医药生物行业周报：CXO复苏进程开启，AI赋能新药研发潜力可期

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical and biotechnology industry [3]. Core Insights - The report highlights the recovery process of the CXO sector, driven by a rebound in global healthcare investment and the potential of AI in drug development [6][9]. - The FDA has granted priority review status to Chimerix's potential "first-in-class" small molecule drug, dordaviprone, for treating recurrent H3 K27M mutant diffuse glioma, with a projected review completion by August 18, 2025 [2][42]. Market Performance Review - During the period from February 15 to February 22, 2025, the Shanghai Composite Index rose by 0.97%, while the pharmaceutical industry index increased by 0.96%, ranking 8th among 31 primary industry indices [1][16]. - The weekly performance of various segments within the pharmaceutical industry showed mixed results, with traditional Chinese medicine and pharmaceutical commerce declining by 2.30% and 1.50%, respectively, while medical services saw a significant increase of 6.87% [1][16]. CXO Sector Recovery - Global healthcare investment is showing signs of recovery, with a total investment of $57.747 billion in 2024, a decline of only 1% compared to the previous year, indicating a significant improvement from a 34% drop in 2023 [7]. - The report notes that the failure of the 2024 Biodefense Act to pass may alleviate valuation pressures on CXO companies, which had been a significant concern for the market [8][24]. AI Empowerment in Drug Development - The rise of artificial intelligence is expected to transform drug development, addressing challenges such as long development cycles and high costs, thereby creating new opportunities in the sector [9][26]. - The report emphasizes that companies that achieve breakthroughs in AI applications within the CXO industry will gain competitive advantages in future drug development [9][26]. Notable Industry News - The release of the RuiPath pathology model by Ruijin Hospital, in collaboration with Huawei, marks a significant advancement in the integration of AI into medical diagnostics, enhancing efficiency and accuracy in pathology [2][40]. - The potential of dordaviprone as a treatment for a specific type of brain tumor is underscored by its clinical trial results, which showed a 28% objective response rate and a median duration of response of 10.4 months [42].