Century Securities·2025-06-23 00:51Investment Rating - The report does not explicitly state an investment rating for the industry, but it highlights potential opportunities in high-end medical devices due to favorable regulatory changes [2]. Core Insights - The pharmaceutical and biotechnology sector experienced a significant decline of 4.35% from June 16 to June 20, underperforming compared to the Shanghai and Shenzhen 300 index, which fell by 0.45% [2][7]. - High-end medical devices are poised for growth following the approval of regulatory measures aimed at supporting innovation in this area, including medical robots and AI medical devices [2][10]. - The ADA conference from June 21 to 24 is showcasing advancements in obesity medications, with a focus on oral drugs and multi-target approaches, particularly highlighting Eli Lilly's clinical data [2][10]. Market Weekly Review - The pharmaceutical and biotechnology sector saw a broad decline, with sub-sectors such as other biological products, medical research outsourcing, and chemical preparations leading the downturn [2][7]. - Notable stock performances included a rise of 21.2% for Anglikang and a drop of 16.7% for Aoyang Health [10]. Industry News and Key Company Announcements - Regulatory measures to support high-end medical device innovation were approved, which include optimizing special approval processes and enhancing post-market surveillance [2][10]. - Eli Lilly's GLP-1 small molecule agonist, with promising clinical data, is under scrutiny at the ADA conference [10]. - Recent approvals and clinical trial advancements were reported by various companies, including CanSino and WuXi Biologics, indicating ongoing innovation in the sector [12][13].