医药生物行业跟踪周报：“十五五”聚焦脑机接口，抢占全球科技高地，建议关注：微创脑科学、翔宇医疗、美好医疗等-20260111

Investment Rating - The report maintains a "Buy" rating for the pharmaceutical and biotechnology industry, specifically recommending stocks such as Micro-Invasive Brain Science, Xiangyu Medical, and Meihua Medical [1]. Core Insights - The report emphasizes the focus on brain-computer interfaces (BCI) as a strategic high ground in global technology, supported by national policies and significant investments [5][19]. - It highlights the approval of innovative drugs and therapies, such as the human thyroid-stimulating hormone beta and the HER2-targeted therapies, which are expected to set new standards in treatment [2][3]. - The report ranks sub-industries in terms of investment potential, with innovative drugs at the top, followed by research services, CXO, traditional Chinese medicine, medical devices, and pharmacies [3][12]. Summary by Sections Industry Trends - The A-share pharmaceutical index has increased by 7.81% year-to-date, outperforming the CSI 300 by 5.03% [11]. - The report notes a significant rise in the healthcare sector, with medical services and devices showing strong performance [11]. Policy Support for Brain-Computer Interfaces - The "14th Five-Year Plan" identifies brain-computer interfaces as a key future industry, with a clear policy support from the government [18]. - The National Health Insurance Administration has established pricing standards for BCI procedures, indicating a commitment to support this emerging field [19][20]. R&D Progress and Company Dynamics - The report lists several companies with promising drug pipelines, including those focusing on PD1 PLUS, ADC, and small nucleic acids, suggesting specific stocks to watch [14]. - It provides a detailed overview of recent approvals and clinical trials, indicating a robust pipeline for innovative therapies [2][3]. Market Performance - The report highlights the significant gains in the pharmaceutical sector, with specific stocks like Innovation Medical and Sanbo Brain Science showing remarkable increases [11]. - It also notes the performance of H-shares, with companies like Jinfang Pharmaceutical-B and Shengnuo Pharmaceutical-B leading the gains [11].