医药行业周报：本周医药下跌2.4%，第十批国采将于12/12开标，安徽中成药集采不再包括感冒灵

Investment Rating - The report maintains a positive outlook on the pharmaceutical industry, rating it as "Overweight" [1]. Core Insights - The pharmaceutical sector experienced a decline of 2.4% this week, with the Shenwan Pharmaceutical and Biological Index ranking 22nd among 31 Shenwan first-level sub-industries [4][6]. - The overall valuation of the pharmaceutical sector stands at 27.7 times (PE-2024E), placing it 6th among 31 Shenwan first-level industries [6][10]. - The 10th batch of national drug procurement is entering the enterprise declaration phase, with bidding scheduled for December 12 [10]. - Six departments have called for improvements in grassroots drug linkage management to better meet public medication needs [11]. - The Anhui Traditional Chinese Medicine procurement has begun product information maintenance, excluding "Ganmaoling" from the list [12]. - BeiGene reached a settlement with MSN Pharmaceuticals regarding the generic drug lawsuit for "Zebutinib" [14]. - Betta Pharmaceuticals' clinical center passed the FDA on-site inspection for "Ensartinib" [15]. - Investment recommendations include focusing on companies benefiting from medical AI and those expected to gain from successful medical insurance negotiations [1]. Summary by Sections Market Performance - The Shenwan Pharmaceutical and Biological Index fell by 2.4%, while the Shanghai Composite Index decreased by 1.9% [4]. - Various sub-sectors showed declines, with raw materials down by 2.6% and vaccines down by 3.3% [6][10]. Key Events - The 10th batch of national drug procurement is set to open for bidding on December 12, with new rules affecting the selection process [10]. - The six departments' opinions aim to enhance grassroots drug management and expand the types of medications available [11]. - The exclusion of "Ganmaoling" from the Anhui procurement list was confirmed [12]. - A settlement was reached in the lawsuit concerning "Zebutinib," delaying the sale of generics until June 2037 [14]. - FDA approval for Betta Pharmaceuticals' clinical center was confirmed, marking a significant milestone for the company [15]. Investment Analysis - The report suggests focusing on companies involved in medical AI and those likely to benefit from recent medical insurance negotiations, such as DiZhe Pharmaceutical and Kangfang Biotech [1].