Core Viewpoint - The pharmaceutical industry has recently experienced a significant pullback, particularly in the innovative drug sector, but there is a mild recovery in risk appetite due to government policies recognizing biomedicine as an emerging pillar industry [1] Industry Summary - The recent government work report has elevated the status of the pharmaceutical industry from a strategic emerging industry to an emerging pillar industry, indicating that policy benefits across the entire chain will continue to be released [1] - The combination of breakthroughs in AI drug development technology and the expansion of Chinese innovative drugs into overseas business development is expected to create a dual resonance, leading to an accelerated improvement in the industry's fundamentals [1] Company Recommendations - The company recommends buying shares in the following firms: - Innovent Biologics with a target price of HKD 110.62 - 3SBio with a target price of HKD 37.43 - JACOBY with a target price of HKD 10.34 - Genscript Biotech with a target price of HKD 44.95 - WuXi AppTec with a target price of HKD 88 [1]
大行评级丨招银国际：预计医药行业基本面加速向好，看好信达生物、三生制药等