医药生物行业周报：宽货币政策密集发布，行业迎来触底反弹

Investment Rating - The industry investment rating is maintained as "Overweight" [2][26]. Core Insights - The report highlights that the pharmaceutical industry is experiencing a rebound after a prolonged downturn, driven by recent monetary policy easing and fiscal stimulus measures [3][22]. - The report emphasizes the importance of innovation and valuation recovery as key themes in the current market environment, with a focus on companies with strong R&D capabilities and market positions [3][23]. Market Performance Review - During the period from September 23 to October 6, 2024, the Shanghai Composite Index closed at 3336.50, up 8.06%, while the Shenzhen 300 Index rose 8.48% to 4017.85. The pharmaceutical industry index increased by 11.15%, ranking 11th among 31 primary industry indices [7][22]. - The weekly performance of various sub-sectors within the pharmaceutical industry showed significant gains, with traditional Chinese medicine, pharmaceutical commerce, chemical preparations, biological products, medical services, raw materials, and medical devices increasing by 8.92%, 8.95%, 9.84%, 12.23%, 13.95%, 11.09%, and 12.40% respectively [8][22]. Industry News - AbbVie submitted a new drug application for its cMET ADC, Telisotuzumab Vedotin, to the FDA for treating adult patients with locally advanced or metastatic non-small cell lung cancer [18]. - Two new class 1 drugs were approved for market entry: Inusimab injection for primary hypercholesterolemia and Aplavirot for recurrent cervical cancer [19]. - A total of 18 innovative drug companies completed new financing rounds, with over 154 financing activities reported globally in the biopharmaceutical sector, totaling more than $4.7 billion [20]. Recommendations - The report suggests focusing on the following sectors for investment: 1. Innovative drugs and their supply chains, particularly those targeting key disease areas with robust R&D pipelines [23]. 2. Offline pharmacies and chain drugstores benefiting from increased market concentration [23]. 3. Medical services that cater to both consumer and hospital needs, with expectations for a recovery in outpatient visits [23]. - Long-term investment strategies should include companies with strong innovation capabilities and competitive advantages, particularly in the high-end medical device sector and healthcare consumption [23].