医药行业周报：政策持续支持创新药发展，看好创新药、创新药产业链、AI医疗三大方向

Investment Rating - The report maintains a "Recommended" rating for the pharmaceutical and biotechnology industry [1] Core Views - Continuous policy support for innovative drugs is expected to provide better development opportunities for differentiated innovative drugs in China, with faster review and approval processes, support for medical insurance pricing, and diverse payment systems [4][17] - The AI medical field is identified as a significant investment direction for 2025, with successful business models emerging in AI gene testing [4][19] - The pharmaceutical sector is currently at a historical low, presenting investment opportunities, particularly in innovative drugs and their supply chains, as well as in the medical device sector [4][24] Weekly Pharmaceutical Sector Performance - The pharmaceutical and biotechnology sector outperformed the CSI 300 index, with a weekly increase of 1.93% compared to the 1.00% increase of the CSI 300 index [6][10] - The sector has experienced a decline of 9.41% since the beginning of 2024, underperforming the CSI 300 index by 25.37 percentage points [6][8] Investment Strategy - The report emphasizes the importance of focusing on sectors with good growth potential and industrial logic, particularly innovative drugs and the medical device sector, which are expected to improve in 2025 [23][24] - The report suggests prioritizing investments in companies with high-quality data access and a broad user base in the AI medical field, including companies in imaging, genetic testing, pathology, robotics, and health management [21][22] Recommended Stocks - Hengrui Medicine: Expected to see rapid growth in innovative drug revenue with several key products approved [33] - Innovent Biologics: Anticipated to enter a rapid growth phase with significant product launches [31] - BeiGene: Expected to maintain leadership in hematological malignancies with strong sales growth [31] - Aibot Medical: Anticipated to benefit from the aging population and product launches [34] - Enhua Pharmaceutical: Positioned well in the stable growth of the anesthetic market [38]