医药生物行业周报：国内新冠疫情数据上升，猴痘疫情再次升级为PHEIC

Investment Rating - The report assigns an investment rating of "Recommended" for the pharmaceutical and biotechnology industry [24] Core Insights - The report highlights that the market focus in the pharmaceutical sector is currently on the COVID-19 and monkeypox pandemics, with related stocks showing strong performance, although sustainability remains to be verified. The second quarter has seen significant adjustments in the pharmaceutical sector, and earnings expectations are largely priced in. The third quarter of 2023 may see improved year-on-year performance for some companies due to a low earnings base impacted by anti-corruption events. The recent announcement of a medical equipment update project in Anhui province is expected to benefit related equipment companies [2][5] Industry Perspective Update - The report discusses the results of Medicare negotiations in the U.S., where the average price reduction for the first batch of 10 drugs is 63%, effective from January 1, 2026. The drugs involved include major diabetes and anticoagulant medications, indicating a significant shift in pricing dynamics within the U.S. pharmaceutical market [3] Industry Performance Tracking - The pharmaceutical and biotechnology sector saw a slight increase of 0.05% in the week of August 12-16, ranking 13th among 31 industries. The chemical pharmaceuticals sub-sector led with a 1.31% increase, while medical devices and services experienced declines [6] Industry Dynamics and Key Company Tracking - The report notes ongoing anti-corruption efforts targeting the pharmaceutical industry, with multiple announcements from the Central Commission for Discipline Inspection emphasizing the need for stricter oversight. Additionally, a collective procurement initiative involving 19 major drugs across 14 provinces is underway, which may impact pricing and availability [7][9] Industry Data Tracking - The report provides data on the medical insurance fund, showing a total income of 1.388 trillion yuan in the first half of 2024, a 3.23% increase year-on-year. However, expenditures rose significantly by 16.76%, indicating a growing financial pressure on the healthcare system [11][15] Global Pharmaceutical Investment Data Tracking - The report mentions that global healthcare investment in July 2024 reached approximately 5.7 billion yuan, indicating a positive trend in the investment landscape for the healthcare sector [20]