Investment Rating - The report indicates a positive investment outlook for the pharmaceutical and biotechnology sector, particularly focusing on PD-1/VEGF dual antibodies [1]. Core Insights - The pharmaceutical and biotechnology sector saw a weekly increase of 3.64%, outperforming the Shanghai Composite Index (1.54%) and the Wind All A Index (1.22%). The PD-1/VEGF related stocks led the gains, with other biopharmaceuticals rising by 8.28% [2][7]. - A significant partnership was announced between Bristol-Myers Squibb (BMS) and BioNTech, involving a $11.1 billion agreement to co-develop and commercialize BioNTech's PD-L1/VEGF dual-specific antibody BNT327. This highlights the strategic importance of PD-1/VEGF dual antibodies in the global market [2][3]. - The report emphasizes the increasing interest from multinational corporations (MNCs) in the PD-1/VEGF dual antibody space, suggesting that domestic biotech firms are well-positioned for future business development (BD) opportunities [2][3]. Summary by Sections Market Weekly Review - The pharmaceutical and biotechnology sector experienced a 3.64% increase, with notable performances from individual stocks such as Seer Medical (51.5%), Guangsheng Tang (48.6%), and Shenzhou Cell-U (45%) [7][10]. - The report notes that the other biopharmaceuticals sector rose by 8.28%, while medical devices and hospitals saw slight declines [2][7]. Industry News and Key Company Announcements - On July 1, the National Healthcare Security Administration released proposals for the adjustment of the 2025 National Basic Medical Insurance drug catalog, aiming to support innovative drug development [12]. - Significant approvals were noted, including the launch of TQG203 for treating hemophilia and the approval of Liraglutide for obstructive sleep apnea [12][13]. - Strategic investments were highlighted, such as Sanofi's investment in Tianyan Pharmaceutical, which will support the development of SAFEbody antibodies [15]. Company Announcements - Several companies reported significant developments, including the approval of new drugs and strategic partnerships aimed at enhancing their market positions [15][16]. - Notably, the report mentions the approval of innovative drugs that address unmet medical needs, indicating a trend towards more targeted therapies in the market [12][13].