RemeGen Two new approvals further consolidate telitacicept franchise

研报英文原文证据摘录

RemeGen Two new approvals further consolidate telitacicept franchise

Asia Pacific Equity Research

10 June 2026

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RemeGen

Two new approvals further consolidate telitacicept

franchise

On June 8, 2026, RemeGen announced two new NMPA approvals for China

telitacicept (RC18): a full approval for Sjogren’s Disease (SjD) and a Healthcare

ACconditional (priority review) approval for IgA Nephropathy (IgAN), Yang Huang

bringing the drug’s total approved indications in China to five, alongside (852) 2800 3812

SLE (Systemic Lupus Erythematosus), RA (Rheumatoid Arthritis), and yang.huang@jpmorgan.com

gMG (Generalized Myasthenia Gravis), meaningfully expanding J.P. Morgan Securities (Asia Pacific) Limited/ J.P. Morgan Broking (Hong Kong) Limited

telitacicept’s addressable market beyond the existing autoimmune

Eric Zhao, CFA

franchise. With the approval of SjD, to our knowledge, telitacicept (86-21) 6106 6256

becomes the first targeted drug in the world for this condition. Meanwhile, eric.zhao@jpmorgan.com

it has also become the world’s first approved BLyS/APRIL dual-target SAC Registration Number: S1730524050001

biologic for IgAN, as well as China’s first domestically developed J.P. Morgan Securities (China) Company

Limited

innovative targeted therapy for the disease. Therefore, we revise our sales

Derek Choiforecasts upward for the RC18, assigning 100% PoS to both new

(852) 2800-8744

indications. We maintain OW ratings on both the A/H shares.