20cm速递 | 关注科创创新药ETF国泰（589720）低位布局机会，智慧医保与外贸韧性或重塑行业格局

Core Viewpoint - The launch of the National Smart Medical Insurance Competition in 2025 is expected to enhance the efficiency of innovative drug research and development in the pharmaceutical and biotechnology industry, with open medical insurance data aiding companies in accurately targeting clinical needs, shortening R&D cycles, and reducing costs [1] Group 1: Industry Insights - The innovative drug sector is projected to have high growth potential and investment value in the long term, with deeper application of medical insurance data likely to improve both the quantity and quality of innovative drugs [1] - Once approved, innovative drugs can leverage clinical advantages to capture significant market share and pricing power [1] - The reactivation of the fifth set of standards for the Sci-Tech Innovation Board and the dual financing channel of Hong Kong's 18A is expected to stimulate full-cycle financing for pharmaceutical companies [1] Group 2: Regulatory Changes - New regulations on traditional Chinese medicine decoction pieces and adjustments to the Guangdong medical alliance drug policies are anticipated to impact the industry landscape [1] Group 3: Investment Opportunities - The Guotai Innovative Drug ETF (589720) tracks the Sci-Tech Innovative Drug Index (950161), which can experience daily fluctuations of up to 20% [1] - This index selects technology-driven innovative drug R&D companies from the biopharmaceutical and chemical pharmaceutical sectors, focusing on R&D investment, technological barriers, and growth potential to reflect the overall performance of related enterprises in China's pharmaceutical innovation field [1]