9月29日，由北京市委网信办主办、新京报贝壳财经承办的"京彩不设限·经济热力站"月度主题走访活动 在北京举办，本期主题为"创新策源 健康领航"。 活动亮点纷呈，数十位主流媒体记者与网络大V一同走访调研了中关村生命科学园展厅、新生巢创新中 心、北京万泰生物（603392）药业股份有限公司、华辉安健（北京）生物科技有限公司、北京诺诚健华 医药科技有限公司等企业，深入拆解"明星"创新药从靶点发现到临床获批的完整路径。 这些企业不仅见证了北京在医药健康领域前沿技术赛道的重点布局，也记录下一座城如何以临床需求为 牵引、以政策赋能为支撑，撬动资本、人才、平台、数据等全要素，加速医药创新从"书架"走向"货 架"，为首都经济高质量发展注入源源不断的健康动能。 据中关村生命科学园展厅工作人员张祎介绍，经过多年发展，中关村生命科学园已成为中国生命科学领 域创新资源最密集的区域之一。园区聚集了北京生命科学研究所、国家蛋白质科学中心等一批国家级研 发机构，已建设10余个国家和省部级重点研发中心，入驻创新型医药企业1000多家。园区及周边布局了 北大国际医院、北大第六医院、高博医院等医疗机构，总床位数3000余张。其中，高博医院是全国 ...

Investment Rating - The report maintains an "Overweight" rating for the overseas pharmaceutical industry, indicating a positive outlook for the sector [3][6]. Core Insights - A significant collaboration has been established between Sanofi and Pfizer regarding SSGJ-707 (PD-1/VEGF dual antibody), with an upfront payment exceeding $1.25 billion and potential total payments reaching $4.8 billion, including milestone payments and a double-digit percentage sales share [3][7]. - The Hang Seng Healthcare Index increased by 6.83%, outperforming the Hang Seng Index by 6.44 percentage points [6]. Summary by Sections 1. Overseas Pharmaceuticals - Sanofi and Pfizer's collaboration on SSGJ-707 includes global development rights, with Sanofi receiving an upfront payment of $1.25 billion and potential total payments of up to $4.8 billion [3][7]. - Kelun Biotech's TROP2 ADC has received acceptance for a new indication application, targeting HR+ HER2- breast cancer patients [3][7]. - Innovent Biologics' CD19 monoclonal antibody has been approved for the treatment of relapsed/refractory diffuse large B-cell lymphoma in China [3][7]. - The report highlights the approval of BMS's TYK2 inhibitor for a new indication and a collaboration between Roche and Orionis for small molecule drugs [4][8]. 2. Overseas Social Services - Ctrip's Q1 2025 revenue increased by 16% to 13.9 billion yuan, with a non-GAAP operating profit of 4 billion yuan, maintaining a profit margin of 29% [12]. - The report maintains a target price of 590 HKD for Ctrip, with a "Buy" rating [12]. 3. Overseas Education - The education index rose by 1.4%, outperforming the Hang Seng National Enterprises Index by 0.7 percentage points [16]. - The report suggests focusing on vocational education companies, particularly China Oriental Education, due to a rebound in training demand [18].