医药生物行业周报：2025年稳外资行动方案出台，推动生物医药领域有序开放

Investment Rating - The industry investment rating is maintained as "Add" [6] Core Insights - The "2025 Action Plan for Stabilizing Foreign Investment" was released, promoting orderly opening in the biopharmaceutical sector, with specific measures to support the development of innovative drugs and medical devices [3][12] - Continuous favorable policies are being implemented to support innovative drugs, including the planned release of the first version of the Class B catalog by the National Medical Insurance Administration, which is expected to lower market entry barriers for innovative drugs [4][13] - The plan emphasizes facilitating the accelerated market entry of innovative drugs and optimizing bulk procurement of pharmaceuticals, indicating comprehensive support for the development of innovative drugs [5][14] Market Review - During the week of February 17 to February 21, 2025, the A-share Shenwan Pharmaceutical and Biological sector rose by 1.88%, outperforming the CSI 300 index by 0.87 percentage points, but underperformed the ChiNext index by 2.11 percentage points [2][15] - The Hang Seng Healthcare Index increased by 8.81%, outperforming the Hang Seng Index by 5.02 percentage points [2][16] Company Dynamics - Notable companies to watch include BeiGene, Innovent Biologics, CanSino Biologics, Kelun-Biotech, Zai Lab, and Hansoh Pharmaceutical, as they are expected to benefit from the favorable policies for innovative drugs [5][14] - Recent company announcements include approvals for new medical devices and clinical trials for innovative drugs, indicating ongoing activity and development within the sector [24]