Investment Rating - The report maintains an "Outperform" rating for the pharmaceutical industry [3] Core Insights - The pharmaceutical and biotechnology index decreased by 0.68% this week, underperforming the CSI 300 index by 0.11 percentage points, ranking 19th in industry performance [12] - The healthcare sector has shown significant growth, with the medical services sub-sector increasing by 16.04% year-to-date, while traditional Chinese medicine has the lowest growth at 1.86% [17][19] - The J.P. Morgan Health Conference highlighted the strategic advancements of top global pharmaceutical companies, with over 20 Chinese firms participating, indicating a trend towards overseas collaboration in innovative drugs [34] Summary by Sections Market Review - The pharmaceutical index has risen by 7.08% from the beginning of 2026 to January 16, outperforming the CSI 300 index by 4.88 percentage points, ranking 8th in industry performance [12] - The medical services sub-sector has the highest year-to-date growth at 16.04%, while the lowest is traditional Chinese medicine at 1.86% [19] Individual Stock Performance - In the A-share market, 206 out of 478 pharmaceutical stocks rose, with the top five performers being Baolait (up 48.76%), Hualan Biological (up 32.72%), and Tianzhihang (up 27.67%) [23] - In the Hong Kong market, 59 out of 116 pharmaceutical stocks increased, with Ark Health leading at 51.66% growth [26] Industry News and Policies - The sixth batch of national high-value medical consumables procurement was opened on January 13, with 202 companies winning bids for 440 products [29] - Medtronic announced a strategic partnership with Precision Neuroscience to develop integrated solutions combining their technologies [29] - Boston Scientific plans to acquire Penumbra for approximately $14.5 billion, enhancing its portfolio in peripheral vascular interventions [30] Weekly Insights - The medical services sector's strong performance is attributed to positive revenue growth, with medical commercial and services sectors showing year-on-year revenue increases of 0.56% and 3.99%, respectively [33] - The J.P. Morgan Health Conference served as a significant platform for discussing trends in drug development and investment strategies, with a focus on AI and international collaborations [34]

2026年1月12日， Precision Neuroscience 宣布与 Medtronic 达成战略合作 ， 将其 柔性薄膜脑机接口（Layer 7） 与 Medtronic 旗下的 术中导航系统 StealthStation 集成，联合开发"结构–功能同步可视化"的术中解决方案。 这并非又一场资本助推下的"脑机概念联名"，而是围绕 脑手术中结构识别与功能识别的系统性整合 ，试图搭建起一个可应用于临床路径、可闭环的数据 系统。本文将聚焦此次合作的技术构成、预期场景与行业意义。 # 合作 框架： 从术中 工具集成，到术中决策 支持系 统 根据官方信息，此次合作的核心在于两大技术平台的整合： Precision Neuroscience 的 Layer 7 脑机接口（BCI） 在脑科学技术持续升温的背景下，一项跨界合作正在释放出更具临床落地潜力的信号。 该产品为一款 超薄柔性皮层电极阵列 ，厚度仅为头发丝的五分之一，内嵌 1024 个电极，能够以高空间分辨率贴合大脑皮层表面，捕捉神经信号。 其设 计强调 微创植入 与 大面积覆盖 之间的平衡，定位于瘫痪患者的"思想控制"辅助设备。2024年4月，该产品已获得 ...