机构：坚定看好我国创新药产业链长期发展空间

Group 1 - The Guangzhou Municipal Government has issued a plan to accelerate the construction of a strong advanced manufacturing city, focusing on the strategic layout of innovative drugs, particularly in monoclonal antibodies, vaccines, blood products, and diagnostic reagents [1] - The plan aims to achieve breakthroughs in gene engineering technology, new drug targets and mechanisms, synthetic biology, and bioinformatics integration, while promoting the standardization and internationalization of traditional Chinese medicine [1] - Donghai Securities predicts that by 2026, China's pharmaceutical and biotechnology industry will officially enter an era dominated by innovative drugs, with a long-term opening of payment space through the complementary combination of medical insurance and commercial insurance [1] Group 2 - Industrial sentiment in the innovative drug sector has recently declined, but with ongoing business development (BD) transactions, the sector's prosperity is expected to be sustainable, and the trend of "innovation + internationalization" remains unchanged [2] - According to Bohai Securities, the National Medical Products Administration reported that by 2025, 76 innovative drugs will be approved for listing in China, surpassing the 48 approved in 2024, marking a historical high [2] - China's pipeline of new drugs under research accounts for approximately 30% of the global total, ranking second worldwide, indicating a continued positive trend in the innovative drug industry [2]