医药生物行业周报：提振消费专项方案发布，消费医疗有望修复

Industry Rating - The industry investment rating is Neutral [3][30]. Core Insights - The recent release of the "Consumption Promotion Special Action Plan" by the State Council aims to boost consumption and expand domestic demand, which is expected to benefit the consumer healthcare market due to increased income levels and demand [4][10]. - The plan includes the establishment of a childcare subsidy system, with significant financial support for families having more children, which is anticipated to positively impact related sectors such as pediatric medication and assisted reproduction [4][10]. - The overall policy environment for the pharmaceutical industry has been positive since the beginning of the year, with a rebound in market investment enthusiasm following a prolonged adjustment period and accelerated innovation outcomes [5][11]. Summary by Sections Market Performance and Investment Strategy - The pharmaceutical and biotechnology sector rose by 1.77%, outperforming the CSI 300 index by approximately 0.18 percentage points, ranking 15th among 31 primary industries [9]. - The pharmaceutical commercial sector, driven by chain pharmacies, increased by about 6.44%, while the traditional Chinese medicine sector saw a rise of approximately 2.63% [9]. - The current TTM valuation of the pharmaceutical and biotechnology sector is around 27 times, with a valuation premium of 71% compared to all A-shares, still below the median level of 89% over the past five years [9]. Important Industry News - The National Healthcare Security Administration issued guidelines for pricing projects related to neurological medical services, paving the way for the clinical application of brain-computer interface technologies [19]. - The first IGF-1R antibody drug in China, developed by Innovent Biologics, was approved for treating thyroid eye disease [20]. - An innovative product for controlling endoscopic surgical instruments was approved, which is expected to enhance early diagnosis and treatment of gastrointestinal cancers [21][23]. Important Company Announcements - Double成药业 announced the termination of a major asset restructuring due to disagreements on transaction terms with counterparties [25]. - 蓝帆医疗 plans to issue corporate bonds not exceeding 500 million yuan to optimize its debt structure [26]. - 科伦药业's subsidiary received approval for a second indication for its core product, a targeted antibody-drug conjugate for treating advanced non-small cell lung cancer [26].