医药行业周报：本周医药下跌3.9%，医保局要求做好医保基金预付工作，上海市政府发布医学人工智能发展计划

Investment Rating - The report maintains a positive outlook on the pharmaceutical industry, rating it as "Overweight" [1][4]. Core Insights - The pharmaceutical sector experienced a decline of 3.9% this week, with the Shenwan Pharmaceutical Bio Index ranking 18th among 31 Shenwan first-level sub-industries [1][4]. - The overall valuation of the pharmaceutical sector stands at 28.3 times PE (2024E), placing it 7th among 31 Shenwan first-level industries [1][6][10]. - Key events include the National Healthcare Security Administration's directive on improving medical insurance fund prepayment, aimed at enhancing fund utilization efficiency [1][12]. - The Shanghai government has initiated a development plan for medical artificial intelligence, emphasizing the integration of AI in healthcare [1][13]. - Significant corporate actions include New China Life Insurance increasing its stake in China National Pharmaceutical Group and Shanghai Pharmaceuticals, reflecting confidence in the Chinese economy [1][16]. Summary by Sections Market Performance - The Shenwan Pharmaceutical Bio Index fell by 3.9%, while the Shanghai Composite Index decreased by 3.5% during the same period [1][4]. - Various sub-sectors showed mixed performance, with raw materials and chemical preparations declining by 4.0% and 4.1%, respectively [1][6]. Key Events - The National Healthcare Security Administration issued a notice on improving medical insurance fund prepayment, which is part of a broader policy to enhance fund management and efficiency [1][12]. - The release of the "Guidelines for AI Application Scenarios in the Health Sector" aims to promote innovation in AI applications within healthcare [1][12]. - The Shanghai government approved a plan for the development of medical AI from 2025 to 2027, focusing on the integration of AI and healthcare [1][13]. Corporate Developments - ST Jiuzhitang announced a share transfer agreement that will result in a state-owned enterprise becoming the actual controller [1][14]. - New China Life Insurance has increased its holdings in China National Pharmaceutical Group and Shanghai Pharmaceuticals, indicating a strategic move to support long-term investments in the market [1][16]. - BioNTech's acquisition of a Chinese biotech company for $950 million highlights ongoing consolidation in the biotech sector [1][17].