China Healthcare_Outlook 2025_ Structural opportunities amid uncertainty
China Securities·2025-01-12 05:33
本文档仅供上海信鱼私募基金管理有限公司18860455898研究使用，请勿外传 ab 8 January 2025 Global Research China Healthcare Outlook 2025: Structural opportunities amid uncertainty Risks skewed to the upside; we prefer biotech and online pharmacies Biopharma BD momentum to continue; positive on near-term CRO earnings We think biotech could outperform on companies' solid fundamentals, backed by the government's supportive policies on innovation. We believe the historically high level of Chinese out-licensing deals proves China's biopharma R& ...