医药生物行业跟踪周报抗抑郁新药进入收获期，关注吉贝尔、翰森制药、绿叶制药等

Investment Rating - The report maintains an "Accumulate" rating for the industry [7] Core Insights - The depression market is a multi-billion dollar blue ocean, urgently needing new drugs to reshape the market landscape. In 2023, approximately 280 million people globally suffer from depression, accounting for about 3.8% of the global population, with the number of patients in China reaching 95 million in 2019, indicating a lifetime prevalence of 6.8% [7][19] - Current antidepressants primarily regulate neurotransmitter levels such as serotonin (5-HT), norepinephrine (NE), and dopamine (DA) to alleviate symptoms. However, existing medications like SSRIs and SNRIs have issues such as slow onset of action and poor patient compliance, highlighting the need for new antidepressants to meet unmet treatment demands. Companies like Jibeier, Green Leaf Pharmaceutical, and Hansoh Pharmaceutical are recommended for attention [7][19] Summary by Sections 1. Antidepressant New Drugs Entering Harvest Period - The report emphasizes the potential of new antidepressants and suggests focusing on companies like Jibeier, Hansoh Pharmaceutical, and Green Leaf Pharmaceutical [7][23] 2. Depression Market Overview - The report outlines the complex etiology of depression and the significant market potential, noting the stable drug landscape primarily focused on neurotransmitter regulation [19][23] 3. R&D Progress and Company Dynamics - The report highlights recent approvals and clinical developments, including the approval of a new generation ROS1/NTRK inhibitor by Innovent Biologics and Baoyuan Pharmaceutical, and the weight loss data from Novo Nordisk's CagriSema trial [8][19] 4. Industry Insights and Regulatory Dynamics - The report provides insights into the pharmaceutical sector's performance, noting a decline in the pharmaceutical index by 2.13% this week and 10.62% year-to-date, with specific sub-sectors like traditional Chinese medicine and biological products showing relatively smaller declines [11][18] 5. Market Review - The report tracks the performance of the pharmaceutical index, which has a current P/E ratio of 32.07, lower than the historical average by 6.55 [23]