中泰证券：创新药行情有望持续 积极布局2026年基本面有望改善的医药板块

Group 1 - The core viewpoint of the article emphasizes that innovative drugs remain the most important theme in the pharmaceutical sector, with recent fluctuations leading to a return to relatively reasonable and low stock price levels, market expectations, and capital allocation, highlighting the investment safety margin and return value [1] - The report suggests that within the pharmaceutical sector, there has been a certain degree of high-low switching or thematic rotation due to the recent surge and subsequent adjustment in innovative drugs [1] - It is recommended to actively position in sectors and stocks that are expected to see fundamental improvements in 2026, driven by price clearing, demand recovery, and turning points in the business cycle [1]