医药生物行业周报：持续关注创新药械投资机会

Investment Rating - The report assigns an "Overweight" rating to the pharmaceutical and biotechnology sector, indicating a positive outlook for the industry in the near term [6][36]. Core Insights - The pharmaceutical and biotechnology sector experienced a decline of 6.00% from October 8 to October 11, 2024, underperforming the CSI 300 index by 2.75 percentage points. Year-to-date, the sector has decreased by 12.76%, ranking 27th among 31 industries [7][12]. - The current PE valuation for the sector stands at 26.5 times, which is at a historical low, with a premium of 115% compared to the CSI 300 index [17]. - The Guangdong provincial government has launched a comprehensive action plan to promote high-quality development in the biopharmaceutical industry, aiming for a cluster scale exceeding 1 trillion yuan by 2027 [8][31]. Market Performance - The total market capitalization of the pharmaceutical and biotechnology sector reached 6.12 trillion yuan, accounting for 6.55% of the total A-share market capitalization as of October 11, 2024 [23]. - The sector's trading volume for the week was 705.3 billion yuan, representing 6.92% of the total A-share trading volume [23][27]. - The main funds in the pharmaceutical sector saw a net outflow of 35.799 billion yuan last week, ranking 27th among the primary industries [27]. Industry News - The Guangdong action plan includes 38 key tasks aimed at supporting innovative drugs and medical devices, enhancing infrastructure, and expediting clinical research processes [8][31]. - Recent Nobel Prizes awarded for discoveries in miRNA and AI protein structure prediction highlight the ongoing advancements in the life sciences [32]. Investment Recommendations - The report suggests focusing on innovative drug chains, medical devices, healthcare services, chain pharmacies, second-class vaccines, and specialty raw materials for investment opportunities [9][34]. - Recommended stocks include Teva Biopharmaceuticals, Betta Pharmaceuticals, Kaili Medical, International Medicine, Qianhong Pharmaceutical, and Kangtai Biological [9][34]. - Stocks to watch include Kelun Pharmaceutical, Lao Baixing, Huaxia Eye Hospital, Haier Biomedical, Nuotai Biological, and Boya Biological [9][34].