医药行业周报：亲合力减毒增效抗肿瘤创新平台或已得到验证，关注昂利康-20250720

Investment Rating - The investment rating for the pharmaceutical industry is "Positive" (maintained) [4][47]. Core Views - The report emphasizes the validation of the TMEA platform for targeted drug delivery in cancer treatment, highlighting the potential of Legubicin as a promising candidate [3][12]. - The pharmaceutical sector is expected to experience a structural rebound in 2025, driven by innovation in drug development, increased international market presence, and the aging population's healthcare demands [36][38]. - The report suggests focusing on innovative drugs and medical devices, as well as companies with low valuations that are positioned for growth in the context of aging and international expansion [36][38]. Summary by Sections Market Performance - From July 14 to July 18, the pharmaceutical index rose by 4.00%, outperforming the CSI 300 index by 2.91% [5][16]. - Notable gainers included Borui Pharmaceutical (+42.35%), Lisheng Pharmaceutical (+41.68%), and Nanjing New Pharmaceutical (+34.95%) [5][17]. Key Investment Opportunities - The report recommends focusing on innovative drug companies such as Heng Rui Medicine, Han Sen Pharmaceutical, and Keren Pharmaceutical, as well as companies in the CXO and supply chain sectors like WuXi AppTec and Tigermed [5][36]. - The TMEA platform's success in reducing toxicity and enhancing efficacy in cancer treatments positions companies like Anglikang as key players to watch [3][12]. Industry Trends - The report identifies several positive factors for the pharmaceutical industry, including the maturation of domestic innovation, improved international competitiveness, and a growing elderly population driving demand for chronic disease treatments [36][38]. - The ongoing development of a multi-tiered payment system, including the promotion of commercial insurance, is expected to support industry growth [36][38]. Recommendations - The report suggests a focus on innovative drugs and devices, manufacturing expansion overseas, and addressing the needs of an aging population [36][38]. - Specific stocks to watch include Xintai, Tianen Kang, Anglikang, and Yuekang Pharmaceutical for the current week, and a broader list for July including Rejuvenation Biology and Microchip Biomedicine [39].