Zhaoke Ophthalmology's Breakthrough Boosts Market Value to 120 Billion RMB

Recently, Zhaoke Ophthalmology Company made a significant announcement regarding its eye drug candidate, NVK002, which has shown promising results in its Phase III clinical trial (China CHAMP). NVK002 is an innovative topical eye solution aimed at controlling advanced myopia in children and adolescents by using low doses of 0.01% and 0.02% atropine. This achievement has garnered much attention in the ophthalmology field, particularly following the development of atropine sulfate eye drops by Xingqi Eye Medicine. NVK002 is now considered one of the most anticipated new drugs in research for the prevention and control of atropine myopia.

In October 2020, Zhaoke Ophthalmology acquired the rights to develop and commercialize NVK002 in China, South Korea, and Southeast Asia from Nevakar. Since then, the company has been dedicated to advancing the research and development of this drug. The executives at Zhaoke Ophthalmology recognize the immense potential of NVK002 and believe it could become a "blockbuster" product once it enters the market.

Atropine, used in drug therapy, operates through multiple mechanisms, including influencing receptors in the retina and posterior sclera, and acting via cholinergic, G-protein, and other signaling pathways. Atropine eye drops are notable for their effective control of myopia progression with relatively mild adverse reactions, making them the only evidence-based medicine proven to delay myopia progression effectively. The significant clinical value of atropine eye drops is expected to revolutionize the ophthalmology market, which has traditionally been dominated by device consumables.

Currently, low-concentration atropine products (primarily 0.01%) are available in countries with high myopia rates, such as Singapore and Japan. Market research indicates that the average annual cost of using these products in such countries is around 3000-4000 CNY. By comparison, the domestic annual cost in China is estimated at about 1500 CNY, which is substantially less than 1/5 of the cost of surgery and orthokeratology. Based on these figures, the theoretical market potential for atropine preparations could reach as high as 120 billion CNY. This enormous market potential presents substantial business opportunities for Zhaoke Ophthalmology Company.