医药行业周报：新版医保目录发布，加大力度支持创新

Investment Rating - The report maintains a "Buy" rating for several companies, including Sainuo Medical, Enhua Pharmaceutical, and Shanghai Laishi, among others [5][24]. Core Insights - The new medical insurance directory has been released, adding 91 new drugs with an average price reduction of 63%. A total of 117 drugs participated in the negotiation, with a success rate of 76% [2][18]. - The pharmaceutical industry index rose by 2.95% this week, outperforming the CSI 300 index by 1.63 percentage points. However, the industry has declined by 9.29% year-to-date, underperforming the CSI 300 by 23.43 percentage points [1][41]. - The valuation level of the pharmaceutical industry (PE-TTM) is currently at 27.24 times, with a premium of 82% relative to the entire A-share market [1][17]. Summary by Sections 1. Investment Strategy and Key Stocks - The report highlights the performance of key stocks, with Sainuo Medical showing expected results and awaiting new product launches. Enhua Pharmaceutical is noted for steady growth and accelerated innovation [25][27]. - The recommended stock combinations include Sainuo Medical, Enhua Pharmaceutical, Shanghai Laishi, and others, with a focus on their growth potential and market performance [20][24]. 2. Pharmaceutical Industry Secondary Market Performance - The pharmaceutical index's performance is detailed, showing a weekly increase and a year-to-date decline, indicating a challenging market environment [41][41]. 3. Latest News and Policies - The report discusses the new medical insurance directory and its implications for innovation support, emphasizing the high success rate of new drug negotiations [2][18]. - It also covers the gradual easing of procurement rules for high-value medical consumables, indicating a potential for increased market access for domestic manufacturers [3][19]. 4. Recommended Combinations - The report lists various stock combinations, including a robust mix of companies across different segments, such as Sainuo Medical and Enhua Pharmaceutical, which are expected to perform well in the current market [5][20][24].