医药生物行业周报（5月第2周）：减肥药重要性再度提升

Investment Rating - The report indicates a positive long-term outlook for the weight loss drug industry, particularly focusing on GLP-1 medications, suggesting to maintain a long-term focus on the weight loss drug industry chain [3]. Core Insights - The importance of weight loss drugs has been reaffirmed, with the WHO developing new guidelines for obesity prevention and treatment, expected to be finalized by August or September 2025. This is anticipated to standardize the use of GLP-1 drugs, enhancing their application in weight management [3][13]. - The FDA has expanded its inspections of overseas manufacturing facilities, which is expected to benefit leading CDMO companies in China that have established quality systems meeting global standards [3][16]. - The pharmaceutical and biotechnology sector saw a weekly increase of 1.5%, underperforming compared to the overall A-share market and the CSI 300 index, with offline pharmacies and medical devices showing the highest gains [3][8]. Summary by Sections Market Weekly Review - The pharmaceutical and biotechnology sector rose by 1.5% from April 28 to May 9, lagging behind the overall A-share market (2.32%) and the CSI 300 index (1.56%). Offline pharmacies (5.64%), medical devices (4.49%), and medical R&D outsourcing (2.78%) led the gains, while vaccines (-0.45%), blood products (-0.43%), and in vitro diagnostics (-0.17%) saw declines [3][8]. Industry News and Key Company Announcements - Significant events include the WHO's ongoing development of obesity guidelines, which will clarify the clinical applications of GLP-1 drugs [3][13]. - The FDA's announcement on May 6 regarding expanded inspections of foreign manufacturers aims to ensure equal regulatory oversight for foreign companies [3][16]. - Notable company announcements include the approval of new indications for various drugs and the financial performance of companies like BeiGene, which reported a 50.2% year-on-year revenue increase in Q1 [3][12][17].