医药行业周报：本周医药上涨1.8%，呼和浩特出台育儿补贴新政，医保局为脑机接口新技术服务价格立项

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical industry, indicating a positive outlook for the sector compared to the overall market performance [2][22]. Core Insights - The pharmaceutical sector saw a weekly increase of 1.8%, outperforming the Shanghai Composite Index, which rose by 1.4% [3][5]. - The overall valuation of the pharmaceutical sector is at 24.0 times PE for 2025E, ranking 6th among 31 primary industries [5][8]. - Key events include the introduction of a new childcare subsidy policy in Hohhot, which may positively impact related pharmaceutical companies [10]. - The National Medical Insurance Administration has initiated pricing projects for neurological services, specifically for brain-computer interface technologies, which could create new market opportunities [10]. - A significant approval was granted to Kolun Pharmaceutical's TROP2 ADC for lung cancer treatment, marking a milestone in the industry [11]. Summary by Sections Market Performance - The pharmaceutical index increased by 1.8%, ranking 15th among 31 sub-industries [3][5]. - Various sub-sectors showed different performance levels, with offline pharmacies leading at +10.4% [5][6]. Key Events - Hohhot's childcare subsidy includes a one-time payment of 10,000 yuan for the first child and 50,000 yuan for the second child, potentially boosting the market for related pharmaceutical companies [10]. - The National Medical Insurance Administration's new pricing guidelines for neurological services include specific provisions for brain-computer interface technologies [10]. Company Highlights - Kolun Pharmaceutical's TROP2 ADC received approval for a new indication in lung cancer, which is expected to significantly benefit patient survival rates [11]. - The report suggests monitoring companies involved in childcare-related pharmaceuticals and those collaborating with Huawei in the medical field [10].