医药生物行业报告：医保药品目录调整专家评审结果公布，建议关注创新品种，消费医疗板块有望回暖

Industry Investment Rating - The report does not explicitly state an investment rating for the pharmaceutical and biotechnology industry [1]. Core Insights - The National Healthcare Security Administration announced the results of the expert review for the 2024 National Medical Insurance Drug List adjustment, indicating a focus on innovative products and a potential recovery in the consumer healthcare sector [3][4]. - The report highlights the importance of innovative drugs in the context of a slowing growth rate of healthcare funding, suggesting that high clinical value innovative products may receive more favorable insurance policy support [4][13]. - The retail pharmacy market showed signs of recovery, with a 0.7% year-on-year increase in market size in July, and expectations for continued improvement in the second half of the year [5][15][24]. Summary by Sections 1. National Medical Insurance Drug List Adjustment - The expert review for the 2024 drug list has concluded, with 445 drugs passing the formal review, including 249 new drugs and 196 existing ones [4][13]. - The report emphasizes the need for innovation and reliability in drugs to be included in the insurance list, with a supportive policy environment for innovative drug development anticipated [4][13]. 2. Consumer Healthcare Sector Recovery - Retail pharmacies are expected to see improved performance due to a recovery in customer traffic, with new and recently opened stores contributing to revenue growth [5][15]. - The medical services sector, particularly traditional Chinese medicine, is experiencing growth due to lower price points and increased demand for services like assisted reproduction [5][15][25]. 3. Weekly Performance and Subsector Insights - The pharmaceutical and biotechnology sector experienced a decline of 0.79%, underperforming the CSI 300 index by 2.11 percentage points, ranking last among 31 sub-industries [6][16]. - The offline pharmacy sector saw the highest increase of 4.56%, while the medical consumables sector faced the largest decline of 2.77% [6][16][24]. 4. Stock Selection Strategies - The report suggests focusing on companies with strong order-driven performance in the medical consumables sector, particularly those with high technological barriers and growth certainty [7][19]. - Recommendations include companies in the ADC, autoimmune, weight loss, NASH, and innovative traditional Chinese medicine sectors [4][7][19]. 5. Recommended and Beneficiary Stocks - Recommended stocks include Yifan Pharmacy, Saint Norbert Bio, and others, while beneficiary stocks encompass a broader range of companies such as Kexin Medical and Huazhong Medicine [8][14][15].