꾩옱 留ㅼ텧? EPO ?쒗뭹??吏묒쨷?섍퀬 CDO쨌CMO쨌濡쒖뿴???ъ뾽? ?꾩쭅 ?ㅼ쟻??以묒떖???꾨땲?? 湲곗닠?댁쟾 怨꾩빟? ?꾩긽쨌?덇? ?④퀎???곕씪 媛移섍? ?ш쾶 ?щ씪吏怨? 理쒓렐 遺꾧린?먮뒗 留ㅼ텧 利앷??먮룄 ?곸뾽?댁씡怨?留덉쭊????븘議뚮떎. ?댁씡???쒗뭹 ?먮ℓ? 湲곗닠猷뚮줈 ?ㅻ??붾릺湲??꾧퉴吏???믪? ?뚮옯???꾨━誘몄뾼??遺?ы븯湲??대졄??
?먯닔媛 ?щ씪媛?議곌굔
- EPO 二쇰Ц?붽퀬媛 ?덉젙?곸쑝濡??⑺뭹?섍퀬 ?좉퇋 怨좉컼?쇰줈 諛섎났 ?뺣???寃?- CDO쨌CMO媛 ?뺢린?곸씤 ?섏＜? 媛?숇쪧 媛쒖꽑?쇰줈 ?곌껐??寃?- 湲곗닠?댁쟾 ?뚯씠?꾨씪?몄뿉???덇?쨌?먮ℓ쨌濡쒖뿴???섏랬媛 諛쒖깮??寃?- 理쒓렐 ?섎씫???곸뾽?댁씡瑜좎씠 ?뚮났?섍퀬 ?쒗뭹蹂??섏씡?깆씠 ?뺤씤??寃?
?먯닔媛 ?대젮媛?議곌굔
- EPO 二쇰Ц??吏?걔룹랬?뚮릺嫄곕굹 寃쎌웳 ?쒗뭹?쇰줈 ?④?媛 ?섎씫??寃?- ?꾩긽쨌IND쨌?덇? ?쇱젙??吏?곕릺??湲곗닠猷뚯? 濡쒖뿴?곌? ??뼱吏?寃?- ?쒖“?먭?? ?곌뎄媛쒕컻鍮?利앷?濡??묒옄 洹쒕え媛 異뺤냼??寃?- CDO쨌CMO媛 ?κ린媛?留ㅼ텧濡??꾪솚?섏? ?딆쓣 寃?
?꾩옱 ?됯???湲곗닠??吏꾩엯?λ꼍怨??붽퀬瑜??몄젙?섎릺, ?곸뾽???④퀎??遺덊솗?ㅼ꽦??諛섏쁺??50?먯쑝濡??먮떒?쒕떎.